Primecoin is digital currency which uses prime numbers as its proof of work. Its goal is to provide a proof of concept that a digital currency can produce something useful besides its subjective market value. Prime numbers are a valuable mathematical resource. Prime numbers are numbers that are only divisible by one or themselves, and no other numbers. This is useful in encrypting internet traffic (e.g. SSL or TLS), because while it's easy to multiply two prime numbers together, to create a "public key", it's difficult to run the calculation in reverse. I.e. It's a difficult computation to take an exceptionally large number and find its "prime factors". Symbol: XPM (Source: Coindesk) |