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

Project Highlights

Decentralization
Decentralization enables network participants to work together toward a common goal. It fosters a robust infrastructure and resists censorship.
Contract Compatibility
DApps are here and will only become more prominent. Smart contract compatibility means that 0xBTC can be used globally in a fast and convenient manner.
Limited Value
When governments, groups, and companies can create money on a whim, they devalue your moneys worth, making you poorer. Fundamentally, a capped coin is a declaration of respect for you (the holder of funds). Only the market can decide how much your coin is worth.

Origin of Project Name

0xBitcoin originates from the combination of the decentralized and mined commodity Bitcoins name with the term "0x," indicating the asset resides on the Ethereum network. This is because all Ethereum addresses begin with the character "0x." The 0xBitcoin contract is located at the Ethereum address 0xb6ed7644c69416d67b522e20bc294a9a9b405b31, and its transparent code has been verified and can be audited on the Etherscan service.

Decentralized Token

Since 0xBitcoin is mined like Bitcoin, it behaves as a commodity. "Mining" the commoditys difficulty automatically adjusts to the total computational power used to mine it. The current state of the Ethereum ICO market and its provable failure rate leave investors vulnerable to holding pseudo-values backed by speculation alone. 0xBitcoin mitigates this issue by providing an Ethereum network with a decentralized asset similar to Bitcoin, capable of fulfilling the roles of many centralized tokens in a more unbreakable and trustless format.
This powerful mechanism allows individuals to avoid using third-party exchanges and being subject to security breaches, wallet damage, and third-party custody. Moving away from centralization is a core tenant that Satoshi Nakamoto originally intended for classic Bitcoin (Satoshi, 2009). 0xBitcoin has the capability to help keep the Ethereum ecosystem open, accountable, trustless, and decentralized at every step of the value transfer process. Unlike Bitcoin, since 0xBitcoin is compatible with Ethereum smart contracts, it can interact with decentralized exchanges such as EtherDelta and ForkDelta. This means that while Bitcoin can only be traded via centralized means, 0xBitcoin can engage in permissionless trading within immutable, permanent smart contracts that cannot be censored or restricted by a central entity.

Three Controversial Aspects of 0xBitcoin (0xBTC)

Main Concept
As the name suggests, this is not real Bitcoin, though it is a tokenized currency that aims to rival the worlds leading cryptocurrency at some point. Issuing this token on Ethereums blockchain is one way of going about things, although one must acknowledge that Bitcoin may always remain second-tier due to this particular approach.
So far, 0xBitcoin seems to have garnered quite a bit of positive attention, even if it isnt a traditional ERC20 token. Many currencies have come and gone, trying to mimic existing major cryptocurrencies, and it appears 0xBitcoin will try to capitalize on that 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 point draws a lot of opposition. By default, there is no reason or method to mine an ERC20 token, as they are merely created and issued on top of Ethereum without any direct link to mining. Because it is a currency with a mining feature, xBitcoin sets itself apart from other currencies.
According to current statistics, 0xBitcoins hash rate is estimated at 6.15 TH/s. This is a rather intriguing figure, especially as it indicates many people are purposefully pursuing this aspect of the 0xBitcoin token effectively. Moreover, the currency has its own adjustment scheme, and so far, 30% of the supply has been mined.
Is Mining Needed?
When it comes to ERC20 tokens, whether there needs to be a valid mining component is the biggest question. In the case of 0xBitcoin, the project has native smart contract built-in mining capabilities.
There are even several mining pools effectively "mining" 0xBitcoin through this smart contract technology. Thus, this currency can be called a "purely mined currency" within the ERC20 ecosystem, although this will undoubtedly spark many new debates over time. Standing out in the cryptocurrency world has never been a bad thing.

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