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Show HN: Lost Ethereum
18 points by buttershakes 178 days ago | hide | past | web | favorite | 2 comments
Hi guys,

I've written the first proof-of-mistake crypto token on top of Ethereum. You can see it at http://www.lostethereum.com/

It's basically a proof-of-burn substitute for users who mistakenly sent to the wrong address. It requires a web3 enabled browser, i.e chome with MetaMask, Parity, Mist, etc. This let's the web interface seamlessly interact with the Ethereum network.

Let me know what you guys think.




From the pdf:

> This balance is reduced by the edit distance between the string representation of the two addresses. A one character difference yields 100%, 2 characters is 50% and 3 characters is 33% of total amount.

I'd be more happy with an exponential reduction, something like 100%/50%/25%.

An error with 4 characters gets 0%? (I hope that an error with 19 characters gets 0%.)

> The contract has a 1% inflation rate over found Ether to compensate the author.

I think that "inflation" is the wrong term here. Probably "commission" or "discount", but English is not my first language. Inflation is when you get the discount every year / month / day.


The reduction is capped at 33%. It doesn't redeem any amount past 3 mistakes. The reason being is that I didn't feel comfortable reducing the keyspace by more than that, although given the size of the keyspace I could have probably made it more lenient. Most of the errors people make I think are up to about 3 characters, based on a completely casual and informal survey.

It's inflationary in the sense that the total LOST tokens is the total amount of Ether + 1%.




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