Smart Contract DeployedHi everyone,
minereum is now deployed on the ethereum network, the first ever Self Mining Smart Contract.
All 4268 Genesis Addresses were credited with 32,000 coins.
minereum Smart Contract address0x1a95b271b0535d15fa49932daba31ba612b52946
To add minereum to your ethereum walletAddress: 0x1a95b271b0535d15fa49932daba31ba612b52946
Token Name: minereum
Symbol: MNE
Decimals: 8
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Checking balancesThere are 2 balances in minereum:
1. The overall balance - Function
balanceOf()2. The available balance (aka mined coins) - Function
availableBalanceOf()MiningAs explained in the white paper, "mining" in minereum is performed on the fly with a mathematical formula.
The total coins created is 0.00032 MNE per Genesis Address and per ethereum block.
As we have 4268 Genesis Addresses and as an ethereum block takes an average of 15 seconds, this is the aprox. MNE mined per day:
[TotalGenesisAddresses] * [RewardPerAddress] * [TotalEthBlocksPerDay] = Total Coins Generated Per Day
4268 * 0.00032 * 5760 = 7866.7776 MNE per day
As a comparision example:
ethereum has a total of 5 coins created per block, which makes the total coins generated per day at 28800 ETH.
minereum has a creation rate 72% lower than ethereum.
Total SupplyThere are 2 important supplies in minereum:
1. The overall total supply - Function
maxTotalSupply()2. The available supply - Function
totalSupply()Take into account that minereum has 8 decimals so the return of these functions must be divided by 100000000 to get the real amount of MNE.
maxTotalSupplyEach Genesis Address is now credited with 32,000 coins.
There is a total of 4268 Genesis Addresses.
The overall total supply: 32000 * 4268 = 136,576,000 MNE
It will take aprox. 47 years to reach the total supply.
totalSupplyThe available supply for transfer can be calculated using this formula:
function totalSupply() constant returns (uint256 totalSupply)
{
minedBlocks = block.number - initialBlockCount;
availableAmount = rewardPerBlockPerAddress*minedBlocks;
return availableAmount*totalGenesisAddresses;
}
The initial initialBlockCount is 3516521 (April 11, 2017).
By default all Genesis Address will have a mining of aprox 10 days and therefore will have an available balance of aprox 18 MNE.
The available total supply is then: 18 * 4268 = 76824 MNE
Limitations of Genesis AddressesThe Genesis Addresses are the addresses where the initial coins were distributed. There will be no more coins than the ones that were distributed to these addresses, to guarantee the whole function of minereum these limitations apply for Genesis Addresses:
1. Genesis Addresses cannot receive coins. If coins are transferred to these addresses the transaction will be rejected and there will be an error in the ethereum transaction.
2. The available coins for transfer for the Genesis Addresses is limited to what is explain in the "Mining" point. If a Genesis Address attempts to transfer more funds than what is available as per the availableBalanceOf function, an error will be returned in the ethereum transaction.
All other addresses are free of these limitations.
Source Codehttps://github.com/minereum/Minereum/blob/master/minereum.sol
