Every now and then, cryptocurrency developers come up with a rather intriguing concept. PascalCoin is a great example of one such project, as this cryptocurrency offers a deletable blockchain, effectively solving one of the data storage problems bitcoin has been facing for several years now. It is time we take a closer look at this altcoin, as it shows a lot of promise.
PascalCoin Piques People’s Interest
It is not difficult to see why PascalCoin has been seeing a boost in popularity as of late. Although the project was announced in August of 2016, it looks like its potential is finally coming to fruition After all, PascalCoin is the first cryptocurrency that does not require a blockchain of historical operations to be downloaded by the end user. Despite this “odd” function, there is no way to double-spend one’s coins.
Rather than using the blockchain as found in the bitcoin ecosystem, PascalCoin makes use of a technology called SafeBox. This hash mechanism is modified every time a new block in generated by the PascalCoin blockchain. SafeBox is updated with the new block operations, after which it generates a new Safebox hash. Even if the blockchain up to that point were to be deleted, there is still a proof of all transactions and wallet balances.
Controlling the Safebox hash is of the utmost priority for the PascalCoin team. A total of five new accounts are created per network block, which effectively helps to keep the hash size as small as possible. For those who want to find out more, it is well worth checking out the project’s white paper on GitHub. By removing the need to download and store an entire blockchain, the PascalCoin developers could be onto something.
Other than the SafeBox feature, PascalCoin focuses on being a cryptocurrency that can appeal to the masses. It offers quite a few similarities to how bank accounts work, with easy to remember account names instead of wallet addresses. This is another intriguing development that makes cryptocurrency more approachable by the average person on the street. It remains to be seen whether or not PascalCoin can achieve its goal, though.
Looking at the PascalCoin trading charts, it is evident this cryptocurrency has become the new hot commodity among altcoin traders. That being said, the fact its blockchain can be deleted and its convenient wallet addresses are the only “proper features” for the time being. There are no merchants or platforms accepting PascalCoin as a payment option, indicating this altcoin still has a long way to go before it can rival bitcoin.
One final thing that sets apart PascalCoin fro other altcoins is how it seemingly favors mining with an NVIDIA GPU. Most altcoins use algorithms which make using an AMD graphics card far more convenient. PascalCoin is doing things a bit differently, although a new miner for AMD cards was released not too long ago. An intriguing take on things, although it remains to be seen whether or not PascalCoin will still be relevant a few months from now.
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