It's Like Free Bitcoin...

To claim your free POW 'lite' simply sign-in using your Facebook or Twitter account (you can make a separate claim from each!)

Next claim: 44,256 POW 'lite', worth $1.31

POW explained...

POW is a crypto-currency that is being given to all users of Facebook and Twitter. If you're a user of Facebook or Twitter it is completely free to get an initial allocation, and the earlier you claim the bigger it is.

Although we're giving it away free, it's worth something, and is even rising in value. That's all down to the fact that 'you' are valuable, and when there are 100 million of 'us' connected in a network that is incredibly valuable. Just look at Bitcoin as a rule of thumb - Bitcoin has approximately 10 million holders and has a market capitalisation of $100 billion (as of Oct 2017) - that suggests a per user value of $10,000. If we are correct, that means the price of POW could rise dramatically as more and more people make claims.

The current version lets you send and receive POW with zero transaction fees with your Facebook friends. Soon we'll be releasing functionality that means you can do the same with your Twitter followers. Next will come the ability to transfer POW with any other user just by sending to their email address.

POW is all about recognizing your value, and giving it back to you. We hope you join us by claiming your POW, which is a rare thing - a free and riskless investment.

POW explained for Geeks...

POW is a standard ERC20 token on the Ethereum blockchain with two innovations that make it unique:

  1. POW 'lite' is the Non-Blockchain version of POW. It is held in the POWtoken.com account and enables holders to make free transactions with one another. Ultimately POW 'lite' will be fungible with the ERC20 POW that exists on the Blockchain.
  2. A global 'Airdrop' of POW 'lite' with enough to be claimed by every person on the planet, can be easily claimed by logging in with your Facebook or Twitter account (if you have both you can make two claims!). POW has the potential to be the most widely held currency on the planet.
The POWtoken.com 'Account' and POW 'lite'

Ethereum might change the world, but by the admission of its founder (Vitalik Buterin), the technology is not ready for mass market adoption. The Ethereum Blockchain can only handle 17 transactions a second which pales compared to the volumes achieved by services like Paypal and VISA.
Beneath the surface there is work being done by the Ethereum team on initiatives such as POS and 'Sharding', which should solve the problems of scalability and transaction costs.
In the meantime the POW 'lite' and the 'POW Account' concept creates a hybrid centralised/blockchain currency and payment system, which can be seen as a stepping stone to the ultimate goal of decentralised finance.
The total supply of token has been set at 231,802,823,220 POW. That means there will never be more than this number of units of POW created. A total of 19.3bn POW has been allocated to the developer team. That leaves 212,513,140,682 to be allocated to claimers on a 'first come, most served' basis.
Over the next few months we will be busy building a 'bridge' between POW 'lite' and POW ERC20, so that users can migrate their holdings out onto the Blockchain if they wish.

The 'Airdrop'

The global 'Airdrop' of POW 'lite' is achieved by leveraging the 3rd party validation and verification service provided by Facebook for 'Apps'. We will soon introduce other forms of social media login than just Facebook and Twitter, including Instagram, Reddit and Weibo. Logging in with any of these accounts will create a new allocation of POW 'lite', so users with more than one social media account will get more than one allocation. People have different networks of friends in different social media communities, so why punish them for this? Having said that we are ever vigilant to prevent users making multiple claims by logging in through the same social media network (known as a Sybil Attack). The 'Airdrop' will give users a starting balance for making transactions.

Rewarding Early Adopters

To create urgency, we've devised a simple 'algo' which rewards early adopters with a larger number of POW 'lite' than late adopters.

Next claimant will be number 112,979.

Allocation for claimant number 112,979 =
10,000,000,000 / (2 x112,979)
= 44,256 POW 'lite'

This is designed to encourage early adoption. Just in the time it has taken you to read this page there have probably been some new registrants, meaning the latest POW 'lite' allocation is less than the figure shown on this page. For this reason you will only know the exact amount of POW 'lite' you will receive after you have claimed.

What Do The Founders of POW Get?

