Title: Prime coin Post by: mokimarket on April 03, 2013, 06:31:46 PM Just a concept, but would it possible to create a coin base on prime number. Where each new prime number discovered on system creates a new coin?
So at the beginning it would be really easy to make coins: 2,3,5...and obviously an infinite possibility of coins exists but new coins will be determined on the ability to find new largest prime numbers. If such a coin existed there would be a gold rush of mathematicians trying to find larger and larger primes. I dunno if this is even possible...anybody? Title: Re: Prime coin Post by: wtfvanity on April 03, 2013, 06:44:56 PM The larger the prime gets, the greater distance you would have between blocks. This week, it might be an hour next week, a day or two. In a month you may not see a block for a month.
Title: Re: Prime coin Post by: temor on April 03, 2013, 06:47:28 PM The larger the prime gets, the greater distance you would have between blocks. This week, it might be an hour next week, a day or two. In a month you may not see a block for a month. If you increase the payout accordingly it could still be worth it though, right?Title: Re: Prime coin Post by: flound1129 on April 03, 2013, 06:50:22 PM Just a concept, but would it possible to create a coin base on prime number. Where each new prime number discovered on system creates a new coin? So at the beginning it would be really easy to make coins: 2,3,5...and obviously an infinite possibility of coins exists but new coins will be determined on the ability to find new largest prime numbers. If such a coin existed there would be a gold rush of mathematicians trying to find larger and larger primes. I dunno if this is even possible...anybody? it's not really mathematically/computationally expensive to generate primes afaik Title: Re: Prime coin Post by: RoadTrain on April 03, 2013, 06:55:06 PM How would the network confirm that the number is prime? That's a huge mathematical problem.
Title: Re: Prime coin Post by: mokimarket on April 03, 2013, 06:58:58 PM How would the network confirm that the number is prime? That's a huge mathematical problem. You pay miners to verify that new prime candidate is actually prime. They get rewarded with coins for each sucessfull verification. Title: Re: Prime coin Post by: chriswen on April 03, 2013, 07:06:11 PM And how do you confirm its the next prime?
Title: Re: Prime coin Post by: RoadTrain on April 03, 2013, 07:08:53 PM How would the network confirm that the number is prime? That's a huge mathematical problem. You pay miners to verify that new prime candidate is actually prime. They get rewarded with coins for each sucessfull verification. Title: Re: Prime coin Post by: chriswen on April 03, 2013, 07:09:53 PM I don't think implementing prime coin as a currency is feasible. If you want to help find primes you can contribute your CPU or GPU power to a BOINC project.
Title: Re: Prime coin Post by: mokimarket on April 03, 2013, 07:11:52 PM I don't think implementing prime coin as a currency is feasible. If you want to help find primes you can contribute your CPU or GPU power to a BOINC project. Ok, it was mainly just a speculation, thought it would be a cool idea since it would be easy for people to understand how to create more coins and would give monetary incentive to contributors to mathematical research Title: Re: Prime coin Post by: RoadTrain on April 03, 2013, 07:12:32 PM But maybe there are some other NP-hard problems that can be used but I think hashing is the best approach.
