Topic: Second generation of Crypto Coins consists of those with valid proof of work (Read 1356 times)

THE ABACUS COIN is a revolutionary framework for alternative currency based on the monetization of rare, unique, and industry-applicable mathematical objects.
THE ABACUS COIN is unique among alternative currencies in that its proof-of-work has inherent value (in contrast to the essentially wasteful SHA-2 proof-of-work that BitCoin and LiteCoin use). Additionally, it has the capability to diversify in its value. It does this by forming “iterations”, or different lines of searches for mathematical objects.
For example, one iteration (which may be termed something other than THE ABACUS COIN) may search for prime numbers, while another would search for Hadamard matrices. These two discreet lines of proof-of-work remain under the parent currency (THE ABACUS COIN), making it increasingly valuable and versatile. This allows for different lines of research compatible (or more effective under) different computing architectures or hardware configurations.
Additionally, the proof-of-work algorithm for any given THE ABACUS COIN iteration is not fixed. One user may search combinatorially for an object, while another could develop their own method of searching. The second user would likely find objects faster and would thus have increased hashing power. This allows for user innovation and ever-increasing network power not dependant on technological advances, such as smaller transistors, or the development of application specific hardware (i.e. ASICs).
THE ABACUS COIN is almost entirely self-sufficient, in that mathematical objects are effective proof-of-work per se. The only central interference with any given instance is the actual creation of the instance. Once the instance is registered, any user on the peer-to-peer mining network may begin applying resources to that instance.
Falsification of work is impossible since mathematical proof of any instance is possible either by computer, or by theorem (which could be attained from a professional in the field or public academic materials).
THE ABACUS COIN will be attractive to both the private sector and academia in that it creates a high-powered computing network to do research that would otherwise be costly to the interested party. This provides additional value to the coin.
Sample Iteration & Algorithm:
A sample of an THE ABACUS COIN iteration would be a prime number search. Users would submit numbers or ranges of numbers that do not contain primes. The default algorithm may be to use a Fermat primality test, which could then be improved by users to run more efficiently (for example on hardware), or augmented with other sieving methods in order to provide more comprehensive proofs and ranges that do or do not contain primes.

Yes you will be able to mine outside on the Public Launch Naturally the more computing input breaks more mathematical Probloms.

The Cloud Hashing is for those that have no idea on how to mine so that it opens up more areas of people to be involved also as Income to the Profit Pool that is shared with the coin holders.


https://www.youtube.com/watch?v=PmmE7Jz6hbQ


https://www.youtube.com/watch?v=F2eg2HqYrLo

You can Dump Anywhere you like isnt that your Point you have nothing useful to say or ask

Where can it be dumped

So far what we been asked is these qeustion's if you have anything to ask simply ask it

It's not really the answer to what people ask.

No its Simply easier to post the answer to what people ask in 1 go

So this is really just another long winded advert for a potential shitcoin?

The primary difference between Abacus and other Altcoin's are :
•    Answers to real world mathematical problems that hold value in themselves.
•   Miners potentially will be able to choose what problem's they would like solve.
•   How will the dividends from a sold problem be distributed, it's very simply your coin that you have mined from solving that problem will be attached to that problem so you receive a share of that dividend "No Guaranteed that any or all problems will be purchased"
•   How much of the dividend is shared " the dividend is divided between Abacus and the miners " with our cut of the dividend we will be re-investing it into our back bone.
•   A proof-of-work that is scientifically significant, and relies on novel technology that has substantially more power than the BOINC-based Gridcoin and others.
•   The Abacus Coin is something that is highly valuable to mathematical research, which means that it has the value of any other coin, that is the proof-of-work, in addition to the inherent value in the POW algorithm.
•   Mining reduction and finality will be achieved once tertiary searches for H(37) are finished. This gives a long lifetime to the coin with integrated difficulty increases inherent to the calculations required.
•   This is a unique proof-of-work (Hadamard matrices) secured by the scrypt algorithm, though NOT BASED ON IT AS P.O.W.
•   Abacus Coin has inherent value due to its scientific significance.
•   Compared to other coins that are based on existing BOINC technology. Abacus Coin is an evolving technology that will have FPGA and GPU support published Sooner than Later allowing for significantly increased computing power.
•   Block SIze, this is based on how quickly computations are performed, at a rate of one block every k/k+100 calculations, where k is the number of previous blocks.
•   Outside Mining, Users will be able to mine outside of the cloud, though this feature is still under development for a user-friendly Abacus Coin miner. The coins will be confirmed by secondary and tertiary passes; these are simpler calculations that can be achieved by users with CPU miners and GPU Miners

