Mobile Fungible Tokens (MFT or MiftyCoin) is a different way of crypto-mining. Instead of spending large amount of energy with Proof of Work (PoW) or risking large amounts of money with Proof of Stake (PoS), MiftyCoin uses Proof of Human Work (PoH): mining is done by humans finding an optimal solution to a 24-tile puzzle autogenerated from the blockchain.
All wallets and the blockchain are encrypted and maintained anonymously.
All the mining energy is spent by humans solving puzzles in their mobile phone.
Each wallet is encrypted with a key that is stored only in the user's mobile phone.
MiftyCoin (Mobile Fungile Token or MFT) is a cryptocurrency mined with Proof of Human Work (PoH). Value is created by human effort spent in solving 24-tile sliding puzzles autogenerated from the blockchain. This is a greener alternative than Proof of Work (PoW), as most of the mining energy is spent by humans, not computers.
In Proof of Work (PoW), thousands of computers compete to solve a computationally-intensive problem, impossible to solve by humans and generated from the blockchain; this has resulted in a harm to the environment, as millions of watts of power are consumed every hour!
In Proof of Stake (PoS), miners place a "bet" (or "stake") by appending a transaction to the block that is being mined. The higher the bet, the higher the chance of winning a reward. This approach, though also being a green alternative to PoW, can be very expensive.
New puzzles are generated every 10 minutes. Each generated puzzle is unique to the solver, as it is a function of many things like: the block's unique identifier, the hashes of all transactions in the block and the solver's address.
For a mined block, the winner is the player who: (i) has a solution with the highest score; and (ii) has the lowest block hash value (a tie-braker for solutions with similar score).
The value of the reward is MFT$50, minus a small broker fee.
