THIS IS NOT SOMETHING I AM ADVERTISING, INVESTING IN OR AM TELLING YOU TO INVEST IN. I AM SIMPLY WANTING OPINIONS, THE BELOW PARAGRAPH IS FROM THE COINS SITE. AND IS IN NO WAY MINE! I AM NOT, AND WONT INVEST IN THIS!!!!!!!!!! JUST TO BE CLEAR.
POW ERC20 is an Ethereum Blockchain asset or 'token'. Ethereum is the second largest cryptocurrency on the planet. Ethereum is slightly different to Bitcoin in that it is designed to allow 3rd parties (such as POW) to create 'Tokens' which piggyback on the Ethereum Blockchain. It means that you get all the benefit of a Blockchain, without the need for creating a network of miners to keep the ledger up-to-date. Of course, the miners have to be paid, which is why transaction costs on the Ethereum network are actually quite high. Our innovation is to 'lump' all the users accounts together (rather like a nominee service does for equity holdings) and keep them on a single ETH address (ETH or Ether, is the currency of the Ethereum Blockchain). We then get really creative by issueing the users with POW'lite' which they can trade with other POWtoken.com account holders, with zero transaction fees. The POW'lite' collectively add up to the total number of POW ERC20 being held in the single ETH account designated for this purpose. As we talk about elswhere in these FAQs, the plan is to create a bridge between the POW'lite' world and the POW ERC20 world, by December 2017.
Quit pumping your worthless shitcoin.
This is a centralized system, where you give custodial control of your funds to powtoken.com
Yay, they promise that some day they'll make it a real blockchain.
The description of the coin is silly. It claims to be PoW without a blockchain or a validation network (miners).
They are doing an airdrop, but only to people who give up Facebook or Twitter access. I'm sure nobody will game that system.
I haven't even read the white paper,(if there is one), but every bit of that website screams altcoin scam.
If you still believe in this farce, please explain how PoW can secure your funds without a blockchain or network. Otherwise take your shitcoin elsewhere.
That's sounds an awful lot like a pyramid scheme.