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

Project Highlights

Decentralization
Decentralization enables network participants to work together towards a common goal. It encourages sound infrastructure and resists censorship.
Contract Compliant
DApps are here and will only become more prominent. Smart contract compatibility means 0xBTC can be used quickly and easily worldwide.
Limited Value
When governments, groups and corporations can create money on a whim, they devalue your money and make you poorer. Fundamentally, the one coin cap is a statement of respect for you, the holder of the funds. Only the market can determine how much your coins are worth.

Project Name Source

0xBitcoin is derived from a combination of the decentralized and mined commodity Bitcoin name and the term "0x", which means the asset resides on the Ethereum network. This is because all Ethereum addresses start with the characters "0x". The 0xBitcoin contract is located at the Ethereum address 0xb6ed7644c69416d67b522e20bc294a9a9b405b31, and the transparent code has been verified and can be audited on the Etherscan service.

Decentralized Tokens

Since 0xBitcoin is mined like Bitcoin, it behaves like a commodity. The difficulty of "mining" the commodity is automatically adjusted to the total computing power used to mine the commodity. The current state of the Ethereum ICO market and its demonstrable failure rate makes investors vulnerable to holdings of pseudo-value backed only by speculation. 0xBitcoin alleviates this problem by providing the Ethereum network with a Bitcoin-like decentralized asset capable of filling the role of numerous centralized tokens in a more indestructible and trustless format.
This powerful mechanism frees individuals from having to use third-party exchanges, leaving them vulnerable to security breaches and wallet compromises as well as third-party escrow. The movement away from centralization was a core tenant of classic Bitcoin that Satoshi Nakamoto originally intended (Satoshi Nakamoto, 2009). 0xBitcoin has features that 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 using centralized means, 0xBitcoin enables permissionless transactions within immutable perpetual 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 really a bitcoin, although it is a tokenized Take on the world's leading cryptocurrency at one point. Issuing this token on Ethereum's blockchain is one way of doing things, although one has to admit that Bitcoin will probably always be on the back burner because of this particular way.
So far, it seems that 0xBitcoin has garnered a lot of positive attention, even though it is not a traditional ERC20 token. With many coins appearing and disappearing, trying to emulate the existing major cryptocurrencies, it seems that 0xBitcoin will also try to capitalize on this momentum. Having said that, the mining aspect of this coin raises some interesting questions and creates exciting opportunities.
Mining an ERC20 token
For some reason, this has aroused a lot of objection. By default there is no reason or way to mine an ERC20 token as they are simply created and issued on top of Ethereum and have no direct connection to mining. Because it is a currency with mining capabilities, this sets xBitcoin apart from other currencies.
According to current statistics, the hash rate of 0xBitcoin is estimated to be 6.15 TH/s. This is a rather interesting number, especially since it shows that there are many people who are deliberately and effectively pursuing this aspect of the 0xBitcoin token. Additionally, the currency has its own adjustment scheme, and so far, 30% of the supply has been mined.
Is Mining Required?
Whether or not a valid mining component is required is the biggest question when it comes to ERC20 tokens. In the case of 0xBitcoin, the project has built-in mining functionality with native 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 lead to many new debates over time. Being unique in the world of cryptocurrencies is never a bad thing.

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