MarxToken

The fairest and most nonfunctional currency

Made by kesy for SDHacks 2017 Nanome Blockchain Hackathonception challenge

Inspiration

I wanted to create a currency that had inherit properties that combated income inequality.

What it does

The Marx token can only be transferred in increments of 1 to accounts with a balance of 0 Marx tokens. This guarantees no one can ever hold more than 1 Marx token at anytime except for the creator of the Token. Because of there restrictions on the Marx token, an economy based on the Marx token would never experience income inequality because wealth is equal, fixed, and not easily redistributed

How I built it

I built the Marx Token on the Ropsten Test Network using the Solidity Remix online compiler and MetaMask to interface with the Ethereum network.

Challenges I ran into

The WiFi in the arena was unusable and had trouble finding test ether to validate the contracts and deploy my token.

Accomplishments that I'm proud of

I am proud that I got to bring this idea to life and that I was able to find good resources that gave me a better understanding of how Ethereum works.

What I learned

I learned more about how Cryptocurrencies work and more specifically how gas lights and limits make Ether unique. I also familiarized myself with Ethereum development tools, test networks, and compilers.

What's next for MarxToken

I hope to eventually deploy Marx on the Ethereum Main Network and perhaps add new mechanics to the currency more usable while preserving the properties that fight income inequality.

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The Marx Token is at token deployed on the Ropsten Test Ethereum Network.

There are currently a fixed 11.2 billion units of Marx, one for each of Earth's future 11.2 billion (the current prediction for Earth's max population).

What makes the Marx Token unique is that no account can have more than one Marx at a time and the unit cannot be further subdivided since its decimal place is set to 0.

At any given time each account on the Ethereum network can hold either 1 or 0 Marx except for the creators account which curerntly holds all 11.2 billion.

This may seem like the worlds worst case of income inequality, but on the contrary, since each account can only ever have at most 1 Marx, no matter how many Marx the creator has their usable value to another person will only ever be 1 Marx.

This restrication on transaction and flow of Marx makes it a very impractical and mostly non functional form of currency and in practice I am confident people will find other forms of currency.

Unfortunatly since the Marx is not deployed on the Main Ethereum Network (because that costs real people money) it cannot be traded on the main network, but you can still try it out on the Ropsten Test Network from the contract address: 0x789e150aa256b81835fcec9cf75258ebcad92453

Built With

• ether
• ethereum
• ethereum-main-network
• metamask
• ropsten-test-network
• solidity