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Author Topic: [ANN] Minereum - First Self Mining Smart Contract  (Read 434236 times)
minime0105
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June 19, 2017, 10:04:22 AM
 #3521

can someone explain to me in very plain english, how this "selfmining contract works?"

Basically there are a few genesis addresses (4000 or so) which automatically get a small MNE every day (well with every ETH block). So MNE is created automatically as Ethereum blocks are found as MNE sits on the ETH blockchain. So the mining is actually performed by ETH miners indirectly.
For those people who are just telling that every MNE genesis address is generating MNE per day, its actually like this. This is the actual and real scenario.
It is self mining, because it is being indirectly mined by ethereum miners itself.

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Mrrr
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June 19, 2017, 10:51:41 AM
 #3522

can someone explain to me in very plain english, how this "selfmining contract works?"

Basically there are a few genesis addresses (4000 or so) which automatically get a small MNE every day (well with every ETH block). So MNE is created automatically as Ethereum blocks are found as MNE sits on the ETH blockchain. So the mining is actually performed by ETH miners indirectly.
For those people who are just telling that every MNE genesis address is generating MNE per day, its actually like this. This is the actual and real scenario.
It is self mining, because it is being indirectly mined by ethereum miners itself.

To be more precise: the genesis addresses each held 32000 MNE when Minereum was launched. These tokens were locked and unspendable. At a rate of ~1,8 MNE per day these become unlocked. The unlocking is done by Ethereum blocks at a rate of 0.00032 MNE per block. After a period of 47 years all MNE will be unlocked and genesis addresses will be able to spend all their tokens.

So the whole 'booooh so unfair only genesis holders can mine' tantrum is based on a misapprehension of the concept.

MNE was an airdrop where the devs gave everything away for free, so every genesis address already has 32000 tokens. The nifty thing is that most of it can't be spent. So genesis holders can't dump their share and if they ever want to make some real money of off their investment (I count luck or time spent browsing the boards and picking out the gems from the pig dung as investments) they will have to continue to support the project. The system kind of gets rid of the short-therm P&D mentality that is so abundant around here.

To those of you who still deem this unfair: I suggest you send BCNext a PM whether he can retroactively put you on the list of NXT initial stakeholders, or send an email to Bitcoin Core and ask them to hard-fork to a lower difficulty because you don't have the money for an ASIC farm and you'd like to mine BTC on your Nintendo DS.






burp...
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June 19, 2017, 10:58:36 AM
 #3523

Can somebody tell me why the supply is increasing? Probably a dumb question, but I thought it was capped around 490k where I bought it around.
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June 19, 2017, 11:14:46 AM
 #3524

Can somebody tell me why the supply is increasing? Probably a dumb question, but I thought it was capped around 490k where I bought it around.

The supply grows but also the token service burns some Minereums as well so the inflation shouldn't be bad.

BitBay team member - Take your markets back!
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June 19, 2017, 11:29:04 AM
 #3525

Can anyone help me with the discord?
I was on the discord but It seems that I was removed (was on "purge" list for inactivity) and now all invite links are "invalid or disabled".

bob75coin
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June 19, 2017, 01:23:40 PM
 #3526

update

Hi All,

Just want to say that we are continuing to work on the Token Creation Service and additionally to ERC20 we are now also preparing the next version that will support the creation of ERC23 tokens.

This update will be released soon, stay tuned.

Additionally to this we are making our plan for the Minereum World App and after making our recalculations we believe that we will still be able to deliver the first working version to the public by the end of this year.

Also, we are working on the possibility of making a first prototype version, just for display purposes in the next few weeks. The goal would be to have an android prototype app available for everyone to see how it works.

One other thing is that we are working on the conceptualization of preventing GPS spoofing. We will have machanisms in place to prevent abuse.

If you missed, here is the current info for the Token Creation Service and Minereum World App:

▶ ERC20 Token Creation Service 1.0:
https://bitcointalk.org/index.php?topic=1867535.msg19583893#msg19583893

▶ Minereum World App:
https://bitcointalk.org/index.php?topic=1867535.msg19593049#msg19593049

More updates to come so stay tuned!

Great job!
Where can I find some explanation about the difference between ERC20 and ERC23 tokens?
atchoum6760
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June 19, 2017, 01:26:29 PM
 #3527

Great job!
Where can I find some explanation about the difference between ERC20 and ERC23 tokens?

