0xBTC seems to be PoW mineable from what I've read in the past about it (click here for a link to its official website), though the coin doesn't seem to be very successful at the moment and hasn't seen much major price action since its first few recorded months on Coinmarketcap. For more specifics to its PoW mechanism, the coin's using the keccak256 algo according to its whitepaper (click for direct link) and it seems to work very similarly to other mineable coins like BTC (the total supply's even 21 million just like BTC). Just doesn't seem like it's picked up any major uses besides being a PoW mineable token, hence the token's currently low price.
Thanks for letting me know about this. I've never heard about a Bitcoin alternative on the Ethereum blockchain before, probably because of the lack of marketing/promotion from the team. The mineable ERC-20 token performs great, but prices are ridiculously low these days. I believe that 0xBitcoin is undervalued today, since it has the same total supply as Bitcoin. Maybe most people haven't heard about this wonderful token on the ETH blockchain yet, as they're focused on the big players in the crypto market. Considering that it's the only PoW-based ERC-20 token in existence (as far as I know), it could gain an advantage over other tokens that are more of a common thing.
Sometimes I wonder why haven't other tokens adopted 0xBitcoin's PoW model? It would be nice to have a variety of PoW-based ERC-20 tokens on the Ethereum blockchain just to prove its superior capabilities than Bitcoin in every way. My guess is that once PoW and PoS-based ERC-20 tokens start rolling in the ETH blockchain, then most crypto projects would simply stop using Bitcoin's codebase in every way (as it's much easier to launch a PoW or PoS token on an existent blockchain like Ethereum).
Nonetheless, I'll try mining this brand-new token since it has a lower difficulty than Bitcoin itself. Hope to get lucky someday, if 0XBTC ever reaches three digits across the crypto market.
