About pow token
POW is a crypto-currency that is being issued free to every Internet user on the planet. It's simple to claim your allocation by using a social media account that was created prior to September 15th 2017, or with a verified Coinbase.com account. The earlier you claim the bigger your allocation will be.
So far 345,960 users have claimed POW since we launched on October 2017. When we first launched, the first claimant received 10bn POW. Since then the amount allocated to each new claimant has fallen according to our published algorithm. A new user currently receives 10,175 POW. By the time we reach 50 million users that amount will have fallen to 100 POW. When we eventually reach 2 billion users, each new user will receive just 1 POW.
Although POW is being freely distributed, doing so is creating a valuable network as described by Metcalfe's law.
Consider the utility of with just a few key strokes being able to pay anyone on the planet, speedily, with privacy, security and zero transaction fees. At time of writing Bitcoin has approximately 30 million users, and a market capitalisation of $150 billion.
POW TECHNICAL DETAIL...
POW is a standard ERC20 token on the Ethereum Blockchain. Ethereum is the second largest crypto-currency after Bitcoin. Ethereum allows the creation of token's like POW to utilise their Blockchain. The address of the POW ERC20 contract is: 0xEb2dA9FAC54284cEA731D1F10bb34EEcB3c00c14
POW can be held off-Blockchain at POWtoken.com where it can be transferred to other users of POWtoken.com with zero transaction fees and with transactions clearing in less than 1 minute.
The POWtoken.com service is built using the Laravel PHP framework which facilitates easy integration of third party Oauth2 providers like Facebook, Twitter, Reddit and LinkedIn; stateless architecture allowing for scalability and robustness.
