The next leap for ERC20 tokens: Pure SHA3 Mining

Aug 8, 2018 · 1 min read

The grandfather of Cryptocurrency, Bitcoin, was designed to be a trustless secure currency for use on the internet. When Bitcoin was deployed, Satoshi started with zero. Everyone was in a fair Proof Of Work Mining playing field and had to mine the coins. This makes BTC a fundamentally sound, open, fair, and trustless currency.

When traditional Ethereum tokens are launched, they are all assigned to the deployers wallet. This makes those tokens fundamentally centralized, poor currency, and users must trust that the deployer is not evil. ICO Deployers can secretly withhold tokens. This misses the entire advantage of Cryptocurrency.

With EIP918, Ethereum developers now have a standard for building a working SHA3-algo mined ERC20 token. Included is a set of open software tools including GPU mining software, pool software in NodeJS, and even Solidity templates and examples.

Now we can build community tokens from the bottom up instead of the top down. This will make Ethereum a safer and more trustless place, according to Satoshi’s vision.

Join at


Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade