Tutorials:Mint Transaction

Mint Transaction

Go to the Spring Tokens Smart Contract in Ethereum:

0xf04aF3f4E4929F7CD25A751E6149A3318373d4FE View on Etherscan

Mint Transactions

Click on the Transactions tab and find the latest 0xpool.eth MINT transaction:

0xpool.eth is a mining pool, and you can check that it has been mining Seasonal Tokens.

Task:

Find the 0xPool.eth address.

Mining Pools

Seasonal Tokens smart contracts are modeled after Bitcoin, and the mining difficulty is adjusted so that there is one reward every 10 minutes on average.

There is one call of the Mint function every ten minutes on average. But if you see the Transactions history there are very few Mint transactions sent.

Seasonal Tokens Mining Pool

Due to the mining difficulty it is very expensive to solo-mine tokens, and most mining is done by mining pools, where many participants share their computing power to find solutions and they are distributed among all miners.

The Seasonal Tokens mining pool collects the solutions of individual miners and sends them to a mining pool smart contract that is responsible for calling the Mint function in the Tokens smart contract.

This call is not a transaction, the contracts talk to each other without making transactions, and that is the reason why it doesn't show up as Mint transactions in the Token contract.

The Mining Pool smart contract becomes the owner of the newly minted tokens. Miners have to withdraw their tokens from the mining pool to actually have them.

The tokens are not "transferred" from the Tokens Smart contract to the mining pool contract. Instead, the Token contract only "updates" the balances of the mining pool contract.

The Token contracts are just a database of balances.

The 0xpool.eth mint transaction appears in there because the solution to the proof of work was sent from a wallet address, and so it needs to send a transaction signed by that address.

All transactions come from wallet addresses. 

In Seasonal Tokens Mining Pool a wallet is used to send the transactions to the pool contract, which then calls the token contract's mint function. The Mining Pool contract itself is not public, and it's code is not displayed in the "Contract" tab for security reasons.

Exercise:

To do some blockchain detective work, in the next quest we will examine the 0xPool.eth address and find out who is paying for the Gas. If you visit the address page and look in transactions, you can see who is sending Ether to the contract to pay for transactions.