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Topic: The Abacus Coin: Thinking Beyond Cryptocurrency (Read 3432 times)

sr. member
Activity: 406
Merit: 252
EFF pays for new Mersenne Primes, but it's not a million USD. Link to your DoD claim?

Also, do you know how finding large primes actually works? Are you aware of just how enormous such numbers are? It's very fascinating, but very challenging—there's a reason the G.I.M.P.S. is a distributed computing endeavor that is not implemented in a cryptographic manner.

SunnyKing and quite a few other people on this forum have attempted to find a way to cryptographically secure a blockchain by searching for large primes or solving useful math problems. (See RieCoin and PrimeCoin for examples.) I recommend SunnyKing's white paper on PrimeCoin, as it briefly and succinctly touches on the topic of prime number searching. As yet, none has succeeded in terms of searching for new large primes in a way that is useful for a legitimate cryptocurrency. Although I think it may be possible somehow, I'm highly skeptical that you are aware of a way to do it. If you are, please explain how precisely, as this would be extraordinary, and I would do much to support your efforts!

Moreover, does AbacusCoin use a blockchain, and if so, how is it secured in a trustless way?

For research, I highly recommend Prime Numbers: A Computational Perspective by Richard Crandall and Carl Pomerance as a valuable resource for any groundbreaking work involving prime numbers.
newbie
Activity: 36
Merit: 0
So in a nut shell.
User is hashing, someone wants problem solved and this then gets inserted into the next 'block(s)' to be solved instead of normal hash?

Would I be right in saying this is taking the idea of
1) MQL5 -cloud hashing of submitted (paid) for tasks / problems to solve
2) [Can't remember programs name] that would give you x cents per hours/days connected and at same time use your pc to 'test' web pages.

The difference being - coin vs $

Is that about right ?
hero member
Activity: 1666
Merit: 565
news?
jr. member
Activity: 33
Merit: 10
That is great news then

Actually we do Bitcoin Only

as we was going to use this for crypto coins  www.coinpayments.net but after setting up we got an email saying they are closing down end of the Month.

Thanks for the reply.

BTW coinpayments.net won't close down, check out their announcement on their homepage
jr. member
Activity: 33
Merit: 10

The Cloud Hashing is For Business Services for those that do not understand how to mine etc.

99.9999% of the population still dont know what cryptic coins are

outside mining will be there also

Couldn't your cloud hashing concept potentially lead to a centralization of mining?
member
Activity: 81
Merit: 10
Actually we do Bitcoin Only

as we was going to use this for crypto coins  www.coinpayments.net but after setting up we got an email saying they are closing down end of the Month.

Thanks for the reply.

BTW coinpayments.net won't close down, check out their announcement on their homepage
hero member
Activity: 868
Merit: 1001
https://keybase.io/masterp FREE Escrow Service
Couldn't your cloud hashing concept potentially lead to a centralization of mining?
jr. member
Activity: 33
Merit: 10
Actually we do Bitcoin Only

as we was going to use this for crypto coins  www.coinpayments.net but after setting up we got an email saying they are closing down end of the Month.
member
Activity: 81
Merit: 10
Methods of Payment Accepted
Paypal
MoneyBookers
Netteller
Perfect Money
Western Union
MoneyGram
Bank Wire

Funny how on the website you don't accept cryptocurrency... Smells a bit fishy to me
jr. member
Activity: 33
Merit: 10
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.
hero member
Activity: 1666
Merit: 565
The Abacus Coins White Paper - Symbol: ABA

The Abacus Coins have three primary goals.

Foremost, they are to be a new method of advancing and trading mathematical knowledge so that the credit for their work goes to the mathematicians and programmers.

The Abacus Coins will rise in value based on both mathematical breakthroughs and the discovery of rare mathematical objects. This is in keeping with the original, cryptographically-based alternative currencies, in that these discoveries are provable, unique, and impossible to counterfeit.

