The Abacus Coin: Thinking Beyond Cryptocurrency

[theabacuscoin]

Abacus Coins, unlike other Crypto Currencies, have their basis in real world mathematical challenges.
 
As opposed to solving crypto-graphical problems, with the sole result being a Coin or block of Coins; the Abacus Coin mining process produces not only Coins as rewards, but also answers to real world mathematical problems that hold value in themselves.
Why waste endless computing power on solving algorithms when there’s so much more to discover.
 
Instead of mining to solve cryptography that has no further use, Abacus Coins are mining to solve questions we don't yet have the answers to. Mining Abacus Coins actually helps us become more intelligent as a whole. It could even lead to brand new discoveries across many fields of science, but probably most notably Physics due to its heavy reliance on mathematical equations. The entire universe is in balance, and somewhere out there is an equation that we can use to quantify the very fabric of the cosmos. There is literally no ceiling to what we could achieve together! Every time a problem is solved, a more complex one is introduced. We will never run out of problems to solve there is an infinite amount. As long as we keep mining Abacus Coin we will always make new discoveries!
What is the difference? Well it would help to understand the value of these answers, if you knew who had an interest in them and how they are used.
 
Are you aware that the American D.O.D pays $1,000,000 for the discovery of new large prime numbers? Just one of the mathematical problems that Abacus Coin mining will produce answers to are new 'Large Primes' so valuable as they are used in encryption and cryptography for security purposes. The Abacus Coin mining process will also calculate 'Ternary Complementary Pairs' which are used in complex systems such as LADAR, RADAR, Airship and Missile guidance systems, as well as host of other applications. Companies and governments pay anywhere from thousands to millions dependent on the complexity of the problem solved and the importance of its practical application. It will also produce Hadamar Matrises, which are immensely complex mathematical objects.

www.theabacuscoin.com
More Information to be announced at www.cryptocoinsconnect.com

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[johhu12]

This looks promising.

Got few questions in mind:

+ How many coins total, block size, block time?
+ How are new discovery's rewards divided?
+ Launch date?
+ A little intro to the dev team?
+ Will there be solo mining besides cloud mining provided by You?
+ How are the mathematical problems picked that are going to be mined?
+ Premine?

Thank You, anyways hope the best for You!

[asdlolciterquit]

uhm...this can ben great.

It reminds me Gridcoin, which use BOINC points or BOINC's usage of cpu to give coins.

[theabacuscoin]

First off, block size and time, as well as a fixed number of coins total are all artifacts of cryptographically-based alternative currencies. A new mathematical object isn't released at a given interval, it simply exists. Coins are found as quickly as they're discovered (or equally as importantly not discovered, knowing a math object doesn't exist in a certain field is sometimes more interesting than finding that it does).

New discovery rewards are currently distributed as they always have been with mathematical research: with credit to the person who found the object, and with the benefits available to anyone who can use them. It will be extremely rare for an object to be found that has a definable monetary value and can be given to the highest bidder. For example, look at PrimeCoin: XPM has discovered some of the largest Cunningham chains in the world but that research is simply credited to the discoverer.

More updates will be Following here http://cryptocoinsconnect.com/index.php/network-home/groups/viewgroup/4-the-abacus-coins

[theabacuscoin]

Cloud Hashing - A simple solution.
 
Traditionally mining of Crypto Coins has been carried out by miners a specialist bunch of highly technical geeks who know what they are doing. Trying to emulate this within our membership would be very troublesome and fraught with problems so members are offered Cloud Hashing as a simple solution.
 
Cloud Hashing is done using our own servers and expensive hardware that we service and maintain. Members choose which package they want and we do all the work. Coins are deposited into your wallet at the hashing rate you choose and once in your wallet they are yours.
 
Choose which package you want and everything is done for you. Within minutes you are set up to mine 24/7 in the Cloud with experts constantly monitoring and maintaining everything on your behalf. Members can upgrade whenever they choose.
 
The lowest Hashing rate is $5:00 per calendar month so now anyone can get started;
 
Easiest way to mine coins.
Buy exactly the amount of hashing power you want, when you want it.
No technical knowledge required.
No hardware to maintain.
No software to configure.
Harness the power of the latest mining technology without breaking the bank.
No obligation to continue mining once the term expires.
Together we drive the development of a global currency.
Together we share the costs.
 
