BSOV Token Has Stopped Minting New Tokens
The mining functionality of the BSOV smart contract has been “bricked” due to a bug in the smart contract. What does this mean?
This happened last year, and most of the BSOV community already knows this, but I want to clarify a few things for the newcomers.
What Happened to BSOV Token? — A Timeline
June 2, 2022 — Infernal_Toast/Ethereumdegen announced that they found a bug in the mineable token contract of 0xBitcoin (0xBTC), on which BSOV Token is based:
December 2, 2022 — A miner of BSOV Token deliberately “bricked” the mining functionality by finding two solutions (1)(2), as demonstrated in the image below:
What Happens with BSOV Token Without Mining?
BSOV Token is still functioning as a normal ERC-20 token; you can still transact, and BSOV is still being burnt with every transaction. BSOV has now become more scarce, so there will be less BSOV to go around.
BSOV Token Was Inflationary, Now It Is Completely Deflationary
When mining was active, there was significant inflation in the supply of BSOV. Just like Bitcoin (BTC), there would have been 21 million BSOV tokens minted. Now the minted supply of BSOV Token has stopped at approximately 4 million tokens (3,980,500 BSOV), and no more tokens will ever be minted. The inflation of BSOV has come to a halt and is now purely deflationary.
Will BSOV Mining Ever Start Again?
Mining will never start again on the original token contract. However, someone can deploy a new contract that has fixed the bug. If someone does deploy a new contract, it will be voluntary to use the new contract, and the two contracts may co-exist.
The community has discussed that there are no incentives for holders to want to start mining again, but others have said that mining is an essential part of the design and distribution of BSOV Tokens.
What do you think? Feel free to join the discussion in the BSOV Token’s Telegram group.
