Some info about PascalCoin

What is going on with this "PascalCoin"

If you were like me, and got on Poloniex wondering what in the world PascalCoin is.. Here is some information about it!

What are the main differences between Pascal Coin and other cryptocurrencies?

Pascal Coin is designed to work very similarly to a bank.

In a bank, you have ordinal account numbers and on each account you have a transaction ledger (in Pascal Coin it’s called payload)

Address in Bitcoin: 16K3HCZRhFUtM8GdWRcfKeaa6KsuyxZaYk

Account in Pascal Coin: 0-10 or 21926-74 or 132706-50 (Note: Last 2 numbers after “-” are a checksum)

Pascal Coin is basically the same concept, but the difference is that everybody who has a wallet is a P2P node and the accounts safebox is synchronized with other nodes, so it’s impossible to attack the database because all nodes have the database included. Also, blockchain technology and cryptography ensures that your accounts are safe. Easy to use, easy to understand!

Is Pascal Coin anonymous?

It’s as anonymous as other crypto’s like Bitcoin and major altcoins.

Pascal Coin wasn’t designed to be “more anonymous” than Bitcoin, just “easier to use” and “easier to understand”
Other altcoins claim to be anonymous, perhaps they are more difficult to control, but no doubt everything that happens in the real world (for example, exchanging a cryptocoin for fiat money) is not anonymous. If you want to stay anonymous forever, you’re better to trade with fiat and only fiat money, saving it at your home.

When was Pascal Coin created?

In May 2016, the concept was designed and coding began, writing the White Paper while writing the Pascal code.

In July 2016, the first beta version was released. Pascal Coin creator published a White Paper explaining the concept.

On August 11, 2016, Pascal Coin genesis block was generated and Albert published the source code and wallet installer on GitHub and SourceForge, and explained it at Bitcoin freenode forum. A few hours later he started a thread at BitCoinTalk explaining it.

Who created Pascal Coin and why?

Pascal Coin was created by Albert Molina

Albert didn’t know anything about cryptocurrency before 2014. When he discovered Bitcoin in 2014, he wanted to study it’s technology, but all source code was made using “C++” language. Albert was not an expert in “C” language, but he was a “Pascal” developer, so he couldn’t understand it.

In 2016, after some time thinking about cryptocurrency he decided to create a cryptocoin using the Pascal language, without using Bitcoin’s original source code, and designed the Pascal Coin concept fixing some Bitcoin issues:

-Blockchain size: In bitcoin, the blockchain is mandatory to check double spend. So the blockchain size is increasing with each block and all nodes must have the blockchain to work

-Bitcoin was not easy to understand. A lot of people don’t understand how it works, and it’s difficult to explain for non technical people… Crypto keys, address… Wallet is difficult to understand…

-Lost keys: In bitcoin (and all other alt-coins too) if somebody loses their crypto private key, money is lost forever, causing coins in circulation to be reduced.

What is the concept proposed by Pascal Coin?

To avoid issues detected with bitcoin, Pascal Coin proposes:

A safebox with a safebox hash:

-Safebox has accounts inside, each account has a key and a balance. (Only the account key’s owner will be able to make operations with this account.)

-Every new block of the blockchain adds 5 accounts to the blockchain, the first one includes the mining reward, the other 4 are empty accounts.

-On each block of the blockchain, a new safebox hash is generated. This allows us to be sure the safebox hash has not been corrupted or manipulated.

Thanks to safebox and accounts included in it, size of safebox is controled, increasing a few bytes each block.

Thanks to the safebox, the balance is included in each block, so the blockchain can be deleted and still work. No need to check past operations to control double spend, just look at the accounts balance. (Like a bank)

The image and information can also be found on http://www.pascalcoin.org/