Primecoin
Template:Short description Template:DMCA Template:Infobox cryptocurrency Primecoin (Abbreviation: XPM) is a cryptocurrency that implements a proof-of-work system that searches for chains of prime numbers.[1][2]
Primecoin was launched in July 7, 2013 by Sunny King, who also founded Peercoin.[3][4]
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.[5][6][3][7][4][8]
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.[6][9] It was ranked as being one of the top ten currencies before 2014.[10]
Primecoin has a block time of one minute, changes difficulty every block, and has a block reward that is a function of the difficulty.[3][8]
References
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- ^ Page Module:Citation/CS1/styles.css has no content.Learning Bitcoin. Packt Publishing. 30 October 2015. ISBN 978-1-78528-615-5.
- ^ Page Module:Citation/CS1/styles.css has no content.Cryptoeconomics: Economic Mechanisms Behind Blockchains. Cambridge University Press. 28 February 2024. ISBN 978-1-009-02815-8.
- ^ a b c Page Module:Citation/CS1/styles.css has no content.Franco, Pedro (21 October 2018). Understanding Bitcoin: Cryptography, Engineering and Economics. Chichester, West Sussex, UK: John Wiley & Sons. pp. 175–76. ISBN 978-1-119-01914-5. Archived from the original on 17 November 2018.
- ^ a b Page Module:Citation/CS1/styles.css has no content.Peck, Morgen E. (29 April 2014). "Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm". Scientific American. Retrieved 17 November 2018.
- ^ Page Module:Citation/CS1/styles.css has no content."Exploring Primecoin: An Alternative Cryptocurrency Project - Codemotion". Codemotion Magazine. 16 November 2020. Retrieved 12 July 2022.
- ^ a b Page Module:Citation/CS1/styles.css has no content.Clark, Jack (16 July 2013). "Virtual currency speculators shut down cloud". The Register. Retrieved 17 November 2018.
- ^ Page Module:Citation/CS1/styles.css has no content.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 Page Module:Citation/CS1/styles.css has no content.Gibbs, Samuel (28 November 2013). "Nine Bitcoin alternatives for future currency investments". The Guardian. Retrieved 17 November 2018.
- ^ Page Module:Citation/CS1/styles.css has no content.Miller, Rich (17 December 2013). "Currency Miners Cause Spot Shortages of Dedicated Servers". Data Center Knowledge. Retrieved 18 December 2013.
- ^ Page Module:Citation/CS1/styles.css has no content.Gina Clarke (16 October 2018). "Proof-Of-Stake Guru Sunny King: "Blockchain Is Easy - We Just Need To Use It Like A Database"". Forbes. Retrieved 2 August 2024.
Further reading
- Page Module:Citation/CS1/styles.css has no content.Orrell, David; Chlupatý, Roman (2016). The Evolution of Money. New York: Columbia University Press. pp. 200–201. ISBN 978-0-231-17372-8. Retrieved 13 November 2018.
- Page Module:Citation/CS1/styles.css has no content.Antonopoulos, Andreas M. (2014). Mastering Bitcoin: Unlocking Digital Cryptocurrencies. Sebastopol, California: O'Reilly Media. ISBN 978-1-4919-2198-2. Retrieved 13 November 2018.
- Page Module:Citation/CS1/styles.css has no content.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. doi:10.1002/jcaf.22179.
External links
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