Sunny Kings Weekly Updates #47 - 07/15/13 •Primecoin made a big splash in the first week of its debut, with enthusiastic mining participation we managed to break multiple world records including 1CC0a, 2CC09, 2CC0b, TWN0a, and still besting our own records many times. Not only that, the race toward improving miner performance has already begun. Primecoin is designed to sustain a long-term prosperous mining industry, so I look forward to the constant improvement of algorithms and hardware advances by market participants. •Many people ask about the scientific value of finding these prime chains. I have already delved into this topic in my design paper. The prime chains are believed to have infinite existence for every length, and a distribution law similar to those of prime number theorem. So it is connected to the deeper mysteries of prime distribution, a lineage from the first breakthrough at Riemanns time. Yet for the most simple case - the twin prime conjecture - no one can yet prove their infinite existence (some breakthrough with this earlier this year), let alone the distribution law. Primecoin network would provide further experimental data and spur the research and development of advanced algorithms in searching these chains that may provide possible clues to this phenomenon, in my opinion one of the top wonders of arithmetic. •Primecoin has been reported by Bitcoin Magazine with 2 excellent technical articles and now supported on 4 exchanges. Our market cap ranking is now right outside top ten looking for a match with DGC and FRC. •At the weekend peak there were about 1000x mining power in primecoin network compared to the first day of the release, due to a combination of improved miner and heavy growth of mining participation. The network has started cooling down a bit as of now. Difficulty broke through 8 yesterday, currently still marching toward 9 (right now 8.85) but somewhat stabilized. •On the ppcoin side, the logo project lead by Sentinelrv has been completed and a nice new logo is selected by the community. Congratulations to the team! Have fun!
Posted on: Tue, 29 Oct 2013 17:36:32 +0000
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