The first difference lies in the fact that while most crypto-currencies are based on arbitrary, rare objects, The Abacus Coins commodities are based in real-world-applicable objects such as primes, Hadamard matrices, ternary complimentary pairs, and other useful objects.

Secondly, market value is bid on by people who can use these objects. TCPs can be used in signal jamming and filtering, so Raytheon may ascribe value to these. Primes are valuable because of their cryptographic uses among other things, and therefore might be ascribed value by a security firm.

Finally, new objects may not have an end-market use but may show potential and thus would have its value rise.

This system gives a positive feedback loop to mathematical research and development, as well as crediting those who pioneer maths or simply find rare objects.

Each concept and object type would constitute a commodity, and The Abacus Coins are the currency in which they are traded in. This fits well into the larger market of alternative currencies and provides the world with a new sort of invaluable commodity.

The Abacus Coins are fully scalable and can be regulated as needed to make sure that the economy is stable.

Not only is this an impenetrably strong market, it also benefits researchers worldwide in their pursuit of mathematical understanding and research.

The Abacus Coins has started its pilot phase with leading Ph.D.s who are all ecstatic about the programme and are now really looking forward to seeing what new objects can now be discovered.

The Abacus Coins are the most unique, and perhaps most important, research initiative the world has ever seen.


i'm looking for 18 april.
jr. member
Activity: 33
Merit: 10
The Abacus Coins White Paper - Symbol: ABA

The Abacus Coins have three primary goals.

Foremost, they are to be a new method of advancing and trading mathematical knowledge so that the credit for their work goes to the mathematicians and programmers.

The Abacus Coins will rise in value based on both mathematical breakthroughs and the discovery of rare mathematical objects. This is in keeping with the original, cryptographically-based alternative currencies, in that these discoveries are provable, unique, and impossible to counterfeit.

The first difference lies in the fact that while most crypto-currencies are based on arbitrary, rare objects, The Abacus Coins commodities are based in real-world-applicable objects such as primes, Hadamard matrices, ternary complimentary pairs, and other useful objects.

Secondly, market value is bid on by people who can use these objects. TCPs can be used in signal jamming and filtering, so Raytheon may ascribe value to these. Primes are valuable because of their cryptographic uses among other things, and therefore might be ascribed value by a security firm.

Finally, new objects may not have an end-market use but may show potential and thus would have its value rise.

This system gives a positive feedback loop to mathematical research and development, as well as crediting those who pioneer maths or simply find rare objects.

Each concept and object type would constitute a commodity, and The Abacus Coins are the currency in which they are traded in. This fits well into the larger market of alternative currencies and provides the world with a new sort of invaluable commodity.

The Abacus Coins are fully scalable and can be regulated as needed to make sure that the economy is stable.

Not only is this an impenetrably strong market, it also benefits researchers worldwide in their pursuit of mathematical understanding and research.

The Abacus Coins has started its pilot phase with leading Ph.D.s who are all ecstatic about the programme and are now really looking forward to seeing what new objects can now be discovered.

The Abacus Coins are the most unique, and perhaps most important, research initiative the world has ever seen.
jr. member
Activity: 33
Merit: 10
Your Perfectly Correct what you Say

But when releasing something NEW you never Drop all the information out 1st time its being released in stages

No whitepaper?

No anything actually by the look of it, might as well sell pretend ASICs too the whole site seems much like the fake ASIC seller sites, all bullshit and no real content...

-MarkM-

legendary
Activity: 2940
Merit: 1090
No whitepaper?

No anything actually by the look of it, might as well sell pretend ASICs too the whole site seems much like the fake ASIC seller sites, all bullshit and no real content...

