Primecoin and
Prime Chain Proof of Work
A new type of proof-of-work based on searching for prime
numbers is introduced
in peer-to-peer cryptocurrency designs. Three types of prime
chains known as
Cunningham chain of first kind, Cunningham chain of second
kind and bi-twin
chain are qualified as proof-of-work. Prime chain is linked to
block hash to
preserve the security property of Nakamoto’s Bitcoin, while a
continuous
difficulty evaluation scheme is designed to allow prime chain
to act as
adjustable-difficulty proof-of-work in a Bitcoin like
cryptocurrency.
Primecoin Whitepaper
Why Primecoin?
Useful PoW
Primecoin's Prime Chain Proof of Work secures the
blockchain through the search for Twin Prime Chains and
Cunningham Chains.
Energy Multi-Use
Primecoin is the first cryptocurrency to achieve energy
multi-use, offering an alternative paradigm for blockchain
security.
Mystery of Sciences
Primecoin pays homage to the deepest mysteries in Arithmetics,
which are now more and more seen as deeply connected to the
mysteries of our physical Universe.
Smooth Experience
Primecoin's transaction confirmation is both faster and
smoother.. Primecoin adjusts both network difficulty and
mining output smoothly.
Gold Simulation
As a cryptocurrency Primecoin simulates Gold better. Gold has
restricted production rather than artificial supply cap, which
may compromise network security.
Balanced Inflation
Primecoin's security is independent of network
transaction fee, and only provided for through balanced
inflation to compensate for mining.
Introductions
Primecoin in popular languages and imagination
Animated Introduction to Primecoin
Ever since the creation of Bitcoin, its consensus
algorithm has been based on Hashcash, which asks miners to
grind a secure hash function to find a smaller and smaller
hash value. In contrast to this, Primecoin's
innovative consensus asks miners to search for longer and
longer Twin Prime Chains.
View on Youtube ...
View on Youtube ...
28 Dec 2019, produced by
Primecoin Project
Exploring The Infinite With Primecoin
“An equation means nothing to me unless it expresses a
thought of God.”
Srinivasa Ramanujan
Bitcoin’s Proof-of-Work, based on Hashcash, is wasteful of energy. In fact, that’s entirely the point of Hashcash; to consume an attacker’s resources. Read More ...
Srinivasa Ramanujan
Bitcoin’s Proof-of-Work, based on Hashcash, is wasteful of energy. In fact, that’s entirely the point of Hashcash; to consume an attacker’s resources. Read More ...
6 Jan 2021, by
Gigamesh
Primecoin: The Cryptocurrency Whose Mining is Actually
Useful
One of the disadvantages of Bitcoin that its proponents
often gloss over is the fact that its mining algorithm has
little real-world value. The underlying issue is this: in
order to add a new block to the Bitcoin blockchain, a
Bitcoin miner must include a “proof of work”,
read more ...
read more ...
8 Jul 2013, by
Vitalik Buterin