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|Date of introduction||7 July 2013|
|Central bank||None, the primecoin peer-to-peer network regulates and distributes through consensus in protocol.|
|Inflation||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.|
- Primecoin protocol adjusts its difficulty slightly after every block. The difficulty change that occurs each block is targeted at achieving target of one new block created once per minute. Since Primecoin blocks are generated 8 to 10 times as fast as bitcoin blocks on average, Primecoin transactions are confirmed approximately 8 to 10 times as fast.
References[edit | edit source]
- Clark, Jack (2013-07-16). "Virtual currency speculators shut down cloud". The Register. Retrieved 2014-02-02.
- Buterin, Vitalik (2013-07-08). "Primecoin: the cryptocurrency whose mining is actually useful". Bitcoin Magazine. Coin Publishing Ltd.
- Miller, Rich (2013-12-17). "Currency Miners Cause Spot Shortages of Dedicated Servers". Data Center Knowledge. Retrieved 2013-12-18.
Further reading[edit | edit source]
- Franco, Pedro (2015). Understanding Bitcoin: Cryptography, Engineering and Economics. Chichester, West Sussex: John Wiley & Sons. pp. 175–176. ISBN 978-1-119-01916-9. Retrieved 2018-11-13.
- Pirjan, Alexandru; Petrosanu, Dana-Mihaela; Huth, Mihnea; Negoita, Mihaela (May 2015). "Research issues regarding the Bitcoin and Alternative Coins digital currencies". Journal of Information Systems & Operations Management. Romanian-American University. 9 (1). Archived from the original on 2018-11-13. Retrieved 2018-11-13 – via Gale.
- Orrell, David; Chlupatý, Roman (2016). The Evolution of Money. New York: Columbia University Press. pp. 200–201. ISBN 978-0-231-17372-8. Retrieved 2018-11-13.
- Antonopoulos, Andreas M. (2014). Mastering Bitcoin: Unlocking Digital Cryptocurrencies. Sebastopol, California: O'Reilly Media. ISBN 978-1-4919-2198-2. Retrieved 2018-11-13.
- Peck, Morgen E. (2014-04-29). "Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm". Scientific American. Archived from the original on 2018-11-13. Retrieved 2018-11-13.
- Gibbs, Samuel (2013-11-28). "Nine Bitcoin alternatives for future currency investments". The Guardian. Archived from the original on 2018-11-13. Retrieved 2018-11-13.
- Fanning, Kurt; Centers, David P. (2016-06-13). "Blockchain and Its Coming Impact on Financial Services". Journal of Corporate Accounting & Finance. John Wiley & Sons. 27 (5): 54–55. doi:10.1002/jcaf.22179. Retrieved 2018-11-13.
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