POWtoken.com has been created by five tech industry professionals with experience spanning both Blockchain and traditional centralised server world. We are not raising any money from an ICO and not seeking funding. None of the founders receive any salaries or expenses in relation to the POW project. The founders are sharing 6.83% of the total ERC20 POW being issued. In addition 1.50% of the total ERC20 POW issued is being allocated to Bitzza Limited which is a UK registered company, owned by the founders, which will cover the costs of operating the centralised databases and any other costs that arise.

Token Spec:
Blockchain:
Ethereum, ERC20 Token
Address:
0xEb2dA9FAC54284cEA731D1F10bb34EEcB3c00c14
Total Supply POW:
231,802,823,220
Total POW 'lite' claims:
120,181,560,182
POWtoken.com Accounts Analysis (POW 'lite'):
Total Holders:
112,978
24 hrsPrev 24 hrsPrev 24 hrs
New Holders:
254827333054
Transactions:
7,8568,3649,173
Market Prices:
%1 hr%1 day%7 day
POW/ETH
0.000000042010.530
POW/USD
2.9709414E-5 -0.84 19.25 0
ETH/USD
707.367-0.848.7250.26
BTC/USD
17601.7-0.490.889.15
Total claimers to date:

112,978


Next claim:

44,256 POW 'lite'

Loading graph...

All about POW 'lite'

  • Please make sure you have a primary email address registered with Facebook
  • Please ensure that you have provided permission in Facebook settings to allow your email address and your Friends List to be sent to the POW app
  • You can do this in Facebook settings/ Apps
  • You come to POWtoken.com and simply click on the "Login With Facebook" or "Login With Twitter" link at the top of the page.
    Your POWtoken.com account is for sending and receiving POW 'lite' to and from your friends. Initially we have integrated with Facebook, but will soon roll-out more social media platforms that can be used. All the free allocations of POW 'lite', are simoultaneously represented by a real ERC20 token on the blockchain. These real ERC20 POW tokens are held in a single ETH account on the Ethereum blockchain. Your individual holding of POW 'lite' is kept track of using a centralised database and is 'off-Blockchain'. The POWtoken.com site operates that database and gives you access to your POW 'lite' and the ability to transfer it to friends (currenctly restricted to your Facebook friends, but soon to be including your friends on all the major social media networks).
    There are zero transaction fees on transfers when you send or receive POW 'lite' between other POWtoken.com account holders. At some point in the future we may introduce a small fee to cover the running costs for the centralised servers. If POWtoken.com proves to be a massive success, the costs of a centralised server could be start to be quite large and will require a small fee to be added to each transaction. This fees would likely be just 1 or 2 cents per transaction which is still a fraction of the costs of making similar transactions on the Blockchain currently.
    No, but there is a simple solution - send them a 'Facebook Friend Request' and as soon as they accept, they can log back into POWtoken.com and they will see you have been added to the list of contacts that they can send POW 'lite' to. In the next release we are planning to allow users on POWtoken.com to send POW 'lite' to other account holders who are not their Facebook friends - this will for instance allow you to be paid for service and goods from people who you do not know.
    No, but there is a simple solution - send them a 'Facebook Friend Request' and as soon as they accept , log back into POWtoken.com and you will see they have been added to the list of contacts that you can send POW 'lite' to. In the next release we are planning to allow users on POWtoken.com to send POW 'lite' to other account holders who are not their Facebook friends - this will for instance allow you to pay for service and goods from people who you do not know.
    Not yet. But our plan is to build a 'bridge' between POW 'lite' and POW ERC20 by December 2017. This bridge will allow you to transfer your POW 'lite' onto the Ethereum Blockchain where it will becom POW ERC20. You will then be free to sell your POW ERC20 for cash. So, in the long term, the answer to your question is yes.
    POW ERC20 is an Ethereum Blockchain asset or 'token'. Ethereum is the second largest cryptocurrency on the planet. Ethereum is slightly different to Bitcoin in that it is designed to allow 3rd parties (such as POW) to create 'Tokens' which piggyback on the Ethereum Blockchain. It means that you get all the benefit of a Blockchain, without the need for creating a network of miners to keep the ledger up-to-date. Of course, the miners have to be paid, which is why transaction costs on the Ethereum network are actually quite high. Our innovation is to 'lump' all the users accounts together (rather like a nominee service does for equity holdings) and keep them on a single ETH address (ETH or Ether, is the currency of the Ethereum Blockchain). We then get really creative by issueing the users with POW'lite' which they can trade with other POWtoken.com account holders, with zero transaction fees. The POW'lite' collectively add up to the total number of POW ERC20 being held in the single ETH account designated for this purpose. As we talk about elswhere in these FAQs, the plan is to create a bridge between the POW'lite' world and the POW ERC20 world, by December 2017.
  • Email address - We will only use your email address to send you notifications about your POW'lite' account. For example when you have received POW'lite' from a friend or to let you know about new developments at POW'lite', which will affect you. We will never sell your data or send you information from 3rd parties.
  • Facebook ID - This provides us with a unique way to identify you. We use this to ensure that we only provide each user with one free allocation of POW'lite'. We also use this to identify you if you make referrals or validate any claims so that we can be sure we are paying the right person.
  • Friends and Followers List - We use this to provide you with a simple and easy to use way of sending POW'lite' to your friends. We use the list to populate the drop down menu so it is easy for you to choose which friends you wish to send POW'lite'.
  • Tough Questions