Title: Re: Prime coin Post by: wtfvanity on April 03, 2013, 08:59:47 PM The larger the prime gets, the greater distance you would have between blocks. This week, it might be an hour next week, a day or two. In a month you may not see a block for a month. If you increase the payout accordingly it could still be worth it though, right?Huh? Each block in bitcoin and most alt chains that I am aware of, place transactions into a block. A block happens in BTC, every 10 minutes. In prime coin, blocks could be months apart... what do you do with all of the transactions? Another good point is who confirms them? Look at the GIMPS project http://www.mersenne.org/ They are excited if they find one mersenne prime a year... and they have tons of people contributing power to the project. Although not as big as Bitcoin, it takes a long time. And then it takes a day or two to verify. SHA256 is different for proof of work. It is VERY hard for me to find the next block by myself. Without ASICs pretty much impossible. However, on a tiny little Intel Atom, I can verify every single block in the block chain, processing hundreds of blocks per minute. You can't do the same with very large prime numbers. Title: Re: Prime coin Post by: mokimarket on April 03, 2013, 09:25:38 PM The larger the prime gets, the greater distance you would have between blocks. This week, it might be an hour next week, a day or two. In a month you may not see a block for a month. If you increase the payout accordingly it could still be worth it though, right?Huh? Each block in bitcoin and most alt chains that I am aware of, place transactions into a block. A block happens in BTC, every 10 minutes. In prime coin, blocks could be months apart... what do you do with all of the transactions? Another good point is who confirms them? Look at the GIMPS project http://www.mersenne.org/ They are excited if they find one mersenne prime a year... and they have tons of people contributing power to the project. Although not as big as Bitcoin, it takes a long time. And then it takes a day or two to verify. SHA256 is different for proof of work. It is VERY hard for me to find the next block by myself. Without ASICs pretty much impossible. However, on a tiny little Intel Atom, I can verify every single block in the block chain, processing hundreds of blocks per minute. You can't do the same with very large prime numbers. That makes sense: SHa256 is a hard to solve easy to verify problem; while Finding large prime numbers is a hard to solve hard to verify problem. Maybe you make it so that all numbers are coins, however those that someone can find factors of are no longer valid coins and if you find the factors of a coin that is claimed to be prime you get a reward. So lets say I claim large number "x" is a new prime number. Miners have an incentive to prove that it is not by trying tons of factors to verify that it is not prime. Lets say if a factor is not found for a new number in "t" amount of time it can be assumed to be safely prime and that number can be spent. As long as miners have not found a factors of the numbers you've stake, your claim of a prime number coin remains valid. Title: Re: Prime coin Post by: hanzac on April 04, 2013, 01:06:17 AM How about a reverse finding the prime numbers? Set the largest ever known primer number as in the genesis block, and the block reward decreases as finding the previous prime because it will be easier. As time goes, the finding process will be faster and faster, it will be very suitable for rapid transactions.
Title: Re: Prime coin Post by: spndr7 on May 01, 2013, 05:30:18 AM Quote So lets say I claim large number "x" is a new prime number. Miners have an incentive to prove that it is not by trying tons of factors to verify that it is not prime. Lets say if a factor is not found for a new number in "t" amount of time it can be assumed to be safely prime and that number can be spent. As long as miners have not found a factors of the numbers you've stake, your claim of a prime number coin remains valid. http://www.rsa.com/rsalabs/node.asp?id=2094#WhatIs Quote Factoring 100-digit numbers is easy with today's hardware and algorithms. No public effort has yet resulted in successful factoring of numbers of more than 200 digits. Advances in both computer hardware and number theory, though, are expected to advance the state of the art. One purpose of this contest was to "track" the state of the art in factoring Largest RSA number factored Quote RSA-768 Ref: http://www.rsa.com/rsalabs/node.asp?id=3723Status: Factored Decimal Digits: 232 12301866845301177551304949583849627207728535695953 34792197322452151726400507263657518745202199786469 38995647494277406384592519255732630345373154826850 79170261221429134616704292143116022212404792747377 94080665351419597459856902143413 The factors are: 334780716989568987860441698482126908177047 949837137685689124313889828837938780022876 14711652531743087737814467999489 and 3674604366679959042824463379962795263227915 8164343087642676032283815739666511279233373 417143396810270092798736308917 The effort took almost 2000 2.2GHz-Opteron-CPU years according to the submitters, just short of 3 years of calendar time. http://www.rsa.com/rsalabs/node.asp?id=2093 Title: Re: Prime coin Post by: BurtW on May 01, 2013, 05:37:29 AM Hey! What happened to MokiMarket? Are you going to put up any more Bitcoins for sale? My six year old daughter used to love playing the "Bitcoin game" She was undefeated. 300+ bids was her record and she is very proud of it.
You just cannot beat a determined six year old at a mindless game like bidding on Bitcoins. Title: Re: Prime coin Post by: spndr7 on August 11, 2013, 01:40:04 AM If such a coin existed there would be a gold rush of mathematicians trying to find larger and larger primes. I dunno if this is even possible...anybody? All worthy ideas are made possible :) |