Ethereum update: ERC918 – Mineable Token Specification
As of this morning, the ERC 918 specification draft has been merged into the Ethereum EIP master branch. This is a big moment for not only 0xBitcoin, but for the future of mineable tokens in general. A few highlights of this specification include:
* EIP918Interface – This is the most general interface that contracts should follow, essentially only requires the mint() function
* Creation of optional merge() function for merged mining use cases
* AbstractERC918 – A more specific implementation that implements mint(), and breaks the preceding operations into 4 different phases, hash, reward, epoch and difficulty adjustments, each realized as separate abstract internal functions to be implemented by the sub contract. It additionally stores state variables for challenge number, target, tokens minted, blocks per adjustment, epoch count and statistics for the last minted token block.
* Decoupling from other standards – The original spec was proposed as an extension of ERC20. After some thought and discussion, it made sense to remove this prerequisite as ERC918 should only define ‘mineability’. So to create a mineable ERC20, or a mineable ERC721, one only has to use multiple inheritance. (ie. contract AwesomeCoin is ERC20, ERC918 { } )
* Demonstration of a simple mining algorithm for illustration purposes
Thanks to infernal_toast, mikers, Alex Tsankov and the 0xbitcoin community for pulling together and making this happen. We went into this knowing that not everyone was philosophically aligned to the idea of mineable tokens, so thanks also to Arachnid and others at Ethereum for candid feedback and ultimately taking a secular, objective, and fair stance on it.
Original Pull Request: https://github.com/ethereum/EIPs/pull/918
edit:
Updated Rendering of the Spec: ( thanks /u/nickjohnson )
http://eips.ethereum.org/EIPS/eip-918
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