    A nice way to think about this is using early telephone networks as an example. When the first telephone networks were developed, the phone companies used to give new customers phones and connect them to the network for free. When there were no other users on the network, the early adopters didn't get any utility from the phone. It was just a silent object which sat on their hallway table. Distributing the phones was just a cost, with no immediate benefit for the phone company. However, as the network started to grow, and people started to ring each other, the phones' utility started to increase, making ownership of the phone highly attractive and creating a virtuous circle which lead to almost 100% ownership amongst the public.
    The above can be applied directly to distribution of an electronic currency. Right at the beginning there is no real benefit in owning it, but as the network of owners grows, the utility grows massively, meaning that almost any transaction you currently do with traditional money could be done with POW 'lite' with zero fees and lightning speed and ease.
    Users who apply early get far more POW 'lite' than users who apply late. To create an urgency and a 'rush' we've structured the POW 'lite' allocations so that early adopters get far more POW 'lite' than late adopters. In fact, we want the first thousand or so claimants to make millions of USD from their free POW 'lite' allocations. Let's look at the numbers. The first public claimant will get 10b POW 'lite'. After each claim, the amount of POW 'lite' that the next user gets is automatically reduced. So by the time you get to the 10th claimant they only get 1billion POW 'lite'. When you get to the 100th claimant they only get 100m POW 'lite' and when you get to the 1000th claimant they only get 10m POW 'lite'. It carries on in that manner. The idea is to encourage a stampede which will mean we reach the utility 'tipping point' earlier rather than later. The utility tipping point is where a user's network of friends with POW 'lite' accounts means that it becomes generally accepted as a convenient and conventional form of payment between friends.
    If you are lucky enough to be claimant number 1 you will get 10 billion POW 'lite'. However, there will be many thousands of users hoping to be that lucky person, all pressing the claim button on the POWtoken.com site at the same time at 9:00 AM PT on 3rd Oct. It will be very similar to buying a lottery ticket, except in our case everybody who claims will get POW 'lite'. If you are the 10th person you will get 1 billion, if you are the 100th you will get 100 million, if you are the 1000th person you will get 10 million and if you are the 10,000th person you will get 1 million POW 'lite', if you are the 100,000th person you will get 100,000 POW 'lite'. It's impossible to predict how many people will claim, but there are 1 billion eligible facebook users across the planet, and our PR campaign is trying to tell as many of them as possible. All you can do is make sure you press the button at exactly 9:00 AM PDT on 3rd October. Good luck!
    There are 5 founders and several other junior partners in the team that is organising POW. We are collectively being issued 19.3 billion POW. Once there have been 1 billion claims for free POW, the combined founders allocation will be equal to 6.8% of the total issued POW. That is the only way that we are getting rewarded, there are no salaries or expenses being paid to founders.

    Buy POW

    If you want to buy the POW ERC20 token, there are now two exchanges where you can do so:

  • Etherdelta.com
  • Idex.Market

    The following service providers have info on POW:

  • CoinCodex

    The contract address for POW/ETH is as follows (Please do not send any ETH to this address):
    0xEb2dA9FAC54284cEA731D1F10bb34EEcB3c00c14

    To see recent POW transactions on Etherscan.io, click here.