The Birth of PEPS COIN
The goal of PEPS COIN is to create the world in which cryptocurrency and human are connected, and digital assets play the role of currency. Also, it will aim to extend its domain of usage. The finance industry, despite its 150-year history, failed to offer financial service to billions of people around the world without bank accounts. For instance, millions of people are living without banks, and the majority of which, the minorities and immigrants, are not capable of enjoying financial services. To develop and expand the financial services, digitalization of finance is required and it should start right now. Japan's network company PEPS TECH(R-Click) will develop PEPS COIN and start PEPS platform service, with the experience of developing digital wallet and virtual currency exchange.
PEPS TECH will connect real currency and virtual currency and make it compatible for payment system, and will form partnership between offline financial network and PEPS COIN to issue PEPS CARD for everyday use for everyone. Also, PEPS TECH will develop mutual network, accessible both online and offline.
PEPS COIN Algorithm
-PEPS COIN algorithm for decentralization
Bitcoin used SHA256 algorithm with the original design of proof-of-work system. At the beginning, SHA256 could sustain Bitcoins, but as it became famous its values increased, the competition for mining intensified. Generally, it is almost impossible for an individual to mine Bitcoin. At the moment, the only way to mine Bitcoins is to purchase hardware from miner companies. The biggest company is SHA256/ ASICs, making up for 70% of the supply. To prevent such concentration of mining supply, PEPS COIN applies new proof-of-work algorithm called Lyla2Re. Lyla2Re algorithm was specially designed to compete against ASIC. Generally, optimal mining is difficult for GPU mining because of electricity overuse and heat emission. Applying Lyra2 (chain algorithm) instead of Scrypt enables adjustments and changes in memory usage, time and cost. GPU mining is a computer and smartphone hardware produced by mainstream enterprises, and can be obtained anywhere. PEPS COIN will offer a whole-new class of entrepreneurs and investors, and even ordinary citizens a chance to participate in mining without the use of costly ASIC miners. PEPS coin mining will be decentralized, and resistance to ASIC systems is one of PEPS's permanent competitiveness.
Lyra2RE: Algorithm consisting of differrnt hashes Function : Keccak, Skein, Groestl, Blake & Lyra2.
Blake-256
Keccak-256
Lyra2 (nRows=8, nCols=8, TimeCost=1)
Skein-256
Groestl-256