Google is your friend.
Souce : reddit

Explanation of the difference between ERC20 and ERC23 tokens

ERC20 is already existing token standard used by ethereum tokens. ERC23 is a new version of token standard.
Problems.
You can't deposit ether in contract that is not specified to accept ether deposits. For example you can't deposit ETC in dao-withdrawal contract. But you can send your ERC20 tokens anywhere so you can deposit BitEtherCoin in dao-withdrawal contract where your BEC will stay forever as dao-withdrawal contract is not designed to work with BEC and there will be no way to access BEC on this contract. ERC23 tokens can't be sent to a random contract similarly to ether. Only contract specified with ERC23 deposits will accept ERC23 tokens.
Transactions.
Transactions between addresses are same in ERC20 and ERC23. When you need to deposit your ERC20 token in contract you should call approval function in token contract to approve a specified (amount*token decimals) to be transferred from your address to target contract. Then you need to call deposit function on target contract to finalize your deposit and transfer your tokens. Note: If you accidentally sent your ERC20 tokens to target contract without calling approval your tokens would be lost!
Interaction between ERC23 and other contracts is much easier. You need just to send your ERC23 tokens to contract address like you send them to another wallet. There is no difference for user to send ERC23 to contract or to address.
100% Backward compatibility.
ERC23 supports all ERC20 functions and can also be transferred via approval method.
Optimization.
In fact transfer of ERC20 tokens between address and contract is a pair of two different transactions while transfer of ERC23 tokens is a single transaction. ERC20 tokens transfer to contract fires Approval event on token contract and then fires Transfer event on contract receiving tokens. ERC23 tokens transfer fires only Transfer event and can prevent extra blockchain bloating as every event is stored in blockchain.

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June 19, 2017, 01:37:02 PM
 #3528

update

Hi All,

Just want to say that we are continuing to work on the Token Creation Service and additionally to ERC20 we are now also preparing the next version that will support the creation of ERC23 tokens.

This update will be released soon, stay tuned.

Additionally to this we are making our plan for the Minereum World App and after making our recalculations we believe that we will still be able to deliver the first working version to the public by the end of this year.

Also, we are working on the possibility of making a first prototype version, just for display purposes in the next few weeks. The goal would be to have an android prototype app available for everyone to see how it works.

One other thing is that we are working on the conceptualization of preventing GPS spoofing. We will have machanisms in place to prevent abuse.

If you missed, here is the current info for the Token Creation Service and Minereum World App:

▶ ERC20 Token Creation Service 1.0:
https://bitcointalk.org/index.php?topic=1867535.msg19583893#msg19583893

▶ Minereum World App:
https://bitcointalk.org/index.php?topic=1867535.msg19593049#msg19593049

More updates to come so stay tuned!

what about "the conceptualization of preventing GPS spoofing",dev,can you explain with more details?
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June 19, 2017, 02:25:15 PM
 #3529

MNE should really hit the headlines Smiley

https://www.elixirtoken.io/ - A crowdfunding, payment ledger, and lending platform. Already working BETA! Super undervalued token!
honghaisea
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June 19, 2017, 02:34:03 PM
 #3530

i bought some MNE @ 0.0032  Grin  now price 0.0039 .  will back 0.005 soon?
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June 19, 2017, 02:35:25 PM
 #3531

It is amazing that Minereum and Bancor both have easy token creation at there core. Minereum is a bargain compared to the upcoming Bancor. When Bancor will hit exchanges it will probably be valued around 2 billion dollars. Minereum is only at 5 million dollars. Bancor is not even close to releasing a mvp and with Minereum you can already create your own tokens (still some ux work tot do). Minereum is a sleeping giant. If it will even reach half of wat Bancor will accomplish we are all going to make a huge profit. KEEP MINEREUM.
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June 19, 2017, 03:29:12 PM
 #3532

i bought some MNE @ 0.0032  Grin  now price 0.0039 .  will back 0.005 soon?
it will hit 0.1 some day .don't doubt it!
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June 19, 2017, 03:34:22 PM
 #3533

1 MNE for token creation is  very cheap.
Maybe 10 or 100 will be better?
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June 19, 2017, 04:11:51 PM
 #3534

It is amazing that Minereum and Bancor both have easy token creation at there core. Minereum is a bargain compared to the upcoming Bancor. When Bancor will hit exchanges it will probably be valued around 2 billion dollars. Minereum is only at 5 million dollars. Bancor is not even close to releasing a mvp and with Minereum you can already create your own tokens (still some ux work tot do). Minereum is a sleeping giant. If it will even reach half of wat Bancor will accomplish we are all going to make a huge profit. KEEP MINEREUM.

