While other cryptocurrencies require computer infrastructure, electricity and significant investments to create new coins, Minereum, a smart contract token built on the ethereum platform, is about to become the first ever self-mining crypto-currency . The platform uses a mathematical formula for mining operations.
Minereum started with a process called Genesis, from which between the 14th and 15th of April 2017; they collected 4,268 Ethereum wallet addresses openly in the minereum related forum on bitcoin.org. Each Genesis addresse was allocated 32,000 coins resulting in a total of 136,576,000 minereum coins (MNE).The self-mining contract allows for each Genesis address to mine only 0.00032 Minereum (MNE) per Ethereum block. Due to this fact, it will take some 47 years to attain maximum supply of MNE coins.
Minereum currently has an active dev team with plans to launch a number of services, exclusive to the platform. For now, the team focuses on an Automatic Ethereum Token Creation Service which will allow anyone to create an ERC20 token with just one MNE transaction.
Minereum being able to set itself apart from the traditional mining used by well known cryptocurrencies such as bitcoin and litecoin, may just be on on the right path to a bright future in the crypto economy.
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sources: cointelegrah , livebitcoinnews , bitcointalk
