POW: Open-Source, Decentralized, Trustless, No Team Fund, Mineable https://www.eospow.org

Ned Amarril
Dec 14, 2019 · 2 min read

We open-sourced POW a month ago. Since then we‘ve been giving hints to help others discover POW. We may have been too subtle and hope this announcement is more clear.

EOS Proof of Work Coin (POW) is live and mineable now. POW applies the proof-of-work mining schedule and adjusting difficulty of Bitcoin (BTC) to an EOSIO Token. 50 POW are minted every 10 minutes for about 4 years, then the amount minted halves. This repeats until there are 21 million POW, exactly like BTC.

EOS CPU & NET resources are used to mine POW by transferring EOS to eosiopowcoin. Each time you send EOS to the eosiopowcoin contract account, that exact amount of EOS plus 0.0025% of the POW supply in the eosiopowcoin account will be transferred back to you.

POW is a completely decentralized, trustless, open-source project without a developer allocation. Every single POW has been or will need to be mined. No POW were given free or pre-mined. Anyone can mine POW after using the setupminer action. POW minting will continue until supply reaches 21 Million. No one can stop the minting, mining or distribution of POW. The contract is keyless and outside of anyone's control.

The development team behind POW also need to mine POW if they want any. All mining aside from a very small amount for initial testing occurred after the contract was open sourced and the website published. Ned also posted hints on twitter with the website in his profile, hoping some would discover POW on their own.

Go to https://www.eospow.org for more information.

Go to https://github.com/NedAmarril for source code and auto-miners.

Ned Amarril

Written by

Hi, I’m Ned. I created EOS POW Coin https://www.eospow.org.

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