EOS Proof of Work Coin (POW) [1] applies the PoW (Proof of Work) mining schedule and adjusting difficulty of Bitcoin (BTC) [2] to an EOSIO [3] Token.
50 POW are minted every 10 minutes for about 4 years, then the amount minted halves. This repeats until there are 21 million POW, exactly like BTC.
EOS CPU & NET resources are used to mine POW by transferring EOS to eosiopowcoin. Each time you send EOS to the eosiopowcoin contract account, that exact amount of EOS plus 0.0025% of the total POW supply in the eosiopowcoin account will be transferred back to you.
POW is a completely decentralized, trustless, open-source project without a developer allocation. Every single POW has been or will need to be mined. No POW were given free or pre-mined. Anyone can mine POW after using the setupminer action. POW minting will continue until supply reaches 21 Million. No one can stop the minting, mining or distribution of POW. The contract is keyless.
