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Primecoin Price (XPM)
$0.069247
5.61%
Primecoin Price Chart (XPM/USD)
Last updated 22 Jun 2022, 09:10AM UTC. Currency in USD.
Markets
| # | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
|---|---|---|---|---|---|---|
| 1 |
 AEX |
XPM / BTC | $0.08216300 | 0.87% | $1,597,380 | |
| 2 |
 Unnamed |
XPM / BTC | $0.03489442 | 30.95% | $0 | |
| 3 |
 SouthXchange |
XPM / LTC | $0.02729546 | 33.49% | $0 | |
| 4 |
SouthXchange |
XPM / BTC | $0.02945443 | 0.64% | $273 | |
| 5 |
 Freiexchange |
XPM / BTC | $0.02990589 | 5.59% | $2 |
XPM Price Statistics
- Primecoin Price Now $0
- 24h Low / 24h High $0 / $0
- Trading Volume $832,581
- Market Cap Rank #1584
- Market Cap $1,757,573
- Volume / Market Cap 0.4737
-
All-Time High
$7 -99.05%
Nov 30, 2013 -
All-Time Low
$0 499.87%
Nov 22, 2021
Primecoin: A Novel Cryptocurrency
Cryptocurrencies have gained immense popularity in recent years, with Bitcoin being the most well-known among them. However, there are numerous other cryptocurrencies offering unique features and innovations. Among these is Primecoin, a cryptocurrency that stands out for its emphasis on prime numbers and their impact on cryptography. Let's explore what makes Primecoin special.
Understanding Primecoin
Primecoin was introduced in 2013 by Sunny King, a well-respected cryptocurrency developer. It is based on the same underlying technology as Bitcoin, known as blockchain. However, Primecoin diverges from Bitcoin by focusing on a different proof-of-work algorithm that serves a dual purpose.
While Bitcoin's proof-of-work algorithm is primarily used to secure the network and validate transactions, Primecoin's algorithm simultaneously searches for prime numbers. This approach brings multiple benefits, including added security to the network and the potential to make scientific discoveries related to prime numbers.
The Significance of Prime Numbers
Prime numbers play a crucial role in cryptography due to their unique properties. They are only divisible by 1 and themselves, making them ideal for creating secure cryptographic keys. Primecoin leverages the mathematical utility of prime numbers to enhance the security of its network.
The Primecoin Mining Process
Similar to Bitcoin mining, Primecoin mining involves solving complex mathematical problems. However, Primecoin's algorithm differs by requiring miners to find long chains of prime numbers, known as Cunningham chains. The discovery of these chains contributes to both the security of the network and the advancement of mathematical research.
Advantages of Primecoin
Primecoin offers several advantages over traditional cryptocurrencies. Firstly, its reliance on prime numbers provides additional security measures, making it more resistant to potential attacks. Additionally, the discovery of new prime number chains has practical applications in various mathematical fields, earning Primecoin recognition as a valuable scientific contribution.
Moreover, Primecoin's unique proof-of-work algorithm promotes energy efficiency compared to Bitcoin. This is because finding prime numbers requires less computational power compared to cryptographic calculations performed in other cryptocurrencies.
Conclusion
Primecoin stands out among the multitude of cryptocurrencies by incorporating prime numbers into its core functions. By combining the security benefits of cryptography with potential mathematical discoveries, Primecoin offers a compelling alternative for cryptocurrency enthusiasts and researchers alike. Its innovative approach to mining and emphasis on scientific contributions make Primecoin a significant player in the ever-evolving world of cryptocurrencies.