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Powh stands for "proof of weak hands". It is an Ethereum Token (also known as P3D-Token) and a Decentralised Application (dApp).
Actually it is more some sort of an amazing social experiment, and I am really excited how it will work out. I am pretty sure you do not want to miss out on this adventure.
The specifics of the Token are as following:
- the value of the P3D-Token rises with every Token buy, and falls with every Token sell
- every buy or sell of the Token costs a 10 % transaction fee
- all transaction fees are distributed to all P3D-Token holders in realtion to their Token Holdings
- all involved actions concerning the administration of the Token are handled by a decentralised application, some sort of a robot, that cannot be manipulated
Within the Powh-Cosmos there also exist two games that are designed to support the value of the P3D-Token; more applications might follow in the future.
These games are called Fomo3D Long and Fomo3D Quick, and simulate so called Initial Coin Offerings (ICOs). You can play them by buying keys, and while these keys generate revenue for their holders, the last key buyer will win the, during the game, accumulated jackpot.
Make sure you know the details of these games before playing them, as the chances of loosing Ethereum here are at least as big as winning some.
Is Powh worth it?
Powh seems to be well developed and the chance that it will be hacked are small, but they do exist.
As already mentioned, there is no chance of someone manipulating the decentralised application, it is a robot, and as it is decentralised, noone can stop it.
Profiting from it involves some aspects, as always:
- the P3D-Token needs to gain value over time, it needs to be bought
- people need to transfer the Token, or buy it, or sell it, so that P3D holders profit from the transaction Costs
- Ethereum should not loose too much value, as the P3D Token is directly linked to it
- if you are good in promoting you have the potential to also earn some affiliate rewards
- if the FOMO3D games are played intensively, P3D holders will also be rewarded
What I like About Powh?
- I think the whole project is well designed and developed
- I like the style of not taking oneself so serious and just trying out some new ideas concerning the exchange of values
- this project might have the potential to generate some sort of an Universal Basic Income (UBI) for everyone involved, if it works out in a positive way
What I disliked?
So far, actually: Nothing.
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