Minereum – A Self Mining Cryptocurrency

Proof of Work was the first consensus algorithm, the one that Bitcoin's is based on. It was groundbreaking, to say the least.

In the upcoming years the wastefulness of PoW was remedied by solutions like Proof of Stake (and all of its variations) that followed, and a few other, less know consensus algorithms emerged – like Proof of Presence, Proof of Capacity, and others. Naturally, all of them have their strengths and vulnerabilities.

However, Minereum is different – the tokens that are generated are not mined in the traditional way, nor staked, nor require any action by the user like keeping the wallet running or spending any computational or storage resource. They are generated by themselves, through a smart contract based on Ethereum. Here is the outline of this new Ethereum token:
https://www.minereum.com/

What's even more interesting is that, unlike Ethereum's, this token's supply is fixed at 136,576,000 Minereum tokens (MNE), an amount that should be reached in 47 years.

The current ideas regarding potential uses, as far as I understand, are related to the creation of ERC20-based tokens, which would allow people to create their own create Ethereum-based tokens that can be used for organizing ICOs, trading, or private use.

Still, there is one weakness that is the dependence on the robustness of the Ethereum network. This network itself would transition to the Casper (PoS) consensus algorithm.

Will the impact of this token be profound and influential on the way of thinking about the generation of cryptocurrencies in the future? Would a mechanism based on this idea, in the long-run, be adopted in future iterations of other popular cryptocurrencies? What other benefits would such a system provide? It's exciting to think about these questions and I will definitely keep an eye on the development of this token.