The World's First Proof-of-Stake Smart Contract Token - The Future of Crypto Tokens
Personally so far this is one of my top choice tokens for this year. If you wonder what is PosToken you might should read this article until the end.
Let's begin!
So 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.
Its mean PosToken is a Proof-of-Stake Tokens [POS] and it use Ethereum Platform by mean the first token ever using Ethereum erc20 Token Standard for via [POS].
Specification
- Name: PoSToken
- Symbol: POS
- Decimals: 18
- Standard: ERC20 & PoSTokenStandard
- Platform: Ethereum
- Maximum Total Supply: 10,000,000 POS
- Initial Supply: 1,000,000 POS
- Minimum Coin Age: 3 Days
- Maximum Coin Age: 90 Days
- Contract Address: 0xee609fe292128cad03b786dbb9bc2634ccdbe7fc
Wow! The total supply just only 10 millions POS which is very small numbers!
So how to add this token on Ethereum?
Its very easy. Follow this instruction..
- Go to MyEtherWallet
- Click "Send Ether & Tokens"
- Unlock your wallet
- Click "Add Custom Token"
- In the "Address" field, input the contract address: 0xee609fe292128cad03b786dbb9bc2634ccdbe7fc
- In the "Token Symbol" field input: POS
- In the "Decimals" field input: 18
- Then click "Add" and you will see your PoSToken in the wallet.
So what is interest per year POS?
- 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.
If the totals reach out no more PosToken will generated via POS.
So how to mining this POS Token?
As i read on their thread there was two type of mining can be done easily. But before you can start mining this PoS mining is that you should have held some PoSToken for a period of time, greater than or equal to The Minimum Coin Age.
You can check your coin age with this provider online tool:
Online PoSToken Proof-of-Stake Mining Calculator: https://calculator.postoken.org
After that you can start PoS mining by:
First method:
One
- Sending a transaction to your own address with any amount.
This can be easily done by Ethereum wallet.
Second method :
Two
- 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.
Step-by-Step Tutorial to PoSToken PoS Mining - Fast & Easy
Step-by-step tutorial on how to start PoSToken PoS mining. Hope this helpful to you!
Any Ethereum wallet can be used to interact with smart contracts. In the example below we use MyEtherWallet.com to tell you how to start PoSToken PoS mining and get some reward.
1.Query your COINAGE and EXPECTED REWARD
Go to https://calculator.postoken.org/
Most Important: Make sure that your coinage is greater than zero, thus you can get reward via PoS mining.
2.Go to MyEtherWallet & Click "Contracts"
3.Input Contract Address & Contract ABI, then Click "Access" Button.
Contract Address: 0xee609fe292128cad03b786dbb9bc2634ccdbe7fc
ABI/JSON Interface:
[{"constant":true,"inputs":[],"name":"name","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_spender","type":"address"},{"name":"_value","type":"uint256"}],"name":"approve","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":false,"inputs":[],"name":"mint","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"totalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"coinAge","outputs":[{"name":"myCoinAge","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_from","type":"address"},{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transferFrom","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"timestamp","type":"uint256"}],"name":"ownerSetStakeStartTime","outputs":[],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"maxTotalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"decimals","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[],"name":"getBlockNumber","outputs":[{"name":"blockNumber","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"chainStartTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"}],"name":"balanceOf","outputs":[{"name":"balance","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"stakeStartTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_recipients","type":"address[]"},{"name":"_values","type":"uint256[]"}],"name":"batchTransfer","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"owner","outputs":[{"name":"","type":"address"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_value","type":"uint256"}],"name":"ownerBurnToken","outputs":[],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"symbol","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"totalInitialSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transfer","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"annualInterest","outputs":[{"name":"interest","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"stakeMinAge","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"chainStartBlockNumber","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"},{"name":"_spender","type":"address"}],"name":"allowance","outputs":[{"name":"remaining","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"stakeMaxAge","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"maxMintProofOfStake","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"newOwner","type":"address"}],"name":"transferOwnership","outputs":[],"payable":false,"type":"function"},{"inputs":[],"payable":false,"type":"constructor"},{"anonymous":false,"inputs":[{"indexed":true,"name":"burner","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Burn","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"_address","type":"address"},{"indexed":false,"name":"_reward","type":"uint256"}],"name":"Mint","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"owner","type":"address"},{"indexed":true,"name":"spender","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Approval","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"from","type":"address"},{"indexed":true,"name":"to","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Transfer","type":"event"}]
4.Select 'mint' in the dropdown box.
5.Click "Generate transaction" Button to Start PoS Mining
Make sure to set the GAS limit to 200,000
Congratulation you have successful done mining POSToken .
Distribution
- After the contract deployed, only 1Million POS, 10% of the Max Total Supply, will be created as the Initial Supply
- Development: 100K
- Marketing: 50K
- Bounties: 50K
- AirDrop: 800K
Official Addresses
Development Address: 0xebc3b544293e1e61ff20dfeefc15929bb18443a6
Marketing Address: 0x0bf4ce7a5bba9a8f1314189c0f26ee369850f4d5
Bounties Address: 0xd25fc980186c349ed0cd0a40d54bce30793502d3
AirDrop Address: 0x1dae548c0539870bb142704293c12b58c0b2053a
Token Tracker on Etherscan:https://etherscan.io/token/0xee609fe292128cad03b786dbb9bc2634ccdbe7fc#balances
Airdrop Bounty: https://airdrop.postoken.org
[ANN] Bitcointalk: https://bitcointalk.org/index.php?topic=2110712.0
Whitepaper: https://postoken.org/whitepaper.pdf
Twitter: https://twitter.com/PoSToken
GitHub: https://github.com/PoSToken
Hopefully you will enjoy this article and anything you want to ask i'm very gladly to answer the question. Or just go to their website and discussion thread on bitcointalk.
