Primecoin is different from other altcoins. The new currency has unique functions. One is through the process mining waste. This is one of the many factors the gives Primecoin value. It also makes it an attractive option for many. Primecoin mining waste is simply tracking down long sequences of prime numbers. Other than mining waste, there are more advantages that go with the currency.
There are many reasons that contribute to the price of Primecoin. First, it is the first non-Hash Cash. Primecoin is the first to show other uses of the code. This includes computing things other than the usual hash functions.
Second, Primecoin value is given due to its short supply. There are no card limits and this is crucial. It can affect long-term stability and its ability to adapt to certain market conditions. An estimate of just over 55 million XPC will only be produced. Users do not have to worry about sudden increases or decreases in prices, which is common to currencies of the same kind.
Third, Primecoin is sustainable. It does not use a fixed cap money supply unlike Bitcoin. Primecoin mining follows different principles. It has slower funding. This is much less than what Bitcoin offers in terms of risk of low security level. Therefore, expect Primecoin value stability over time.
Fourth, it introduced new participants to the economy. Primecoin provides the ability to apply particular strategies. People who like to mine coins have a better chance to earn and get more benefits. This then improves the Primecoin value as it adds more scientific importance. More benefits mean more users. More users bring better exposure. Better exposure mean better prices.
Fifth, Primecoin has flexible supply. While Bitcoin needs to be developed so that it matches the needs of users, Primecoin is different. The new currency encourages users to mine, which provides more reward subsidy and Primecoin value.
By-Products of Primecoin
The currency has direct by-products. It brings the groups of prime numbers. It is the only currency to offer this. Prime numbers are useful. These are relevant in cryptography and encryption systems. As the list of known primes grows, and the value of numbers increase, the security methods improve. As a result, this gives Primecoin value in the field of mathematics, physics, and others.
Only time will tell how the new form of currency will evolve. Taking into account other advancements in the last few years. Expect more from Primecoin as it tries to grow in value across the globe.