BLOCKCHAINS BEING REPLACED BY SAFEBOX IN CRYPTOCURRENCY Asylum rwxr-xr-x 0 6:08 PM

Filename	BLOCKCHAINS BEING REPLACED BY SAFEBOX IN CRYPTOCURRENCY
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Author	Asylum
Date and Time	6:08 PM
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Thanks to the presence of tech-enthusiasts, one needs to possess many cryptocurrencies that are rather inaccessible for average users. PascalCoin – a new cryptocurrency – is already out there to change this with the deletable blockchains.

The project has made considerable progress ever since they released their first beta version in July last year. According to The Merkle, there is a lot of trading activity and buzz happening around the new altcoin but as of yet there are no merchants or platforms accepting it as a viable payment portal.

PascalCoin is therefore not going to oust bitcoin any time in the foreseeable future, but it does employ interesting new characteristics to create a cryptocurrency. Instead of relying on transaction history in blockchains, like most other cryptocurrencies, PascalCoin uses ‘safebox with a safebox hash’ to go an extra mile.

The safebox feature makes it unnecessary for the end user to download a blockchain of historical operations for performing a transaction, making PascalCoin the first cryptocurrency to do that. The balance is added in each block of the blockchain so that the chain can be removed without affecting the source code for making transactions.

The safebox is also meant to prevent the issues that have been witnessed with bitcoin. One of those issues being multiple transactions, while attempting to do two transactions with the same funds, which is a known problem with bitcoins.

It’s way too early to say whether PascalCoin’s take on cryptocurrency will have an impact on the future of cryptocurrency. However, new additions to the world of digital currencies are always interesting, especially if they are transparent to the public.

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