Oxbtc is the first truly decentralized, POW proven mining-based ERC20 standard token token based on ETH smart contracts.

Project Highlights

Decentralization
Decentralization enables online participants to move towards a common goal. It encourages sound infrastructure and resists censorship.
Contract Compatibility
DApp is here, and it will only become more prominent. Smart contract compatibility means 0xBTC can be used quickly and easily around the world.
Limited Value
When governments, groups and companies can create currency on a whim, they devalue your money’s value and make you poorer. Fundamentally, a coin cap is a statement of respect for you, the fund holder. Only the market can determine how much your coin is worth.

Project name source

0xBitcoin originates from the combination of decentralized and mined commodity Bitcoin names with the term "0x", which means that assets are located in the Ethereum network. This is because all Ethereum addresses start with the character "0x". The 0xBitcoin contract is located at the Ethereum address 0xb6ed7644c69416d67b522e20bc294a9a9b405b31, and the transparent code has been verified and can be reviewed on the Etherscan service.

Decentralized tokens

Since 0xBitcoin is mined like Bitcoin, it acts like a commodity. The difficulty of "mining" the product will be automatically adjusted to the total computing power used to mine the product. The current state of the Ethereum ICO market and its proven failure rate make investors vulnerable to holdings of pseudo-values ​​that are only supported by speculation. 0xBitcoin mitigates this by providing the Ethereum network with a decentralized asset similar to Bitcoin, which is able to fill the role of numerous centralized tokens in a more indestructible and untrusted format.
This powerful mechanism allows individuals to avoid using third-party exchanges and are vulnerable to security breaches and wallet damages, as well as third-party custody. The movement away from centralization is the core tenant of Satoshi Nakamoto’s original intention to use classic bitcoin (Samoto, 2009). 0xBitcoin has the capability to help keep the Ethereum ecosystem open, responsible, distrust and decentralized at every step of the value transfer process. Unlike Bitcoin, 0xBitcoin is compatible with Ethereum smart contracts, it can interact with decentralized exchanges such as EtherDelta and ForkDelta. This means that while centralized means can only be used to trade Bitcoin, 0xBitcoin can conduct unauthorized transactions within immutable permanent smart contracts that cannot be reviewed or restricted by central entities.

Three controversial aspects of 0xBitcoin (0xBTC)

Main Concept
As the name suggests, this is not a true Bitcoin, although it is a tokenized currency that wants to compete with the world's leading cryptocurrency at some point. Publishing this token on Ethereum’s blockchain is a way to handle things, although one must admit that Bitcoin may always be in a secondary position due to this particular way.
So far, it seems that 0xBitcoin has won a lot of positive attention, even if it isn't a traditional ERC20 token. Many currencies appear and disappear, and they try to imitate existing major cryptocurrencies, and it seems that 0xBitcoin will also try to capitalize on this momentum. That being said, the mining aspect of this token raises some interesting questions and creates exciting opportunities.
Mining an ERC20 token
For some reason, this has attracted many opposition. By default, there is no reason or method to mine an ERC20 token, as they are just created and published on top of Ethereum and have no direct connection with mining. Because it is a currency with mining functions, this distinguishes xBitcoin from other currencies.
According to current statistics, the hash value of 0xBitcoin is estimated to be 6.15 TH/s. This is a pretty interesting number, especially since it shows that there are a lot of people who are deliberately and effectively pursuing this aspect of 0xBitcoin tokens. In addition, the currency has its own adjustment plan, and so far, 30% of the supply has been mined.
Do you need to mining?
Whether an effective mining component is needed is the biggest question when it comes to ERC20 tokens. As far as 0xBitcoin is concerned, the project has built-in mining capabilities for local smart contracts.
There are even several mining pools that effectively "mine" 0xBitcoin through this smart contract technology. Therefore, in the ERC20 ecosystem, this currency can be called a "pure mining currency", although this will undoubtedly spark many new debates over time. Being unique in the world of cryptocurrencies is never a bad thing.

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