Sunny Kings Weekly Updates #48 - 07/22/13 •Primecoin continues to surprise and this week we saw difficulty broke through 9! On block #74722 primecoin network finds its first prime chain of length 12, another new world record of course. Meanwhile by its second week primecoin has sweeped all length 10 and 11 Cunningham chain and bi-twin chain world records. •Primecoin also surprised in capital market by reaching 1 million dollar market cap, now supported by 5 exchanges, helping several relatively new exchanges to reach record high trading volumes. On the highest day of the week it reached over 2000 BTC combined volume on the exchanges. •Highest market cap rank of the week is #5, right behind ppcoin. Currently primecoin ranks at #6 and having a close match with NVC. •At least two gpu miner projects are under development, one for opencl by mtrlt (https://bitcointalk.org/index.php?topic=258540.0) and one for cuda by primedigger (https://bitcointalk.org/index.php?topic=258982.0). mikaelh continues to improve on his optimizations of built-in miners. Meanwhile ypool became the first mining pool of primecoin with its own cpu miner. I am very happy to see the level of mining development for primecoin. Primecoin is designed to sustain a vibrant and competitive mining market. •Media continues to show interest and praise in primecoin. For example, it is reported by The Register that DigitalOcean was hitting capacity problems after 18000 new registrations for mining primecoin. So now we understand why the block rate was going crazy last weekend. Some media credit primecoin as solving the energy waste problem. To be fair I think ppcoin should be credited as such. ppcoin is designed to be energy efficient, while primecoin is designed to be energy multi-use. They are a two-prong approach to the energy consumption problem of cryptocurrency. Have fun!
Posted on: Tue, 29 Oct 2013 17:37:07 +0000
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