As with all Crypto Coins the yield per month will be far higher at the start, however as the difficulty of the Mathematical exploration increases so will the time between mining a block of Coins and the amount of Coins released. Although the rewards per month slowly decrease, the value of each Coin climbs, thus more than offsetting the difference. Using this relatively slow way of releasing a Coin Abacus Miners have more control over the overall success of the currency rather than left to uncontrollable outside forces.

[theabacuscoin]

Please Advise on the best exchanges to work with

[asdlolciterquit]

Cloud Hashing - A simple solution.
 
Traditionally mining of Crypto Coins has been carried out by miners a specialist bunch of highly technical geeks who know what they are doing. Trying to emulate this within our membership would be very troublesome and fraught with problems so members are offered Cloud Hashing as a simple solution.
 
Cloud Hashing is done using our own servers and expensive hardware that we service and maintain. Members choose which package they want and we do all the work. Coins are deposited into your wallet at the hashing rate you choose and once in your wallet they are yours.
 
Choose which package you want and everything is done for you. Within minutes you are set up to mine 24/7 in the Cloud with experts constantly monitoring and maintaining everything on your behalf. Members can upgrade whenever they choose.
 
The lowest Hashing rate is $5:00 per calendar month so now anyone can get started;
 
Easiest way to mine coins.
Buy exactly the amount of hashing power you want, when you want it.
No technical knowledge required.
No hardware to maintain.
No software to configure.
Harness the power of the latest mining technology without breaking the bank.
No obligation to continue mining once the term expires.
Together we drive the development of a global currency.
Together we share the costs.
 
As with all Crypto Coins the yield per month will be far higher at the start, however as the difficulty of the Mathematical exploration increases so will the time between mining a block of Coins and the amount of Coins released. Although the rewards per month slowly decrease, the value of each Coin climbs, thus more than offsetting the difference. Using this relatively slow way of releasing a Coin Abacus Miners have more control over the overall success of the currency rather than left to uncontrollable outside forces.

how much is the hashrate for 5$?

[asdlolciterquit]

Please Advise on the best exchanges to work with

maybe cryptsy?

[theabacuscoin]

Taster Package
$5 per month - 100 Mh/s
Starter Package
$10 per month - 200 Mh/s
Bronze Package
$20 per month - 400 Mh/s
Silver Package
$50 per month - 1 Gh/s
Gold Package
$100 per month - 2.5 Gh/s
Platinum Package
$200 per month - 6 Gh/s
Ultimate Package
$500 per month - 20 Gh/s

[johhu12]

Please Advise on the best exchanges to work with

Thanks for the answers and that would definitely be Mintpal - fast deposits, withdrawals, great support - can't beat them.

[asdlolciterquit]

Taster Package
$5 per month - 100 Mh/s
Starter Package
$10 per month - 200 Mh/s
Bronze Package
$20 per month - 400 Mh/s
Silver Package
$50 per month - 1 Gh/s
Gold Package
$100 per month - 2.5 Gh/s
Platinum Package
$200 per month - 6 Gh/s
Ultimate Package
$500 per month - 20 Gh/s

is this coin sha256?

[theabacuscoin]

http://cryptocoinsconnect.com/index.php/network-home/groups/viewgroup/4-the-abacus-coins

Taster Package
$5 per month - 100 Mh/s
Starter Package
$10 per month - 200 Mh/s
Bronze Package
$20 per month - 400 Mh/s
Silver Package
$50 per month - 1 Gh/s
Gold Package
$100 per month - 2.5 Gh/s
Platinum Package
$200 per month - 6 Gh/s
Ultimate Package
$500 per month - 20 Gh/s

is this coin sha256?

