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.
Proof of Work (PoW) works with EOSIO
Blockchain CPU mining on EOS is virtual Proof of Work mining, without the threat of a 51% attack. Proof of Work is the fairest, most decentralized means of distributing and creating new cryptocurrencies.
Use your EOS tokens as blockchain cryptocurrency miners in perpetuity. Your EOS tokens don't need power or upgrading to stay competitive against other miners on EOS. The inflation in EOS is your cost of maintenance, electricity, and upgrades. Use your EOS to its full potential, don't let it go to waste.
You can support further development of POW by donating POW | EOS | BTC to Ned. Donations to Ned reward the team's efforts and encourage new development while keeping POW distribution fair, decentralized, and true to the spirit of Bitcoin.
Send EOS / POW donations to eosiopowteam
Send BTC donations to 1PoWbtCnsc3VfhJX3P6mdrAdZWUJ6qLTE9
Bitcoin pow algo is a religion... a very social outcome.