Layer 2 Proof-of-Work rewards based on provided Stake value, implemented as a Smart Contract on Ethereum network
PoW is a simple operation of find a right number (nonce) that produces a hash less that minimal boundary (difficulty). A PoW miner which finds such number first receives a reward for that. It'a basic element of blockchain, and this is how it works in Ethereum, Bitcoin and most of other blockchains
PoS is an alternative to that. At that case a miner simple puts money (stake) to get a random change to get block reward.
SoPoW is a mix of PoW and PoS, implemented as a smart contract. A user makes "work" (nonce number) and put it as a stake. nonce is ether amount
A user sends some Ether to the Smart Contract address. If hash of sent value together with existing stake is better that previous hash, then current sender becomes winner util round ends, if nobody can provide better value. Anyone can provide/send Ether and by the end of the round address that happened to provide transaction with smallest hash get accumulated amount.
Formula is: WORK = HASH(PREVIOUS_WORK, TOTAL_ACCEPTED_AMOUNT, LAST_WINNER, SENT_VALUE) - SENT_VALUE
This project is a social and technological experiment, and may work not as expected. Provided AS IS, no guaranties given, you use it on your own risk. If you decide to participate you do it on your own risk. Citizens and/or residents of North Korea and Unites States are not allowed to participate