[asdlolciterquit]

uhm...why don't you want to use this forum?

in this cryptocoinsconnect.com i have to register but i see "Free For  1 year"...and then? :v

[theabacuscoin]

The primary difference between Abacus and other Altcoin's are :
•    Answers to real world mathematical problems that hold value in themselves.
•   Miners potentially will be able to choose what problem's they would like solve.
•   How will the dividends from a sold problem be distributed, it's very simply your coin that you have mined from solving that problem will be attached to that problem so you receive a share of that dividend "No Guaranteed that any or all problems will be purchased"
•   How much of the dividend is shared " the dividend is divided between Abacus and the miners " with our cut of the dividend we will be re-investing it into our back bone.
•   A proof-of-work that is scientifically significant, and relies on novel technology that has substantially more power than the BOINC-based Gridcoin and others.
•   The Abacus Coin is something that is highly valuable to mathematical research, which means that it has the value of any other coin, that is the proof-of-work, in addition to the inherent value in the POW algorithm.
•   Mining reduction and finality will be achieved once tertiary searches for H(37) are finished. This gives a long lifetime to the coin with integrated difficulty increases inherent to the calculations required.
•   This is a unique proof-of-work (Hadamard matrices) secured by the scrypt algorithm, though NOT BASED ON IT AS P.O.W.
•   Abacus Coin has inherent value due to its scientific significance.
•   Compared to other coins that are based on existing BOINC technology. Abacus Coin is an evolving technology that will have FPGA and GPU support published Sooner than Later allowing for significantly increased computing power.
•   Block SIze, this is based on how quickly computations are performed, at a rate of one block every k/k+100 calculations, where k is the number of previous blocks.
•   Outside Mining, Users will be able to mine outside of the cloud, though this feature is still under development for a user-friendly Abacus Coin miner. The coins will be confirmed by secondary and tertiary passes; these are simpler calculations that can be achieved by users with CPU miners and GPU Miners

Next Generation Coin:
Second generation of Crypto Coins consists of those with valid proof of work, not simply name power and new crypto algorithms. Those were the basis, this is the future and to say that it's not unique is somewhat incorrect since the other coins are two existing technologies and power grids hooked together, whereas ours is a novel, more powerful, centralized power structure, significantly more effective in solving the correct problems that valued to the academics.
The FPGA support alone is far more powerful than large portions of the BOINC network.



Long Term Goals and Services for Abacus Coin :

ABACUS PAYMENT PROCESSING "PayPal for all Crypto Currencies"
•   Provide a soup to nuts transaction processing network
•   Provide the physical layer via dial-up and internet
•   Provide authentication and verification
•   Provide record management & Storage
•   Provide first and second world compliance and regulatory infrastructure compliance
•   Provide folio maintenance record capture and lawful servicing
•   Fraud protection based on protocol compliance set by our framework
Abacus Payment processing  is a venture to have our coins accepted in the market for high streets outlets and online transactions within a joint Venture with a USA Underline processing carrier and www.CryptoCoinsConnect.com  which will be launched later 2014.

Market Cap for Payment processing is in the Trillions so there is a large enough Market for Abacus to Enter securely and with stability.

We Currently have International Calling Cards and Sip Accounts service provider ready to accept the Abacus Coin.
We are working on a Personal and Business Phone Services including Broadband Packages along with Mobile Packages for the UK and USA which will be accepting The Abacus Coin as payment.

With Joints Venture with the new Crypto Social Media Platform www.crytpocoinsconnect.com very soon you will be able to purchase services and goods with The Abacus Coin via there Platform.

One Key Market area which is used day to day is the wholesale telecommunications market many countries have high banking fees or have issues getting money or out we will be focusing on our efforts to this sector which will create a huge demand for The Abacus Coin due payment sizes will be anything from 50$ to 250,000$ the fees generated from this transactions will be re-invested into the platform to gain more advances and dividends shares with coin Holders.


Each coin is backed by real world, income and business.
As the coin continues to grow and gain value, the value produced by the coin will continue to grow due to investment growth.
Dividends are paid back to coin holders by The Abacus Coin via Cryptic coins or fiat currency as per the coin requests.


During the startup phase The Abacus Coin will attempt to create broad interest in the coin and the business model. The goal will be to offer Pre-Buying of Cloud Hashing Before the Official, in order to bring quick capital in, and deliver maximum value to early adopters.

Unlike any other coin on the market, as time goes on, real-world users will be able to exchange our The Abacus Coin  for services and products that are being produced at our real world locations.

We are Working closely to find Exchanges in as many countries as possible to make it more localised for coin holders to buy or sell coins.

