What is Primecoin?
Primecoin is an experimental cryptocurrency that introduces the first scientific computing proof-of-work to cryptocurrency technology. Primecoin’s proof-of-work is an innovative design based on searching for prime number chains, providing potential scientific value in addition to minting and security for the network. Similar to Bitcoin, Primecoin enables instant payments to anyone, anywhere in the world. It also uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Primecoin is also the name of the open source software which enables the use of this currency.Release date: July 7th, 2013