Memhash Community

→ Many users joined our humble community today; everyone is warmly welcomed! ❤️ → Almost 60,000 blocks have been generated, and only 3% of the total supply has been mined. → Many improvements will be made today. For instance, the miner reward will gradually decrease by 10% every 100,000 blocks until it reaches 10%, with the rest going to Share miners. → We're also introducing a new unique anti-bot system. To register in the app, users will need to make a refundable transaction. (You pay 50 Telegram Stars, which will be immediately refunded.) Note: As you register you receive 4000 energy as bonus, but your real total energy is only 2000. Ps. Join your group to discuss bugs and maybe you have ideas. we would like to listen them.

→ Today we are officially inited our blockchain with configuration: Total supply: 1,000,000,000 Total blocks: 1,000,000 Starting Block reward: 500 Mining Started: 29 October 2024 Mining duration: Appx. ~60 days. → #Memhash is the first on-device mining mini app. It's a simple application with almost one button. For the start you don't need to know much, just press 'Start Mining' and wait until you get some tokens. Once you get questions you can read more about it in our first post → Once all tokens are mined, they will be distributed among miners on TON Blockchain. Good look to everyone on mining!

Shorter version for everyone: → The Mini-app it self basically has the only one button "Start Mining" by pressing it you can earn some tokens which will be distributed on-chain after few weeks since now. → When you feel more confident and get more questions in your mind, please return and read longer version. → Feel free to join our group to discuss or ask a question.

#Memhash: Mining based game

#Memhash offers a mechanism for token distribution, leveraging the principles of Proof-of-Work (PoW) inspired by Hashcash, in a manner similar to Bitcoin mining. Participants (miners) generate blocks by computing valid hashes, with the first participant to successfully solve the hash receiving the block reward. In this framework, tokens are accessible to all participants, but each claim requires the successful completion of a computational challenge, creating a fair and equitable earning environment. The more computational power you have, the more chances to mine a block, but for more fair distribution we added 'share' and energy system.

How it works?

In simple words: you are using your device power to solve some kind of captcha to receive for that tokens in return. Specification: Total Blocks: 1,000,000 Total Token Supply: 1,000,000,000 coins Block Generation Interval: ~5 seconds per block Rewards: Rewards per block increase incrementally and starts with 500, promoting sustained participation while preventing early participants from dominating the token supply. Difficulty Adjustment: Mining difficulty is recalibrated automatically every 10 blocks to maintain consistent block generation. As the number of miners increases, so does the difficulty, mitigating the risk of accelerated mining. Energy: Since app it self doesn't have many social features, energy is applied to solve this problem and improve fairness.

Reward Allocation

Full Block Reward: If a single participant mines the block, they receive 100% of the reward. Shared Mining Rewards: When multiple participants contribute partial solutions (referred to as shares), the primary miner is awarded 70% of the block reward. The remaining 30% is distributed proportionally among the share contributors based on their contributions.

Mining Timeline

Mining Duration: The mining process will continue until all 1,000,000 blocks are generated, estimated ending date is ~31 December 2024. Token Distribution: Upon completion, the total token supply will be allocated to miners through the TON Blockchain.