PascalCoin – A new Cryptocurrency
PascalCoin is a new type of cryptocurrency where users can store balance on a safebox system instead of storing balance in Blockchain. This kind of cryptocurrency works without an operation history. One of the advantages of using this cryptocurrency is the facility to control the hassle of double spending or for checking balance.
PascalCoin is suitable for humans
Since its account system is very similar to a bank account by design, PascalCoin is aneasy to understandand easy to work withcryptocurrency. Through aneasy to remember account numbers, instead of cryptographic addresses, users can have a straight overview of how PascalCoin is designed.
Pascal Coin is designed to work very similarly to a bank
In a bank, users have different account numbers and on each account bank maintains a transaction ledger, similarly, in PascalCoin it is called payload. PascalCoin works in the same notion of banking:however, the dissimilarity is that whoever has a wallet is a P2P node and the accounts safebox gets automatically synchronized with other nodes, so it’s impossible to hack the database because all nodes have the database incorporated. This cryptocurrency was never calculated to be more anonymous than bitcoin but it was designed in a way that waseasier to use and simple to understand.
The history of PascalCoin
In July 2016, the first beta version of PascalCoin was released in market and it was created by Albert Molina. On August 11, 2016, PascalCoin genesis block was produced. In 2016, after planning more on cryptocurrency, he decided to create a cryptocoin using the Pascal language, without using the original source code of BitCoin.
PascalCoin vs. Bitcoin
Albert Molina designed the PascalCoin concept by adjusting some Bitcoin issues:
Blockchain size: In bitcoin, the Blockchain is compulsoryfor checking double spend. So the Blockchain size gets increased with each block and all nodes must have the Blockchain to work.
Bitcoin was never simple to understand. Users have often reported that it is difficult to understand how it works, and it’s challenging to explain the allied terms like … Crypto keys, address… Wallet to for non-technical people. But PascalCoin operation is easier to understand.
Lost keys: If somebody loses his crypto private key, money is lost forever, causing coins in circulation to be reduced. But this is not the same with PascalCoin.