Move over DAI, a new trustless currency has dawned
Many Ethereum users are familiar with DAI, a stablecoin worth $1. This is most useful because it can be used as currency inside of Ethereum, because it is relatively stable, and because it is ‘trustless’ (assuming you trust the U.S. Feds) since it has no ICO or airdrop.
There is a new trustless ERC20 currency for Ethereum. One which is not controlled/governed by any person or corporation or entity. A pure-mined token, ‘pegged' to the cost of mining, which uses the soliditySHA3 algorithm. Obviously since it was pure mined, there was no ICO or Airdrop. Tokens are minted only for those who provide mathematical solutions. If this sounds exactly like the Satoshi Whitepaper, it’s because it is.
Here are some pros and cons of this Pure-Mineable Token vs DAI:
Pros:
- Not related to a nationstate / Federal reserve
- Not limited by CDP volumes or caps
- Still 100% trustless, based only on math and pure mining
- Stable to the costs of mining
Cons:
- Value floats relative to USD
Here are some stats of this pure mined trustless ERC20 currency :
https://0x1d00ffff.github.io/0xBTC-Stats/
You can integrate it into your Dapps using this address:
https://etherscan.io/address/0xb6ed7644c69416d67b522e20bc294a9a9b405b31