Marketing Strategy which is the most important Key to the Success of The Abacus Coin and more Dividends to Coin Holders.
Launching our Services and Providing Cloud Hashing we will be paying out 50% of the Cloud Hashing Fee to our Affiliate network and at the end of every Quarter we will giving dividends to the coin holders on the revenues from the Cloud Hashing. So this is simply a win win situation for Coin Holders.

The Abacus Coin Holders are investing within themselves for a longevity just as if your buying shares in any business.

[asdlolciterquit]

I'm very excited about this coin. It's seem really good.

I have some questions:

1)i don't really understand what "the dividend" you are talking about really is. I try to make an example. Some university or sci-labs contact you and offer x money to solve their problem: after that (and only after that or in the meanwhile either?), we, the miners, and you, abacus, will be payed in abacus coin?
If not, how "real world mathematical problem" will be choose?

2)any date of launch? even for an open-beta?

3)i see that cloud mining start with 100mh/s. If i want to mine out of the cloud, how can i mine with, i don't know, a normal gpu (500-700kh/s)??

Thanks a lot!

[theabacuscoin]

What is The Abacus Coin Shares?
we have 2 Benefit pools for the Coin Holders:
       Pool 1: the Abacus Coin mining process produces not only Coins as rewards, but also answers to real world mathematical problems that hold value in themselves. We can cannot ever say each mathematical problem will be purchased or when.  But we will share 50/50 with the coin holder, how we can do this is very simple your coin will be linked to the Mathematical Problem which was solved so you will be the paid out accordingly "Remember if you sell your coin the person that holds that coin will receive the Profit Share of that Coin linked to that Mathematical Problem"
       Pool 2 : The Abacus Coin Product and Service Profit Share Pool,  We share the profits 50/50 with the coin holders, So that means the more coins you have in your wallet means you get more coin share of the Profit Pool.
How are the profits made?
1.   Cloud hashing Packages sold
2.   International calling cards sold
3.   Any other New service we Launch
profits are calculated after all costing have been paid out then we share it 50/50 the 50% we keep is re-invested into new services. Each month can be Different amounts so nothing can be sure.
Example:
223,789 coins in the market  and for the month 124,764£ profit to shared with the coin holders
124,764/223,789= 0.55£ Per coin
This means if account Holder A has 233 coins in his wallet he will receive 233*0.55£=128.15£ that month out of the profit pool, If Account Holder B has 10,743 coins in his wallet he will receive 10,743*0.55=5908.65£ that month out of the profit Pool. This can be paid in Fiat or any other crypto coins.
So if you think about this the coin has a greater value already so if you sell your coin on a exchange just remember the person that buys your coin will be the new owner and will get the Profit share for that coin so always sell your coin for higher as there is profit share income you will lose

This looks promising.

Got few questions in mind:

+ How many coins total, block size, block time?
+ How are new discovery's rewards divided?
+ Launch date?
+ A little intro to the dev team?
+ Will there be solo mining besides cloud mining provided by You?
+ How are the mathematical problems picked that are going to be mined?
+ Premine?

Thank You, anyways hope the best for You!

[asdlolciterquit]

What is The Abacus Coin Shares?
we have 2 Benefit pools for the Coin Holders:
       Pool 1: the Abacus Coin mining process produces not only Coins as rewards, but also answers to real world mathematical problems that hold value in themselves. We can cannot ever say each mathematical problem will be purchased or when.  But we will share 50/50 with the coin holder, how we can do this is very simple your coin will be linked to the Mathematical Problem which was solved so you will be the paid out accordingly "Remember if you sell your coin the person that holds that coin will receive the Profit Share of that Coin linked to that Mathematical Problem"
       Pool 2 : The Abacus Coin Product and Service Profit Share Pool,  We share the profits 50/50 with the coin holders, So that means the more coins you have in your wallet means you get more coin share of the Profit Pool.
How are the profits made?
1.   Cloud hashing Packages sold
2.   International calling cards sold
3.   Any other New service we Launch
profits are calculated after all costing have been paid out then we share it 50/50 the 50% we keep is re-invested into new services. Each month can be Different amounts so nothing can be sure.
Example:
223,789 coins in the market  and for the month 124,764£ profit to shared with the coin holders
124,764/223,789= 0.55£ Per coin
This means if account Holder A has 233 coins in his wallet he will receive 233*0.55£=128.15£ that month out of the profit pool, If Account Holder B has 10,743 coins in his wallet he will receive 10,743*0.55=5908.65£ that month out of the profit Pool. This can be paid in Fiat or any other crypto coins.
So if you think about this the coin has a greater value already so if you sell your coin on a exchange just remember the person that buys your coin will be the new owner and will get the Profit share for that coin so always sell your coin for higher as there is profit share income you will lose

This looks promising.

