Primecoin alternative and competitor Gapcoin (GAP) is a new prime number based peer-to-peer cryptocurrency. Gapcoin has already in it’s first 4 month of existence broken 544 records of first known occurrences in prime gaps. If the Gapcoin mining difficulty reaches 35.4245, every block will be a new prime gap world record. Prime gap records found by Gapcoin can be seen at http://gapcoin.org/primegaps-length.php. Gapcoin strives to deliver a decentralized payment system similar to Bitcoin that is independent of banks and governments; while terminating the flaws in other science oriented alt coins. Gapcoin promotes anonymity and allows user to send money worldwide in no-time with minimal transaction fees while contributing to mathematical research.
Gapcoin has had a steady growth since launch in October 2014 and was released without a premine. It can be argued that one of the main advantages over Bitcoin is that Gapcoins PoW system does not use energy while solving algorithms solely for the sake of controlling the difficulty, but also searching for large prime gaps; giving Gapcoin real-life scientific and mathematical value. A proof-of-work algorithms needs to be difficult to calculate, consistent and easy to verify. Gapcoin meets these requirements; while finding prime gaps that has the potential to help researchers solve the millennium problem, lead to breakthroughs in the bounded gap and verify the Twin Prime Conjecture and the Riemann hypothesis. Small prime gaps are more common than larger ones thus Gapcoins difficulty is set by the merit of the prime gap which is the ratio of the gap’s size to the average gap size. Gapcoins PoW algorithm is the largest, decentralized prime gap search in the cyrptocurrency space. If the Gapcoin mining difficulty reaches 35.4245, every block will be a new prime gap world record. Prime gap records found by Gapcoin can be seen at http://gapcoin.org/primegaps-length.php.
The main difference between Primecoin and Gapcoin is that Primecoins PoW algorithm searches for prime number chains called bi-twin chains and Cunningham chains while Gapcoins PoW network is based on the merit of the prime gap.
Except the fact that Gapcoin was launched without any premine it was designed to avoid instamine and give a fair distribution meaning that, contrary to many other cryptocurrencies, the more people that adopt and mine Gapcoin the more coins per block will be produced. This system is in place so early adopters and the coin creators will not have an unfair advantage. Gapcoin wallets are compatible with Linux and Windows; GAP is already availible on cryptocurrency exchanges LazyCoins and Coin-Swap as well as the popular exchange Poloniex.
Having already broken 544 Prime Gap records, Gapcoin is a valuable asset in an exciting series of technically advanced, science oriented cryptocurrencies that has the potential to solve famous mathematical problems while offering a fast and secure payment system; a truly valuable part of the cryptocurrency ecosystem.
PoW: custom, prime gaps
Block target time 2.5 minutes
Block reward proportional to the current difficulty
Block reward halving every 420000 proximately every 2 years.
Cap: about 10 – 30 million GAP
Difficulty adjusts every block and increases logarithmically
For more information please visit: gapcoin.org
Name: GAPcoin Media