The World's First Proof-of-Stake Smart Contract Token - Make Crypto Tokens Different
Hello world !!
On this occasion I want to introduce a Token with a new breakthrough, Yes POSTOKEN, POS (Proof Of Stake) connected with Smart Contract (ETH - ERX20)
What is PoSToken?
PosToken is the world's first Proof-of-Stake smart contract token on Ethereum platform. It's an ERC20 Token which follows the ERC20 Token Standard and implements all standard methods.
PoSToken first implements the Proof-of-Stake mechanism, meaning that holders of PoSToken can earn some extra tokens just by holding PoSToken for a period of at least 3 days, greater than or equal to The Minimum Coin Age.
PoSToken is the first implementation of PoSTokenStandard, a brand new unofficial Ethereum Token Standard, which is defined in the code of PoSToken and is devised specifically for issuing Proof-of-Stake Tokens. PoSToken is just a start of Proof-of-Stake tokens and the PoSTokenStandard will help developers issue more PoS tokens in the future. That's the real purpose of PoSToken. We believe that a new era of Crypto Tokens starts here.
Specifications of PoSToken
Standard: ERC20 & PoSTokenStandard
Maximum Total Supply[/b]: 10,000,000 POS
Initial Supply: 1,000,000 POS
Minimum Coin Age: 3 Days
Maximum Coin Age: 90 Days
PoS Annual Interest
Year 1 : 100%
Year 2 : 50%
Year 3 - 15: 10%
According to the above annual interest,the Max Total Supply of PoSToken (10M POS) will be reached in about 15 years.Once 10 Million is reached, no more PoSToken will be generated via PoS.
PoS Mining Guide
By considering the convenience of use and the consumption of less gas, PoSToken provides two methods to trigger PoS mining. However, the basic premise of starting PoS mining is that you should have held some PoSToken for a period of time, greater than or equal to The Minimum Coin Age. Then you can start PoS mining by:
1.Sending a transaction to your own address with any amount.
We recommend this approach which can easily be done with any Ethereum Wallet.
2.Using MyEtherWallet.com or Mist or any other software that can interact with contracts to execute mint() function.
For now you have to use MyEtherWallet.com or Mist or any other software that can interact with contracts to execute this function. It maybe a little inconvenience for you, need to have some practical experience of interacting with contracts. But don't worry about this, we have taken this into account and a Wallet for Proof-of-Stake tokens has been added to our development plan. We will soon release the first version you can test. By using our PoS Token Wallet, you can easily start PoS mining just by clicking one button. Worth mentioning that the wallet will support any tokens based on the PoSTokenStandard.
function annualInterest() constant returns(uint);
Return current annual interest.
function coinAge() constant returns(uint)
Return coin age of your account. Return 0 means that your coin age doesn't meet the min coin age now.If you are not sure about your account's coin age, you can execute this function for query.
Calculation of CoinAge
Coin age is simply defined as token amount times holding period.In a simple to understand example:
1.If Bob received 10 tokens from Alice and held it for 60 days, we say that Bob has accumulated 600 token-days of coin age.
2.Additionally, when Bob spent the 10 tokens he received from Alice, we say the coin age Bob accumulated with all tokens in his account had been consumed (or destroyed).
After the contract deployed, only 1Million POS, 10% of the Max Total Supply, will be created as the Initial Supply
And one of the most important and interesting things is Postoken now has AIRDROP Part 2.
For more details you can visit the Official Thread Announcment from Postoken .
PosToken contact :
If you would like to ask more about PosToken please send Direct Mesage to this ID as Postoken Bitcointalk Manager : POSTOKEN
Thanks for reading.