All About BTC, LTC, ETH mining as well as other alternative crypto currencies
Primecoin (XPM) is a fairly new alternative cryptocurrency that introduces a new type of proof-of-work in peer-to-peer cryptocurrency designs based on searching for prime numbers. Up until now most alternative crypto currencies rely either on SHA-256 like Bitcoin or Scrypt like Litecon for their proof-of-work design and Primecoin brings something new and interesting on the table making it a potential contended for the third place in popularity among coins, though it is currently more like the last one in the top 10. Primecoin’s Prime Number Proof-of-Work has been designed less than a year ago by Sunny King who tried to make a new and interesting alternative crypto coin and he did very well. Primecoin is the first cryptocurrency on the market with non-hashcash proof-of-work, generating additional potential scientific value from the mining work. This research is meant to pave the way for other proof-of-work types with diverse scientific computing values to emerge.
What is interesting about Primecoin is that the currently available miners are only CPU-based, so there is room for improvement going to GPU and then to specialized hardware mining hardware. That is if Primecoin is to follow the path that Bitcoin has already paved and that Litecoin is already following. The fact that Primecoin (XPM) uses different proof-of-work method means that you are not able to mine it the same way as Bitcoin or Litecoin and if there are going to be ASIC miners made for Primecoin they are going to take some time. Not to mention the fact that at the moment you can combine Litecoin and Primecoin mining on a single system – the CPU will mine XPM and the GPU will mine LTC, good combination for some extra profit and full utilization of the hardware you might already have.