ERC223 token (PHX) can now be mined with new method. Proof of volatility.
>what? The supply of PHX tokens is tied directly to the Ethereum balance of the smart contract underpinning the 'EthPhoenix' decentralized application and mined using a novel, generalisable technique we refer to as proof-of-volatility.
>volatility of what? By owning stake in ethphonix (holding EPX tokens), you are able to mine a PHX tokens. An algorithm dictates proportional token generation according to the stake held in ethphoenix.io (proof-of-volatility). As one user put it, "it's like PoS, but instead of voting on blocks, it's more like a delegated stake - the new contract issues the new tokens based on your holding your EPX."
Ethphoenix (EPX) is designed to reward iron hands. By holding EPX you collect dividends from other token holders buying and selling. 10% of every transaction goes to the community pot then distributed accordingly based on stake. The more coins you have, the bigger the cut. The number one token holder now bought at the all time high with 50ETH and accumulated over 25+ eth from holding those tokens and not selling. Its only been 2 months.
Send PHX to the contract, you either double your PHX or lose it. No house edge.
Isaiah Cooper
pyrebirds.com
basic gambling dApps in the works for fun too. ethphoenix.io/hell/#/ - etherhell clone which uses PHX tokens and PHX are ERC20 so you'll be able to trade them on an exchange. Limitless options really.
