Pascal Coin is designed to work very similarly to a bank.
In a bank, you have ordinal account numbers and on each account you have a transaction ledger (in Pascal Coin it’s called payload)
Address in Bitcoin: 16K3HCZRhFUtM8GdWRcfKeaa6KsuyxZaYk
Account in Pascal Coin: 0-10 or 21926-74 or 132706-50 (Note: Last 2 numbers after “-” are a checksum)
Pascal Coin is basically the same concept, but the difference is that everybody who has a wallet is a P2P node and the accounts safebox is synchronized with other nodes, so it’s impossible to attack the database because all nodes have the database included. Also, blockchain technology and cryptography ensures that your accounts are safe. Easy to use, easy to understand!
It’s as anonymous as other crypto’s like Bitcoin and major altcoins.
Pascal Coin wasn’t designed to be “more anonymous” than Bitcoin, just “easier to use” and “easier to understand”
Other altcoins claim to be anonymous, perhaps they are more difficult to control, but no doubt everything that happens in the real world (for example, exchanging a cryptocoin for fiat money) is not anonymous. If you want to stay anonymous forever, you’re better to trade with fiat and only fiat money, saving it at your home.
In May 2016, the concept was designed and coding began, writing the White Paper while writing the Pascal code.
In July 2016, the first beta version was released. Pascal Coin creator published a White Paper explaining the concept.
On August 11, 2016, Pascal Coin genesis block was generated and Albert published the source code and wallet installer on GitHub and SourceForge, and explained it at Bitcoin freenode forum. A few hours later he started a thread at BitCoinTalk explaining it.
Pascal Coin was created by Albert Molina
Albert didn’t know anything about cryptocurrency before 2014. When he discovered Bitcoin in 2014, he wanted to study it’s technology, but all source code was made using “C++” language. Albert was not an expert in “C” language, but he was a “Pascal” developer, so he couldn’t understand it.
In 2016, after some time thinking about cryptocurrency he decided to create a cryptocoin using the Pascal language, without using Bitcoin’s original source code, and designed the Pascal Coin concept fixing some Bitcoin issues:
-Blockchain size: In bitcoin, the blockchain is mandatory to check double spend. So the blockchain size is increasing with each block and all nodes must have the blockchain to work
-Bitcoin was not easy to understand. A lot of people don’t understand how it works, and it’s difficult to explain for non technical people… Crypto keys, address… Wallet is difficult to understand…
-Lost keys: In bitcoin (and all other alt-coins too) if somebody loses their crypto private key, money is lost forever, causing coins in circulation to be reduced.
To avoid issues detected with bitcoin, Pascal Coin proposes:
A safebox with a safebox hash:
-Safebox has accounts inside, each account has a key and a balance. (Only the account key’s owner will be able to make operations with this account.)
-Every new block of the blockchain adds 5 accounts to the blockchain, the first one includes the mining reward, the other 4 are empty accounts.
-On each block of the blockchain, a new safebox hash is generated. This allows us to be sure the safebox hash has not been corrupted or manipulated.
Thanks to safebox and accounts included in it, size of safebox is controled, increasing a few bytes each block.
Thanks to the safebox, the balance is included in each block, so the blockchain can be deleted and still work. No need to check past operations to control double spend, just look at the accounts balance. (Like a bank)
No, sending PascalCoin is visible in the block explorer. If you delete the blockchain -as PascalCoin is the first cryptocurrency to allow that- you won’t be able to see history of transactions. However, anyone with the full blockchain will still be able to see any transaction.
That having been said, PascalCoin allows account transfer by changing an account’s key. Whether that account contains coins or not, only the account key change will be visible in the block explorer. So, in the end, you could indeed obfuscate a transaction in this manner.
One account can do 3 kinds of operations:
-Send transaction to a destination account.
-Change key of an account. Key can be either from your wallet or to a new owner’s.
-Recover coins (lost keys).
When an account has not made any operations for previous 420480 blocks, it is considered that this owner has lost their account key.
To prevent lost coins from being kept out of circulation, this method allows a miner to recover an inactive accounts balance like a mining fee.
This will only happen if in the previous 4 years (estimation) an account with positive balance (>0) has not made any operations.
Account key will remain equal, only balance is recovered (so, account will be lost forever until it’s owner recovers it’s private key).
When you send a transaction, there are 2 steps:
-Send the order to other nodes. This step is quick, in few seconds all the networks nodes will receive transaction and show it on “pending operations”. There is NO guarantee that this operation will be included in the wallet.
-Generate a new block with transactions. When a miner’s node receives a transaction, it works to include it in a new blockchain. On average this process takes about 5 minutes. Due to blockchain technology, it’s safer to wait 10, 20 (or more) confirmations prior to considering that this transaction can’t be undone.
In other cryptocoins you can generate an “address” to receive coins. In Pascal Coin that’s not possible, addresses are like accounts and accounts are generated by the blockchain.
So, the main difference, is that if you don’t have a Pascal Coin account (mined by yourself or received from another account’s owner) you cannot have receive Pascal coins.
An account can only be operated by a private key. Account’s owners can change the account’s key to a new one.
-You can generate a Private/Public key with your wallet application.
-You send the PUBLIC KEY (Note: private key must always be kept private and only for you!) to the owner of an account.
-The account’s owner changes the key of an account to your new public key.
-After this, the owner of the account will be you, and the old owner will not have access to operate with this account because he doesn’t know the private key.
1-Open your wallet
2-Select your account
3-Go to Operations
-Change private key: This allows you to change your actual private key to another private key.
-Transfer to new owner: This allows to transfer an account to someones public key.
-Put in the person public key. (Received public key of new owner)
-Public key can be hexadecimal or an encoded string.