Next Generation Coin:
Second generation of Crypto Coins consists of those with valid proof of work, not simply name power and new crypto algorithms. Those were the basis, this is the future and to say that it's not unique is somewhat incorrect since the other coins are two existing technologies and power grids hooked together, whereas ours is a novel, more powerful, centralized power structure, significantly more effective in solving the correct problems that valued to the academics.
The FPGA support alone is far more powerful than large portions of the BOINC network.



Long Term Goals and Services for Abacus Coin :

ABACUS PAYMENT PROCESSING "PayPal for all Crypto Currencies"
•   Provide a soup to nuts transaction processing network
•   Provide the physical layer via dial-up and internet
•   Provide authentication and verification
•   Provide record management & Storage
•   Provide first and second world compliance and regulatory infrastructure compliance
•   Provide folio maintenance record capture and lawful servicing
•   Fraud protection based on protocol compliance set by our framework
Abacus Payment processing  is a venture to have our coins accepted in the market for high streets outlets and online transactions within a joint Venture with a USA Underline processing carrier and www.CryptoCoinsConnect.com  which will be launched later 2014.

Market Cap for Payment processing is in the Trillions so there is a large enough Market for Abacus to Enter securely and with stability.

We Currently have International Calling Cards and Sip Accounts service provider ready to accept the Abacus Coin.
We are working on a Personal and Business Phone Services including Broadband Packages along with Mobile Packages for the UK and USA which will be accepting The Abacus Coin as payment.

With Joints Venture with the new Crypto Social Media Platform www.crytpocoinsconnect.com very soon you will be able to purchase services and goods with The Abacus Coin via there Platform.

One Key Market area which is used day to day is the wholesale telecommunications market many countries have high banking fees or have issues getting money or out we will be focusing on our efforts to this sector which will create a huge demand for The Abacus Coin due payment sizes will be anything from 50$ to 250,000$ the fees generated from this transactions will be re-invested into the platform to gain more advances and dividends shares with coin Holders.


Each coin is backed by real world, income and business.
As the coin continues to grow and gain value, the value produced by the coin will continue to grow due to investment growth.
Dividends are paid back to coin holders by The Abacus Coin via Cryptic coins or fiat currency as per the coin requests.


During the startup phase The Abacus Coin will attempt to create broad interest in the coin and the business model. The goal will be to offer Pre-Buying of Cloud Hashing Before the Official, in order to bring quick capital in, and deliver maximum value to early adopters.

Unlike any other coin on the market, as time goes on, real-world users will be able to exchange our The Abacus Coin  for services and products that are being produced at our real world locations.

We are Working closely to find Exchanges in as many countries as possible to make it more localised for coin holders to buy or sell coins.

Marketing Strategy which is the most important Key to the Success of The Abacus Coin and more Dividends to Coin Holders.
Launching our Services and Providing Cloud Hashing we will be paying out 50% of the Cloud Hashing Fee to our Affiliate network and at the end of every Quarter we will giving dividends to the coin holders on the revenues from the Cloud Hashing. So this is simply a win win situation for Coin Holders.

The Abacus Coin Holders are investing within themselves for a longevity just as if your buying shares in any business.
www.theabacuscoin.com