0xBitcoin is designed to be used as a decentralized ‘bitcoin-like’ token within the Ethereum ecosystem and beyond. It avoids problems related to centralization and security because it is powered by the Ethereum Network and by globally distributed anonymous miners. Since it follows a standard protocol (ERC20), it is stored in a traditional Ethereum wallet and it is transferred using standard software which supports EIP20/ERC20 tokens. Since every 0xBitcoin token has been mined in a completely decentralized manner, there is no central body or central organization which controls or enforces any aspect of 0xBitcoin. The community owns and operates the token in a flat structure and every individual has the same power over the smart contract as any other individual. This is on purpose in order to follow the same model of Bitcoin and to establish 0xBitcoin as a commodity.