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Gapcoin is a new prime number based p2p cryptocurrency, which tries to eliminate the sticking points of other scientific currencies like Primecoin or Riecoin.
It's a fork of Satoshi Nakamotos Bitcoin, a decentralized payment system which is independent of banks, governments and other centralized regulators. With Gapcoin, you will be able to anonymously send money around the globe in no time. The big improvement in comparison to Bitcoin is that instead of burning electricity for its own sake, Gapcoins Proof of Work function actually does useful work by searching for large prime gaps. Verifying a prime gap is easy, you only have to check every number between the start and the end to be composite.
Calculating is harder, much harder! Large prime gaps occur a lot lesser than smaller ones. The average length of a prime gap with the starting prime p, is log p , which means that the average prime gap size increases with lager primes. Then, instead of the pure length, we use the merit of the prime gap, which is the ratio of the gap's size to the average gap size.
Also a pseudo random number is calculated from p to provide finer difficulty adjustment. Also, if the difficulty reaches Prime numbers are interesting for lots of mathematicians around the globe, and they're also important to every day cryptography see RSA. Researches about prime gaps could not only lead to new breakthroughs in the bounded gap , it may also help proving the Twin Prime Conjecture and maybe even the millennium problem, the Riemann hypothesis.
Windows 32 and 64 bit binaries. Linux 32 and 64 bit binaries. Gapcoin was not designed to enrich the early adopters or the coin creators! Unlike Primecoin, the more people mine Gapcoin, the more coins per block will be produced. Coin supply will increase logarithmically with the difficulty, this means it will grow in the beginning, but later, it won't change much.
There won't be any premine! To avoid instamine, the reward of the first blocks about 48 hours will increase quadratically to its absolute value: Source code will be available before launch excluding the PoW function , so everyone can setup their own environment, compile the software, and check if everything works. Windows and Linux binaries will be distributed in an encrypted container before launch, the password will be revealed at launch. How is Proof of Work actually designed?
A PoW algorithm has to fit two specifications: It must be cryptographically secure a PoW must not be reusable It must be hard to calculate, but easy to verify Verifying a prime gap is easy, you only have to check every number between the start and the end to be composite. So the difficulty will simply be the length of the prime gap? Could we break any world records? We already broke records of first known occurrence prime gaps.
Last but not least, what does the logo have to do with prime gaps?