Got few questions in mind:

+ How many coins total, block size, block time?
+ How are new discovery's rewards divided?
+ Launch date?
+ A little intro to the dev team?
+ Will there be solo mining besides cloud mining provided by You?
+ How are the mathematical problems picked that are going to be mined?
+ Premine?

Thank You, anyways hope the best for You!

i'll try to make an other example.

1)I start to mine abacus coin.
2)i start to gain abacus coin. If some of the real math problem solved will be purchased, i gain other coins.

3)if i keep this coin i've earned in my wallet, every month a gain other coins, like you described in your example?? Am i right?

Thank you!

[theabacuscoin]

Abacus Pre-Launch is for Prepaid Cloud Hashing Members
 
All Prepaid Packages Paid by the 18th March 2014 will be able to start there Pre-Mining from the 20th March 2014
 
Choose which package you want and everything is done for you. Within minutes you are set up to mine 24/7 in the Cloud with experts constantly monitoring and maintaining everything on your behalf. Members can upgrade whenever they choose.
 
The lowest Hashing rate is £5.00 per calendar month so now anyone can get started UP TO £500,00 Per Month;
 
The 1st Commissions to be paid out will be on the 20th March 2014
 
Contact us or Your UPLine to find out how to Pre-Pay & get your Position TODAY
 
Methods of Payment Accepted
Paypal
MoneyBookers
Netteller
Perfect Money
Western Union
MoneyGram
Bank Wire
Bitcoin
​
Official Public Launch Saturday 19th April 2014
 
Opening of the Crypto Coin Cafe Near Brighton, UK
Launch of Miner Software
Launch of TXTCryptoCoins Payment Platform
Launch of International Calling Cards
 
1st Pool share Payout for the Pre-buy Cloud Hashing during the Pre-Launch will be paid out on the 20th April 2014 for all Coin Holders Confirmed on the 18th April 2014

Dont Forget to Follow US on the Below Groups

https://twitter.com/theabacuscoin
https://www.facebook.com/theabacuscoin
http://www.linkedin.com/groups/Abacus-Coin-2nd-Generation-Crypto-7472351?trk=my_groups-b-grp-v

[asdlolciterquit]

we have a lot of question...can you answer that?

one important: can we mine outside the cloud?

[theabacuscoin]

Yes you will be able to mine outside on the Public Launch Naturally the more computing input breaks more mathematical Probloms.

The Cloud Hashing is for those that have no idea on how to mine so that it opens up more areas of people to be involved also as Income to the Profit Pool that is shared with the coin holders.


https://www.youtube.com/watch?v=PmmE7Jz6hbQ


https://www.youtube.com/watch?v=F2eg2HqYrLo

we have a lot of question...can you answer that?

one important: can we mine outside the cloud?

[cryptowho]

i want to say so IpO? but.. i should read it more thoroughly

[markm]

No whitepaper?

No anything actually by the look of it, might as well sell pretend ASICs too the whole site seems much like the fake ASIC seller sites, all bullshit and no real content...

-MarkM-

[theabacuscoin]

Your Perfectly Correct what you Say

But when releasing something NEW you never Drop all the information out 1st time its being released in stages

No whitepaper?

No anything actually by the look of it, might as well sell pretend ASICs too the whole site seems much like the fake ASIC seller sites, all bullshit and no real content...

-MarkM-

[theabacuscoin]

The Abacus Coins White Paper - Symbol: ABA

The Abacus Coins have three primary goals.

Foremost, they are to be a new method of advancing and trading mathematical knowledge so that the credit for their work goes to the mathematicians and programmers.

