Ever since cryptocurrencies made a remarkable mark as new digital monetary currency, it is much admired by people from all over the world. The success of Bitcoin led to the introduction of many other cryptocurrencies. Although, some of these cryptocurrencies could not taste that success which Bitcoin did, resulting in their fall. But there are altcoins, which might not stand near to success of dominating cryptocurrency; still, they have maintained their stability. Among these altcoins, there is Primecoin. You might be not knowing much about it, because Bitcoin is the dominant cryptocurrency and takes away all the limelight giving little space to know about other crypto coins. But today we will let you know all about Primecoin.
How Much Do You Know About Primecoin
Like other cryptocurrencies, Primecoin is also a digital currency which is secured by cryptography. It has a close connection with the leading cryptocurrency, Bitcoin. Now you will wonder how is it possible. But it is true. Because Primecoin is derived from the Bitcoin. Based on the prime numbers, this altcoin is an ultimate form of proof-of-work. Apart from it, Primecoin is made with scientific computation technology.
Every technology be it cryptocurrency has a founder, Primecoin too was founded by Sunny King on July 7. This person is, however, known as an anonymous hacker. There are many different views about the real founder of Bitcoin too. But Satoshi Nakamoto is popularly known to be the cryptocurrency real founder.
What Makes Primecoin So Prime
Well, the answer to this question lies in its advantages. The best feature about the Primecoin is its innovative proof-of-work. Besides the provision of security, this altcoin also creates a chain of interest to numerical research. Thus, Primecoin, in contrary to Bitcoin, is equipped with multiuse energy. It sustains security at a high level. The payment transactions of Primecoin is much speedier than the dominating cryptocurrency (Bitcoin).
Cunningham and bi-twin chains are known to be special chains by Primecoin. Currently, the prime chain distribution is hard to understand. In arithmetic, primes distribution is considered to be as main discovery.
Primecoin Currency Symbol
If you are abreast with the latest news on cryptocurrency, then you will know about Primecoin currency symbol which indicates greek letter PSI, a tribute to the well-known mathematician, Riemann.
Checking Primes In The Blockchain
The ‘primeorigin’ field in the getblock is known to be the original prime chain, where it is possible to get prime numbers. While knowing about Primecoin, you need to know that this altcoin consists of fraction and integral length. For difficulty adjustment sustaining, the fractional length is assigned as it is a scoring system. Coming on to integral length, it is what we know about chain length.
Indeed, Bitcoin is the dominating cryptocurrency which is admired by most of the people. Still, it is better not to get ourselves limited to some selected cryptocurrencies, just because they seem to gather much attention. Though there might be competition brewing between the Bitcoins and altcoins, the former mostly lead above the rest of alternate coins. Apart from it, there are also those other coins which although might not come at par with it but can give close competition to it. Primecoin is one such coin which fares better than Bitcoin in terms of payment transactions, as it is much faster in terms of speed. So this was all about Primecoin, which you got to know about through this blog.