What is 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 primecoins innovative consensus asks miners to search for longer and longer twin prime chains. Prime numbers are natural numbers that cannot be further divided by other natural numbers. They are not only important in mathematics, but also form the foundation for cryptography. Mathematicians throughout the ages have found them rather mysterious and difficult to grasp was an innate beauty to the Euclid proved Prime's infinite existence, and Riemann led the understanding of their distribution law, where a certain Riemann hypothesis remains unchallenged to this day. Even more mysterious and beautiful is the twin prime pair of prime numbers that differs only by two mathematicians still cannot prove their infinite existence, so they can only guess that the laws of twin prime twin prime can form longer and longer chains called by twin chain, with each twin doubling the average of the previous twin. These twin prime chains are not only so fascinating, but also easy to verify by computer, which allow Sonny King to build the primecoin consensus with them. All this is secured by cryptography to create a more intelligent and useful proof of work method and is now able to completely replace hash cash as the proof of work for distributed consensus.  primecoin not only allows miners to do more meaningful and useful work, it also solves the potential weakness of Bitcoin. Bitcoin security is tied to transaction fee collection. If not enough, transaction fees can be collected by the Bitcoin miners the mining market can collapse and take Bitcoin security down with it. Brian Collins mining market is not tied to transaction fee, and primecoin mining is designed to be stable. Prime coin protocol is very amenable to miners reducing their risks and nurturing stable and predictable security for the prime coin network. Primecoin a new era of consensus

Primecoin is one of many choice cryptocurrency tasks that have been launched because the preliminary success of Bitcoin, that was once launched in 2009. The first choice coin task (named Namecoin) was once added in 2011. In 2013 and 2014, the choice cash (altcoin) market grew exponentially, and many kinds of choice coin initiatives have been started.


Primecoin (XPM) is a blockchain-based cryptocurrency which makes use of proof of work technological know-how to generate new blocks and manipulate transactions. Primecoin brought the idea of the usage of blockchain mining to operate beneficial mathematical functions.

All cryptocurrencies require complicated mathematical troubles to be solved by way of computers in order for present blocks of records to be decrypted and for new encrypted blocks to be generated. This method is computing-intensive and consequently consumes a top notch deal of energy. But this mathematical hassle fixing does no longer serve any beneficial purpose. It is sincerely required in order to decrypt and encrypt data.

The Primecoin gadget stands out in that it makes use of the calculation of as-yet-undiscovered top numbers as the complicated mathematical trouble which need to be solved in order for new blocks to be created. In this way, the computing strength and strength which is ate up through the cryptocurrency serves a beneficial scientific function.