Primecoin
protocol.[citation needed] | |
| Date of introduction | 7 July 2013[1] |
|---|---|
| Inflation_rate | Limited release, production rate before this limit re-evaluated with the production of every block (at a rate of approximately 1 block per minute) based on the difficulty with which primecoins are produced.[citation needed] |
Primecoin (
proof-of-work system that searches for chains of prime numbers
.
History
Primecoin was launched in 2013 by Sunny King, who also founded Peercoin.[2][3]
Unlike other cryptocurrencies, which are mined using algorithms that solved mathematical problems with no extrinsic value, mining Primecoin involves producing chains of prime numbers (Cunningham and bi-twin chains). These are useful to scientists and mathematicians and meet the requirements for a proof of work system of being hard to compute but easy to verify and having an adjustable difficulty.[4][1][2][5][3][6]
Shortly after its launch, some trade journals reported that the rush of over 18,000 new users seeking to mine Primecoin overwhelmed providers of dedicated servers.[1][7]
Primecoin has a
References
- ^ a b c Clark, Jack (16 July 2013). "Virtual currency speculators shut down cloud". The Register. Retrieved 17 November 2018.
- ^ ISBN 978-1-119-01914-5. Archivedfrom the original on 17 November 2018.
- ^ a b Peck, Morgen E. (29 April 2014). "Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm". Scientific American. Retrieved 17 November 2018.
- ^ "Exploring Primecoin: An Alternative Cryptocurrency Project - Codemotion". Codemotion Magazine. 16 November 2020. Retrieved 12 July 2022.
- ^ Pirjan, Alexandru; Petrosanu, Dana-Mihaela; Huth, Mihnea; Negoita, Mihaela (2015). "Research issues regarding the Bitcoin and Alternative Coins digital currencies". www.thefreelibrary.com. Romanian-American University via Gale. Archived from the original on 17 November 2018. Retrieved 17 November 2018.
- ^ a b Gibbs, Samuel (28 November 2013). "Nine Bitcoin alternatives for future currency investments". The Guardian. Retrieved 17 November 2018.
- ^ Miller, Rich (17 December 2013). "Currency Miners Cause Spot Shortages of Dedicated Servers". Data Center Knowledge. Retrieved 18 December 2013.
Further reading
- ISBN 978-0-231-17372-8. Retrieved 13 November 2018.
- Antonopoulos, Andreas M. (2014). Mastering Bitcoin: Unlocking Digital Cryptocurrencies. Sebastopol, California: ISBN 978-1-4919-2198-2. Retrieved 13 November 2018.
- Fanning, Kurt; Centers, David P. (13 June 2016). "Blockchain and Its Coming Impact on Financial Services". Journal of Corporate Accounting & Finance. 27 (5): 54–55. .
External links
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