The Abacus Coins will rise in value based on both mathematical breakthroughs and the discovery of rare mathematical objects. This is in keeping with the original, cryptographically-based alternative currencies, in that these discoveries are provable, unique, and impossible to counterfeit.

The first difference lies in the fact that while most crypto-currencies are based on arbitrary, rare objects, The Abacus Coins commodities are based in real-world-applicable objects such as primes, Hadamard matrices, ternary complimentary pairs, and other useful objects.

Secondly, market value is bid on by people who can use these objects. TCPs can be used in signal jamming and filtering, so Raytheon may ascribe value to these. Primes are valuable because of their cryptographic uses among other things, and therefore might be ascribed value by a security firm.

Finally, new objects may not have an end-market use but may show potential and thus would have its value rise.

This system gives a positive feedback loop to mathematical research and development, as well as crediting those who pioneer maths or simply find rare objects.

Each concept and object type would constitute a commodity, and The Abacus Coins are the currency in which they are traded in. This fits well into the larger market of alternative currencies and provides the world with a new sort of invaluable commodity.

The Abacus Coins are fully scalable and can be regulated as needed to make sure that the economy is stable.

Not only is this an impenetrably strong market, it also benefits researchers worldwide in their pursuit of mathematical understanding and research.

The Abacus Coins has started its pilot phase with leading Ph.D.s who are all ecstatic about the programme and are now really looking forward to seeing what new objects can now be discovered.

The Abacus Coins are the most unique, and perhaps most important, research initiative the world has ever seen.

[asdlolciterquit]

The Abacus Coins White Paper - Symbol: ABA

The Abacus Coins have three primary goals.

Foremost, they are to be a new method of advancing and trading mathematical knowledge so that the credit for their work goes to the mathematicians and programmers.

The Abacus Coins will rise in value based on both mathematical breakthroughs and the discovery of rare mathematical objects. This is in keeping with the original, cryptographically-based alternative currencies, in that these discoveries are provable, unique, and impossible to counterfeit.

The first difference lies in the fact that while most crypto-currencies are based on arbitrary, rare objects, The Abacus Coins commodities are based in real-world-applicable objects such as primes, Hadamard matrices, ternary complimentary pairs, and other useful objects.

Secondly, market value is bid on by people who can use these objects. TCPs can be used in signal jamming and filtering, so Raytheon may ascribe value to these. Primes are valuable because of their cryptographic uses among other things, and therefore might be ascribed value by a security firm.

Finally, new objects may not have an end-market use but may show potential and thus would have its value rise.

This system gives a positive feedback loop to mathematical research and development, as well as crediting those who pioneer maths or simply find rare objects.

Each concept and object type would constitute a commodity, and The Abacus Coins are the currency in which they are traded in. This fits well into the larger market of alternative currencies and provides the world with a new sort of invaluable commodity.

The Abacus Coins are fully scalable and can be regulated as needed to make sure that the economy is stable.

Not only is this an impenetrably strong market, it also benefits researchers worldwide in their pursuit of mathematical understanding and research.

The Abacus Coins has started its pilot phase with leading Ph.D.s who are all ecstatic about the programme and are now really looking forward to seeing what new objects can now be discovered.

The Abacus Coins are the most unique, and perhaps most important, research initiative the world has ever seen.

i'm looking for 18 april.

[theabacuscoin]

