Smart Contract Deployed
Hi everyone,
The minereum Smart Contract is now deployed in the ethereum network.
All 4268 Genesis Addresses were credited with 32,000 coins.
minereum Smart Contract address
0x1a95b271b0535d15fa49932daba31ba612b52946
To add minereum to your ethereum wallet
Address: 0x1a95b271b0535d15fa49932daba31ba612b52946
Symbol: MNE
Decimals: 8
Interface
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Checking balances
There are 2 balances in minereum:
1. The overall balance - Function balanceOf()
2. The available balance (aka mined coins) - Function availableBalanceOf()
Mining
As explained in the white paper, "mining" in minereum is performed on the fly with just 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 minereum.
Total Supply
There 2 important supplies in minereum:
1. The overall total supply - Function maxTotalSupply()
2. The available supply - Function totalSupply()
Each Genesis Address is now credited with 32,000 coins each.
There are a total of 4268 Genesis Address.
The overall total supply: 32000 * 4268 = 136,576,000 MNE
It will take aprox. 47 years to reach the total supply.
Limitations of Genesis Addresses
The 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.
Congrats dev ! so what is the next step ? what is MNE for ? i think this is what everyone here concerns most
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