Show HN: How to Emulate Bitcoin on Ethereum – Bitcoints

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Published on October 11th, 2017 | by bitcoin

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Show HN: How to Emulate Bitcoin on Ethereum

What if we got rid of developers entirely, and just replicated and adapted the deflationary structure of Bitcoin on Ethereum.
We could model the entire process as an autonomous smart contract, and build a deflationary kernel into Ethereum itself.
Just like USD and other inflationary currencies are spent to “mine” Bitcoin, we could spend Ether in an algorithmic way to “mine” a Bitcoin clone.
It is decentralized in the sense that anyone with an Ethereum wallet can mine it.
It borrows its security and capabilities from the Ethereum network itself, and it is working right now.

Source: News.ycombinator.com



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