Not only keep, but spread MNE! everyone who is active in this thread should at least have MNE in his signature.

Btw I am willing to donate MNE or BTC, if someone is going to make a twitter bounty or signature campaign.

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June 19, 2017, 04:13:11 PM
 #3535

1 MNE for token creation is  very cheap.
Maybe 10 or 100 will be better?
Eventually yes, but now is not know much, only in bitcointalk, so there can be early adopters, but when it becomes more known, then the price will increase an amount, or MNE will increase, so yeah.
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June 19, 2017, 04:18:33 PM
 #3536

Use the Token Creation Service while it's still cheap.  Wink
Ethix
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June 19, 2017, 04:20:42 PM
 #3537

Why cant someone just create their own tokens themselves without the service?
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June 19, 2017, 04:25:35 PM
 #3538

Why cant someone just create their own tokens themselves without the service?
Create your own token, we are watching you  Cheesy
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June 19, 2017, 04:27:12 PM
 #3539

Why cant someone just create their own tokens themselves without the service?
Yes, but you would need programming skills... And with the MNE token creating service anyone can create a token without knowing a thing about programming.
It is made simple for the general public.

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June 19, 2017, 04:30:41 PM
 #3540

I've been able to create and move some of my new token.

It shows on the token page like this...

ERC20-TOKEN Getit (*Unverified) 
Note: just example

How long does it take for a token to be verified or are there some steps
we must do to verify a new token?

Thanks

To verify your token you need to contact etherscan.io, more info here: https://etherscan.io/token-search

They ask for the following but I'm not sure on the #1. With 2-4 questions, I have those ready to submit.

  • 1. Ensure that you token contract source code has been verified
  • 2. Provide us with your Official Site URL:
  • 3. Contract Address:
  • 4. Link to download a 28x28png icon logo:

Thanks in advance

You can can verify your code here:

1. Go to https://etherscan.io/address/[YourContractAddress]

2. Click on the tab Contract Code

3. Click on "Verify and Publish"

4. Submit the source code as stated in the Token Creation Service post: https://bitcointalk.org/index.php?topic=1867535.msg19583893#msg19583893

5. After submitting your Source Code should be verified automatically

This process is now letting me do step 3 and the form comes up. These two fields I'm not sure about.



There is also an Optimization select that is defaulted to Enabled which I'm assuming is just left this way.

So if you can clarify if the Name is the name of the token and what compiler option we should select then
I can be sure I'm doing this correctly.

Sorry but a lot of times there is no do overs in the crypto world so I want to double check everything. I'm
sure the information will help other as well that need to do these steps.

Thanks

Hi,

There was a little mistake in my previous post, I updated it.

You can see the updated post here: https://bitcointalk.org/index.php?topic=1867535.msg19630037#msg19630037

Follow these steps:

1. Go to https://etherscan.io/address/[YourContractAddress]

2. Click on the tab Contract Code

3. Click on "Verify and Publish"

4. Paste the source code as stated in the Token Creation Service post: https://bitcointalk.org/index.php?topic=1867535.msg19583893#msg19583893

5. Put the following parameters:



Contract Name: Token
Compiler: v0.4.11+commit.68ef5810
Optimization: Enabled

6. On the field "Constructor Arguments ABI-encoded" Insert the following:

6.1 Take note of the "From" address that you used to initiate the transaction, for this example we will use the address 0xe64286a1d33c57dc5173297146edd713211eed85.
6.2 Remove the 0x from the address (we now have e64286a1d33c57dc5173297146edd713211eed85)
6.3 add 24 Zeros before the value from 6.2 (we now have 000000000000000000000000e64286a1d33c57dc5173297146edd713211eed85)
6.4 Paste this value on the Constructor Arguments ABI-encoded

Example:


6. After submitting your Source Code should be verified automatically

Minereum - The First Self Mining Smart Contract

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