Introduction – Pascal Coin
Pascal Coin is an innovative cryptocurrency that aims to break the blockchain paradigm by introducing a new cryptocurrency structure – this is Safebox. Safebox serves to maintain a ledger balance and in so doing, dispenses with individual ledgers.
The real function of the Pascal token is to conduct transactions between users. Users or PASAs can transfer deposits, also known as PASC, in a similar way to online banking.
In addition, Pascal relies on simple operation, so that users can also specify simple access data. This should be a countermovement to the complicated strings of other currencies. Using the ledger balance also increases the transaction speed. In the philosophy of the currency, the developers rely on Bitcoin and would like to supplement this framework with the simplification of Ethereum.
By contrast, Safebox ensures the ledger balance. In addition, Safebox can be understood as a kind of spreadsheet in which each line represents a current balance, and each column represents an account.
The number of the account is the current column with a matching checksum at the end. The accounts are divided into five steps and inserted into account segments, which are stored as a block in the blockchain.
Pascal Coin and its scalability
According to the developers, Pascal offers infinite scalability. This is the ability of a blockchain-based network to provide unlimited expandability on limited storage space. In particular, block-through architectures with a high throughput per storage unit have fast transaction times and acquire many users.
Scalability in Pascal is achieved by deleting old blocks. Here, a block length of 100 blocks is given as a rough guideline. New blocks are always hung at the end of the blockchain so that important checksums can be found here. Old blocks, on the other hand, are at the beginning of the blockchain and offer no real added value, which is why they can be deleted under Pascal.
However, a deletion in the true sense is not made; rather, the old blocks are outsourced to Safebox so that they can still be addressed if necessary. The result of this approach is that Pascal achieves a higher throughput rate than comparable cryptocurrencies.
According to the developer, Pascal, therefore, stores only the flow of transactions instead of the actual transactions. This ensures that the size of the blockchain will never exceed 6GB.
What special features does Pascal offer?
The developers at Pascal define five distinct features that differentiate the currency from other coins on the market, one of which is the previously discussed scalability. The fast throughput rate with a constant memory requirement is the decisive control variable here. In addition, the Pascal token supports trusted and immediate transactions.
The status orientation of the blockchain ensures faster and safer transaction processing. This is especially true for small transactions, as large transactions must first be confirmed by the nodes of the network. Through a double-donation-detection function, the acceptance of unchecked transactions within the framework of micro-payments should be realized in the future.
Account names and types are also a special feature of the platform. Each account has a unique name that is publicly visible. Thus, it is possible that transactions can also be received via an email address. Companies can even get money on the brand name.
In the background, the names are assigned an account so that the system can process the data. The two-tier architecture of the blockchain allows Pascal to support investments and smart contracts.
The last special feature is based on the self-financed community, which works without an initial coin offering. Rather, a fair distribution of the tokens and the preservation of personal independence for future development was respected. This circumstance should also lead to further groundbreaking developments and improvements in the future.
Which roadmap do the developers follow at Pascal Coin?
To give the community an overview of upcoming updates, the developers of Pascal have published a roadmap. In contrast to other roadmaps, this is less structured and has no binding deadlines, which makes the team more flexible in achieving their goals.
According to the current roadmap, the next improvement or innovation is a new wallet, which supports not only the classic operating systems but also macOS. Subsequently, a translation of the entire user interface into different languages will take place, and a mobile wallet for iOS and Android will be published.
In addition, the throughput rate is to be improved so that users have an improved transaction experience. The third edition of the blockchain will also be tested and optimized as part of a private test network so that new functionalities for the user accounts can then be implemented.
The final official change will be with a focus on the privatization of account balances and payments, giving users the option to make anonymous payments.
How has the market capitalization of Pascal Coin developed?
Pascal Coin, also known as PASC, was first launched on the markets on December 7, 2016. Market capitalization was $9,590 and $0.002443 per token on the first day of trading. Since January 2017, the token has been in an upswing, which became a real rally in November.
At the beginning of November, the token was still at 4.4 million US dollars, while the market capitalization by January 13, 2018 was at 95.3 million US dollars. The price per token at this time was $5.63. In daily trading, a volume of around 160,000 US dollars can be realized. The most important trading place is Poloniex.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.