Phoeniχcoin: An ERC223 Token Mined Through Proof-of-Volatility

Abstract

This paper introduces the underlying mechanics and interface for PhoeniχCoin (PHX), an Ethereum ERC223-compliant cryptocurrency. The supply of PHX tokens is tied directly to the Ethereum balance of the smart contract underpinning the ‘EthPhoenix’ decentralised application, and mined using a novel, generalisable technique we refer to as proof-of-volatility.