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Pascal Coin prides itself on being an easy to understand and easy to work with Crypto because it is very similar to a bank. Using accounts instead of a cryptographic address lowers the entry barrier for people not used to the crypto space. Everybody needs to have a personal account in order to receive or send coins. The name derives from the use of Pascal programming language in the reference client.
Genesis Date: 2016-11-08
Written in the Pascal programming language. This is the first cryptocurrency written in the Pascal programming language. Easy to understand for students and binary multi-platform compatible. (like "C++", the language used to make BitCoin)
- All code is new and written by the Pascal Coin creator Albert Molina
- Cross-platform. Source can be compiled with Delphi and/or Free Pascal compiler and run over with Windows / Linux / Mac
Pascal Coin works with ordinal numbered accounts instead of complicated cryptocurrency addresses, yes, like a traditional bank (from account "0" to account "XXXX")
- To operate with coins, first, you must have at least one account (like a bank)
- Accounts are created on each block by the miners. Each block creates 5 new accounts
- Users can't create accounts by themselves. Unless the user is a miner and creates a block. Users can only create public/private keys to operate with accounts. Users can also have someone with an extra account send one to their public wallet key.
- Crypto keys (Public key/Private key) are not part of the address like Bitcoin, keys are used as a personal password to operate with your accounts (like a password PIN), wallets can also be locked with a password.
- Due to the White Paper explained concept, historical transactions can be deleted, but there will always be some nodes with all historical transactions to check consensus on the blockchain.
Average block time - 5 minutes
- 288 blocks per day
- 105,120 blocks per year
- Note: Average is an estimation, due to internal adjusting mechanism, real average time is a value between 4 and 5 minutes, having a range of 288-360 blocks/day or 105,120-131,400 blocks/year
- Pascal Coin use's 4 decimal values: ex. 15.1234 (15.12345 is not a valid value)
- Initial reward per mined block is 100.0000 Pascal Coins per block.
- This value will be divided by 2 every 420,480 blocks (average 4 years), so the next cycle reward will be 50.0000, 25.0000, etc. ... until reaching 1.0000 Pascal Coin per block.
- The minimum reward will be 1.0000 Pascal Coin. After block 2,943,360 (avg 32 years) the block reward will remain a constant 1.0000
- Pascal Coin uses self-creating accounts. Each block produces 5 accounts
3 operation types can be done with Pascal Coin:
- Transaction 1 to 1: A single and simple transaction, from one account to another account.
- Change Account key: Change Public/Private key of an account.
- Recover funds: Explained on the White Paper. This is to prevent lost keys/lost coins inside the Pascal Coin blockchain. This operation can only be done by miners when mining.
- Recover funds can only be executed after 420,480 blocks when no operations occur in an account (approx 4 years)
In order to easily operate with Accounts, each account has 2 extra verification numbers.
- Account "0" -> "0-10"
- Account "1" -> "1-22"
- Account "12345" -> "12345-54"
Cryptographic keys (elliptic curve keys) used by Pascal Coin can be one of:
- secp256k1 (like bitcoin)
- See "SEC 2: Recommended Elliptic Curve Domain Parameters:" [http://www.secg.org/SEC2-Ver-1.0.pdf]
- Genesis block was created on August 11 2016
- This coin has NO PREMINE. All coins have been distributed to miners from block 0.
- Note: Current blockchain version is 1. The Pascal technical's can only change with a blockchain version upgrade