Meta-mining on ethereum network concept

MetaMetaMeta! Token

DAPP hosted here :

Yo dawg. I heard you like mining... So I put a PoW mining inside Ethereum ERC20 token so you can mine tokens while you mine Ether!

Imagine standard ERC20-compliant token on Ethereum platform. Now, lets add simple proof-of-work check inside token contract, and reward whoever solves the PoW task with tokens. Bam! You've got lightweight implementation of Bitcoin on top of Ethereum. Isn't it meta?

Ofcourse its just for fun only. Mining (spending computational resources) doesn't protect the network from attacks (Ethereum network is already protected with its own mining), so it's only a tokens distribution to miner (and those tokens are useless and worth nothing).

Bonus! You can mine in your browser. I made a tiny Dapp for that. Requires Metamask plugin.
M4K3 M1N1ИG GЯE4T 4G41И!

Current specs
  • 2.5 min block time (I know, there's no blocks here, its just a figure of speech)
  • Block reward: 5 tokens
  • Decimals: 8 (digits after dot)
  • Halving each: 210,000 blocks (1 year?)
  • Difficulty retarget: each block; simple (exactly as in bitcoin-core)
  • Algo: sha3 (aka keccak256)
  • Max cap: count yourself (mining wont stop after 64 halvings as in bitcoin-core)
I need your oppinion and feedback on this.

PS. Opensourced here License:WTFPL.


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