Primecoin is a new innovative cryptocurrency, a form of digital currency protected by cryptography and issued through a decentralized mining market. Derived from Bitcoin, Primecoin introduces an unique form of proof-of-work based on prime numbers, and is the first cryptocurrency in the world designed with scientific computing as its work.
The innovative prime proof-of-work in Primecoin not only provides safety and minting to the network, but also generates a special form of prime number chains of interest to mathematical research. Thus primecoin network is energy-multiuse, compared to Bitcoin network. Primecoin is designed to sustain a prosperous mining market and high level of security, while maintaining good scarcity property like gold. Primecoin also processes payment transactions 10x faster than BTC network.