Bill Drummond, inventor of Antiample (XAMP) and Tokens of Babel (TOB), would like to return cryptocurrencies to their origins and has developed a monetary policy that is unique to date for both ERC20 tokens. Bitcoin and Ethereum are currently in a consolidation phase that, according to many analysts, could take a few weeks. In the meantime, crypto investors can focus on the Alt-Coin market, in which new and promising projects are emerging.
Who is Bill Drummond, another Satoshi Nakamoto clone?!
Both projects were developed by a mysterious programmer named Bill Drummond. Josh Rager now claims that these projects are trying to bring crypto back to its beginnings of “innovation and freedom,” principles Bitcoin creator Satoshi Nakamoto saw as fundamental to dismantling the traditional financial system. Tokens of Babel is, as reported in an article on the news blog Medium, the first of many “Bill Drummond experiments”. Tokens of Babel (TOB) was conceived as a new type of “adaptive commodity” that burns off part of the supply when a new all-time high is reached. Accordingly, the token was developed under the concept of ownership, which is proportional to market capitalization. Accordingly, the TOB combustion mechanism has the property of rebasing, which the inventor classifies as unique to date. This mechanism enables token holders to always own a fixed part of the entire token offer:
“The rebasing of TOB affects the number of tokens in your own wallet, but not the overall share of the overall offer. So if you have 0.5% of the total offer, you always have 0.5% of the total offer, regardless of the number of tokens in your own wallet. “