THE ABACUS COIN is a revolutionary framework for alternative currency based on the monetization of rare, unique, and industry-applicable mathematical objects.
THE ABACUS COIN is unique among alternative currencies in that its proof-of-work has inherent value (in contrast to the essentially wasteful SHA-2 proof-of-work that BitCoin and LiteCoin use). Additionally, it has the capability to diversify in its value. It does this by forming “iterations”, or different lines of searches for mathematical objects.
For example, one iteration (which may be termed something other than THE ABACUS COIN) may search for prime numbers, while another would search for Hadamard matrices. These two discreet lines of proof-of-work remain under the parent currency (THE ABACUS COIN), making it increasingly valuable and versatile. This allows for different lines of research compatible (or more effective under) different computing architectures or hardware configurations.
Additionally, the proof-of-work algorithm for any given THE ABACUS COIN iteration is not fixed. One user may search combinatorially for an object, while another could develop their own method of searching. The second user would likely find objects faster and would thus have increased hashing power. This allows for user innovation and ever-increasing network power not dependant on technological advances, such as smaller transistors, or the development of application specific hardware (i.e. ASICs).
THE ABACUS COIN is almost entirely self-sufficient, in that mathematical objects are effective proof-of-work per se. The only central interference with any given instance is the actual creation of the instance. Once the instance is registered, any user on the peer-to-peer mining network may begin applying resources to that instance.
Falsification of work is impossible since mathematical proof of any instance is possible either by computer, or by theorem (which could be attained from a professional in the field or public academic materials).
THE ABACUS COIN will be attractive to both the private sector and academia in that it creates a high-powered computing network to do research that would otherwise be costly to the interested party. This provides additional value to the coin.
Sample Iteration & Algorithm:
A sample of an THE ABACUS COIN iteration would be a prime number search. Users would submit numbers or ranges of numbers that do not contain primes. The default algorithm may be to use a Fermat primality test, which could then be improved by users to run more efficiently (for example on hardware), or augmented with other sieving methods in order to provide more comprehensive proofs and ranges that do or do not contain primes.

[ubi4doges]

Methods of Payment Accepted
Paypal
MoneyBookers
Netteller
Perfect Money
Western Union
MoneyGram
Bank Wire

Funny how on the website you don't accept cryptocurrency... Smells a bit fishy to me

[theabacuscoin]

Actually we do Bitcoin Only

as we was going to use this for crypto coins  www.coinpayments.net but after setting up we got an email saying they are closing down end of the Month.

[master-P]

Couldn't your cloud hashing concept potentially lead to a centralization of mining?

[ubi4doges]

Actually we do Bitcoin Only

as we was going to use this for crypto coins  www.coinpayments.net but after setting up we got an email saying they are closing down end of the Month.

Thanks for the reply.

BTW coinpayments.net won't close down, check out their announcement on their homepage

[theabacuscoin]

The Cloud Hashing is For Business Services for those that do not understand how to mine etc.

99.9999% of the population still dont know what cryptic coins are

outside mining will be there also

Couldn't your cloud hashing concept potentially lead to a centralization of mining?

[theabacuscoin]

That is great news then

Actually we do Bitcoin Only

as we was going to use this for crypto coins  www.coinpayments.net but after setting up we got an email saying they are closing down end of the Month.

Thanks for the reply.

BTW coinpayments.net won't close down, check out their announcement on their homepage

[asdlolciterquit]

news?

[theabacuscoin]

https://bitcointalk.org/index.php?topic=559139.0

[golem]

So in a nut shell.
User is hashing, someone wants problem solved and this then gets inserted into the next 'block(s)' to be solved instead of normal hash?

Would I be right in saying this is taking the idea of
1) MQL5 -cloud hashing of submitted (paid) for tasks / problems to solve
2) [Can't remember programs name] that would give you x cents per hours/days connected and at same time use your pc to 'test' web pages.

The difference being - coin vs $

Is that about right ?

[MarketNeutral]

EFF pays for new Mersenne Primes, but it's not a million USD. Link to your DoD claim?

Also, do you know how finding large primes actually works? Are you aware of just how enormous such numbers are? It's very fascinating, but very challenging—there's a reason the G.I.M.P.S. is a distributed computing endeavor that is not implemented in a cryptographic manner.

SunnyKing and quite a few other people on this forum have attempted to find a way to cryptographically secure a blockchain by searching for large primes or solving useful math problems. (See RieCoin and PrimeCoin for examples.) I recommend SunnyKing's white paper on PrimeCoin, as it briefly and succinctly touches on the topic of prime number searching. As yet, none has succeeded in terms of searching for new large primes in a way that is useful for a legitimate cryptocurrency. Although I think it may be possible somehow, I'm highly skeptical that you are aware of a way to do it. If you are, please explain how precisely, as this would be extraordinary, and I would do much to support your efforts!

Moreover, does AbacusCoin use a blockchain, and if so, how is it secured in a trustless way?

For research, I highly recommend Prime Numbers: A Computational Perspective by Richard Crandall and Carl Pomerance as a valuable resource for any groundbreaking work involving prime numbers.