PROOF: A Peer-to-Peer Mineable Coin
Abstract. A purely peer-to-peer version of Bitcoin's mining would let coins be minted directly by work, with no GPU farm and no mining pool. PROOF reimplements Bitcoin's proof-of-work as a token on the Robinhood chain: real hashing, difficulty that retargets, a reward that halves toward a hard cap of twenty-one million, and no premine. Miners commit their solution blind and then reveal it, so no sequencer or bot can steal a nonce. A Uniswap V4 hook pays each miner the block subsidy plus the pool's swap fees, so as the subsidy halves the fee market sustains mining. You mine it in your browser.
1.Introduction
Bitcoin introduced money that enters circulation through work: miners search for a hash below a target, and the network mints new coins to whoever finds one first. PROOF ports that mechanism, unchanged in spirit, to a token on a fast chain. There is no premine and no team allocation. Every coin is mined.
2.Proof-of-Work
To mine, a participant searches for a nonce such that the hash of the current block falls below the difficulty target. The search is real work; verification is instant. Difficulty retargets to hold a steady block time as miners come and go. The block below is being mined right now, in your browser.
3.Commit and Reveal
On a chain with a single sequencer, a miner who broadcast a winning nonce would risk having it reordered or copied. PROOF mines in two steps: a miner commits the hash of a solution, then reveals it a moment later. The sequencer and other bots see only a blind commitment, so a nonce cannot be stolen or front-run. The proof-of-work stays real; only the ordering attack is removed.
4.Halving and Supply
The block reward halves on a fixed schedule and the total supply converges to twenty-one million coins. Nothing can mint beyond the cap. The deployer holds zero; the only way in is to mine, or to buy from someone who did.
5.The Fee Market
A Uniswap V4 hook collects a small fee from every swap and pays it to the next miner alongside the block reward. Early on the reward dominates. As it halves toward zero, the swap fees carry the incentive to keep mining. This is Bitcoin's transition from subsidy to fees, running on-chain from the first block.
6.Fair Launch
The market is created by a single-sided liquidity position seeded at launch, with the liquidity tokens burned. No insider allocation, no vesting, no privileged mint. Each of these is verifiable at the contract address.
References
- PROOF is an homage and is not affiliated with Bitcoin or its authors.
- On this chain, proof-of-work is a fair-distribution and game mechanic, not consensus security. Ordering and settlement are secured by the chain itself.
- The in-browser miner is a client-side demonstration that grinds real SHA-256; the live chain uses keccak-256 commit-reveal. Illustrative figures are not real values until launch.
- Nothing here is financial advice. Memecoins are volatile and can go to zero. Read the full disclaimer.