Riecoin is a digital currency that enables one to transfer money across the world at low transaction fee. The transaction fee is based on the network
Riecoin is a digital currency that enables one to transfer money across the world at low transaction fee. The transaction fee is based on the network load and the amount you are transferring. In addition, it’s capped to a specific amount of coins. Riecoin uses Bernhard Riemann hypothesis to estimate and calculate the computing power of the network. The cryptocurrency is also available in Chinese language. Let me walk you through the basic info of Riecoin;
The P2P protocol
Riecoin is an open source currency that uses p2p protocol. Although it might look similar to Bitcoin, the block header is completely different. Further, there are more than 64 bits of timestamps. Similarly, the protocol version is now hard-coded.
To mine you must use a built-in miner or the external CPU-miner which is the most preferred. First, you have the right software to start the mining process. This will boost the security of the network to process the transactions effectively. Secondly, a series of prime numbers are generated as the by-product. Over the years, prime numbers have been of interest to scientific community and mathematicians. The cryptocurrency is a proof that it’s possible to harness the computing power. Since Riecoin was launched, users are able to compile their wallets irrespective of the operating system they use. It’s expected that a GPU miner will be released to the markets in the near future. Many users have mined using Riecoin v0.9.2 and v3.1.1 versions. Both versions are available with enhanced speed sync. To see the entire enhancements go to http://riecoin.org/. An optimized stratum miner is yet to be released. The miner will allow more fast sync time.
Riecoin `proof of work’
You need to find a prime number then verify it using the Rabin-Miller test. For instance, you can find two or three prime numbers that are in consecutive order which minimizes the distance between the first and the last one. If you have trouble verifying, you can lengthen the prime numbers with constellations of size 6. This means each block will represent 6 prime numbers. However, having constellations of size 6 with small primes does not necessarily mean it will be helpful in finding network’s required size. The proof of work verification must be done through the right tests. Riecoin proof of work algorithm works toward making people gain interest in prime numbers.
Riecoin paper wallet
The Riecoin Foundation has come up with many android applications. The applications are compatible with all android devices. It’s recommended that you use the old settings format unless you have an android wallet available.