PosToken is a new proof-of-Stake smart contacts token that is based on an Ethereum platform. If you love Proof-of-Stake coins, but hate running different wallets them the PosToken is the token for you. The PosToken is based on the ERC20 Token standard. As an Ethereum token, the token implements the Proof-of Stake mechanism which means holders of POS, as known on the cryptocurrency exchanges, can earn extra tokens just by holding the token in their token wallets for a period of time.
The idea behind the PosToken is to issue users with an Ethereum Token that using the proof-of-stake mechanism and also to define a brand new token standard for POS tokens. The Token Standard is devised to specifically help developers to issue Proof-of-Stake tokens. The Token is a new innovation and a new era of the Crypto token industry.
PosToken mining guide
PosToken is mined using three methods. The method you use to mine the token depends on who is holding the token and the number of tokens they want to mine. Here is a guide that will help you mine PosToken.
Users of PosToken can hold their tokens for a period of time to keep mining the tokens. Users can hold token for atlases 3 days or even weeks. During this period, the token becomes equal to or greater than the Min Coin Age.
There are two methods that PosToken are mined under the Pops mining procedure. First by sending a transaction to your address. Any amount of coin is acceptable. The second step is using MyEtherWallet.com, Mist and any other software to execute a mint function. The software must be able to interact with contracts to execute the mint function.
If you are not sure of your current interest or account’s coinage, you can execute one of these functions:
- Annual interest: return current annual interest
- Coinage: return coinage of your account.
The return of annual interest or coinage means that your current token in your account does not meet the min coinage and annual interest for now.
How much does PosToken cost?
PosToken is free. The only thing that users need to do to become a token holder is to sign up for the airdrop. Mining of the PosToken requires a great deal of computing power to unlock the computational challenges. The Computing power need translates to the high amount of electricity power with means miners need to sell their awarded coins to foot the electricity bill.