Primecoin

Primecoin

Coin Information

Algorithm Multiple
Proof Type PoW
Start Date 07/07/2013
Website PrimeCoin
Last BlockExplorer Update TS 2018-06-19 04:06:00
Difficulty Adjustment 1 block
Block Reward Reduction -
Total Coins Mined 23977528

Source : Cryptocompare.com

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About Primecoin

There are various crypto coins that have interesting features. One of these is Primecoin that has a proof-of-work based on prime numbers. Also, it is the first cryptocurrency that uses scientific computing. Users prefer this altcoin because its mining is better than that of Bitcoin mining. You might be thinking, what does this altcoin do? How come this altcoin’s mining is better than other cryptocurrencies?

Primecoin facts

This altcoin is not just a simple cryptocurrency, but it can also be used to conduct mathematical research. Instead of the usual SHA256 hashes that most cryptocurrencies use, this altcoin requires its miners to find chains of prime numbers. It is energy-multiuse compared to other blockchains. Also, this kind computation can be used in encrypting internet traffic.

Furthermore, this altcoin does not have a definite number of coins. Another advantage of this altcoin is that the difficulty level adjusts every block. The difficulty will depend on the achieving target of one block. For users, they will definitely love this altcoin because it has faster transactions. It can generate eight to ten times faster than Bitcoin blocks. This means that users can have more transactions.

How to start using Primecoin?

This altcoin might not be as popular as others but it has promising features. If you are interested to use Primecoin, you can go to its official website and download the Primecoin wallet. Currently, it is available for Windows and Linux. Then, head to a Bitcoin exchange that has Primecoin. Through the exchanges, you can buy, sell, convert, and even trade this altcoin. The exchange sites are also responsible for giving you the current standing of this altcoin and its price. As of this writing, you can go to BTC-e, CoinEx, Coins-E, and more.

Furthermore, you can also be a miner and join a crypto mining for this altcoin. You can either be a solo miner or you can join mining pools such as yPool, Candypool.net, and more. Through mining, you can also earn coins per solved block.

Conclusion

The creators of this altcoin do not want to create a simple cryptocurrency that is why this altcoin is different. With its unique proof-of-work, it has will not be a currency that you can use for buying goods and transactions but you can also use its codes as encryption keys. If you wish to be a part of history, use this altcoin and enjoy its benefits.

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