-MarkM-
full member
Activity: 182
Merit: 100
Ask me about Karmacoin
i want to say so IpO? but.. i should read it more thoroughly
jr. member
Activity: 33
Merit: 10
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

we have a lot of question...can you answer that?

one important: can we mine outside the cloud?


hero member
Activity: 1666
Merit: 565
we have a lot of question...can you answer that?

one important: can we mine outside the cloud?

jr. member
Activity: 33
Merit: 10
Abacus Pre-Launch is for Prepaid Cloud Hashing Members
 
All Prepaid Packages Paid by the 18th March 2014 will be able to start there Pre-Mining from the 20th March 2014
 
Choose which package you want and everything is done for you. Within minutes you are set up to mine 24/7 in the Cloud with experts constantly monitoring and maintaining everything on your behalf. Members can upgrade whenever they choose.
 
The lowest Hashing rate is £5.00 per calendar month so now anyone can get started UP TO £500,00 Per Month;
 
The 1st Commissions to be paid out will be on the 20th March 2014
 
Contact us or Your UPLine to find out how to Pre-Pay & get your Position TODAY
 
Methods of Payment Accepted
Paypal
MoneyBookers
Netteller
Perfect Money
Western Union
MoneyGram
Bank Wire
Bitcoin

Official Public Launch Saturday 19th April 2014
 
Opening of the Crypto Coin Cafe Near Brighton, UK
Launch of Miner Software
Launch of TXTCryptoCoins Payment Platform
Launch of International Calling Cards
 
1st Pool share Payout for the Pre-buy Cloud Hashing during the Pre-Launch will be paid out on the 20th April 2014 for all Coin Holders Confirmed on the 18th April 2014

Dont Forget to Follow US on the Below Groups

https://twitter.com/theabacuscoin
https://www.facebook.com/theabacuscoin
http://www.linkedin.com/groups/Abacus-Coin-2nd-Generation-Crypto-7472351?trk=my_groups-b-grp-v
hero member
Activity: 1666
Merit: 565
What is The Abacus Coin Shares?
we have 2 Benefit pools for the Coin Holders:
       Pool 1: the Abacus Coin mining process produces not only Coins as rewards, but also answers to real world mathematical problems that hold value in themselves. We can cannot ever say each mathematical problem will be purchased or when.  But we will share 50/50 with the coin holder, how we can do this is very simple your coin will be linked to the Mathematical Problem which was solved so you will be the paid out accordingly "Remember if you sell your coin the person that holds that coin will receive the Profit Share of that Coin linked to that Mathematical Problem"
       Pool 2 : The Abacus Coin Product and Service Profit Share Pool,  We share the profits 50/50 with the coin holders, So that means the more coins you have in your wallet means you get more coin share of the Profit Pool.
How are the profits made?
1.   Cloud hashing Packages sold
2.   International calling cards sold
3.   Any other New service we Launch
profits are calculated after all costing have been paid out then we share it 50/50 the 50% we keep is re-invested into new services. Each month can be Different amounts so nothing can be sure.
Example:
223,789 coins in the market  and for the month 124,764£ profit to shared with the coin holders
124,764/223,789= 0.55£ Per coin
This means if account Holder A has 233 coins in his wallet he will receive 233*0.55£=128.15£ that month out of the profit pool, If Account Holder B has 10,743 coins in his wallet he will receive 10,743*0.55=5908.65£ that month out of the profit Pool. This can be paid in Fiat or any other crypto coins.
So if you think about this the coin has a greater value already so if you sell your coin on a exchange just remember the person that buys your coin will be the new owner and will get the Profit share for that coin so always sell your coin for higher as there is profit share income you will lose


This looks promising.

Got few questions in mind:

+ How many coins total, block size, block time?
+ How are new discovery's rewards divided?
+ Launch date?
+ A little intro to the dev team?
+ Will there be solo mining besides cloud mining provided by You?
+ How are the mathematical problems picked that are going to be mined?
+ Premine?

Thank You, anyways hope the best for You!

i'll try to make an other example.

1)I start to mine abacus coin.
2)i start to gain abacus coin. If some of the real math problem solved will be purchased, i gain other coins.

3)if i keep this coin i've earned in my wallet, every month a gain other coins, like you described in your example?? Am i right?

Thank you!
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