Over the past year I have worked to bring the concept of Proof of NFT to the world.
In the early days of crypto, if you wanted to launch a new token you had to create your own blockchain and then convince enough users to run specialized software (wallets and nodes) to secure your blockchain. This was a technical hurdle that the variety of smart contract blockchains (Ethereum, Solana, SUI, etc) have solved. However, the ability to easily create a token and then have instant 100% liquidity of the token has lead to the pump and dump meme tokens. Without a time element to build a token community, a distributed token holder group, the current token distribution methods have issues.
We have solved the distribution of smart contract tokens over time with the Proof of NFT mining concept. Traditional crypto mining does allow a large userbase to have tokens distributed over time. Mining is also technically difficult, may be very expensive, and requires constant connectivity. We removed those barriers by virtualizing the mining process. NFTs can act as a miner. Smart contracts are used for the distribution based on ownership of the NFT miners. We allow any existing NFT to become a miner, or users may purchase a mining NFT.
Onboard today at vhash.xyz. A full whitepaper details the process. Here is the look at one of my NFTs mining away.
