PascalCoin is a next-generation cryptocurrency that pioneers a new tier of scalability comparable to the VISA network. PascalCoin paves the path towards Infinite Scalability and a new form of decentralised application coined Monetized APIs. Version 2 of Pascal Coin addresses shortcomings in Version 1s account distribution model and delivers the key feature of Checkpointing (among other improvements). The addition of Checkpointing into PascalCoin now delivers the promise of true Deletable Blockchains.
The blockchain in Pascal Coin V2 is now permanently deletable from the Network itself without affecting Proof-of-Work validation for new nodes. This means new nodes can join the network without the need to download the infinite history of blocks. Instead, they download the latest Checkpoint and a few dozen latest blocks in order to fully synchronize with the provably most-work-chain. This paves the path towards, what this paper coins, Infinite Scaling.
Introduction PascalCoin is an innovative cryptocurrency that extends the blockchain-paradigm by introducing a new cryptographic structure known as the SafeBox. The SafeBox maintains a ledger balance rather than a ledger.
PascalCoin facilitates value-transfer between users by allowing them to transact funds (PASC) to and from accounts (PASA) much in the same way as traditional banking. Unlike most cryptocurrencies, PascalCoin accounts are simple and easy-to-remember (e.g. 1234-56) and not complicated strings which must be copy-pasted or scanned. Since only the ledger balance is required for consensus and not the full ledger, PascalCoin attains exponentially higher transaction throughput per unit of storage than UTXO-based cryptocurrencies.
The design philosophy of PascalCoin is to take Bitcoin and...
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