PascalCoin is an innovative cryptocurrency that extends the blockchain-paradigm

Based on a groundbreaking and unique new idea in crypto, PascalCoin pioneers a new tier of scalability suitable for planetary-scale adoption. It is the first and only cryptocurrency to have broken the 100 transactions per second barrier!

By offering simple account numbers that can be associated to emails, company names and domain names, payments have never been easier.

PascalCoin’s powerful architecture lays the strong foundation for large-scale smart contracts in the form of Layer-2 protocols.

PascalCoin achieves all this by introducing a new cryptographic data-structure known as the SafeBox. The SafeBox compliments the Blockchain in a way that allows the Blockchain to be deleted whilst retaining its full cryptographic security.

Wallets

PascalCoin is securely stored in a wallet on your computer, tablet, phone or laptop.
Download yours and start sending and receiving payments with an address and a click.

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Why PascalCoin?

Infinite Scaling

Infinite Scaling is the ability for a cryptocurrency to run for an infinite period of time using the same amount of storage (at a constant throughput). All other cryptocurrencies will eventually fail over a long period of time since their history of transactions become so large that new nodes cannot synchronise and existing nodes run out of storage, among many other failures. PascalCoin is the first cryptocurrency to solve this major shortcoming.

Learn How PascalCoin achieves Infinite Scaling

Storing the Flow rather than the History of transactions

PascalCoin only keeps the last 100 blocks of the blockchain whilst retaining the cryptographic security of the full blockchain. It achieves this by using the SafeBox to keep track of user account balances and ownership whilst simultaneously retaining the aggregated proof-of-work difficulty within the SafeBox itself. In order to forge a SafeBox, it would require re-mining the entire history of blocks even though those blocks are no longer known (even by the network).

As a result, PascalCoin does not store the infinite history of transactions, only a short recent history of them. In this sense, PascalCoin stores the flow rather than the history of transactions, whilst retaining the full cryptographic SPV security of the history.

Reliable & Instant Unconfirmed Transactions

Since PascalCoin is state-based currency the security guarantees of 0-confirmation transactions are much stronger than in Bitcoin and other UTXO-based currencies.

Whilst large payments should always wait for a reasonable number of confirmations, merchants will be able to accept 0-confirmation PascalCoin payments for small purchases thanks to the (planned) Double-Spend-Detection-Service. This service queries nodes throughout the planet to see if a double-spend has been detected. If after 5 – 10 seconds, no such double-spend has been detected, merchants are almost assured that the 0-confirmation payment will clear. Good enough for Coffee.

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No Need For Lightning Network

As a direct consequence of reliable 0-confirmation transactions, there is no need for a Lightning Network in PascalCoin since 0-confirmation transactions are faster and their security guarantees almost as good – sufficient for micro-payments and everyday-commerce.

Account Names and Types

One of the key new features of PascalCoin is that accounts can have unique names which are publically visible, much in the same way as the domain names system. This allows a user to receive funds to their email address or chat moniker.

It allows a shop to receive payments to their domain name or brand name. Payments still refer to accounts via numbers, but the name is used to lookup the account number just as a domain name is used to lookup an IP address.

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More importantly, account names and types serve a fundamental purpose in Layer-2 applications and Monetized APIs. For example, the account name could serve as a chat room name or a forum name. Account types further serve as a means to distinguish accounts for their use-case. For example, browsing accounts with type = 2 could be like browsing a list of chat rooms. How users interact with such Layer-2 applications is via Monetized API’s described below.

Commoditization of Address Space

In almost all other cryptocurrencies, new users can simply create a new address for themselves at will. This creates an infinite address-space which can quickly bloat the blockchain even though the number of users remains constant.

If the address space was instead made finite, it becomes a limited resource able to be commoditized. This is how PascalCoin accounts (PASA) operate.

The accounts are limited, but any public key can be associated to it. This creates a natural space-saving mechanism since the chain is not littered with unneeded or used keys. It also disincentivizes spammers, since spammer accounts would be naturally limited and thus easily identifiable/blockable. Also, and most importantly, commoditization of the address space facilitates the SafeBox structure itself which is the key component to achieve “Infinite Scaling”.

Assets, Sub-Tokens and Smart Contracts

By leveraging PascalCoin’s Layer-2 architecture, it is possible to achieve Assets, Sub-Tokens and Smart Contracts in the same way Rootstock achieves Ethereum over Bitcoin.

Running Ethereum Virtual Machine over PascalCoin would be possible by maintaining a side-chain pinned to an account (as Rootstock does). Transactions to this account would embed Layer-2 protocol commands that govern the EVM side-chain.

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Interestingly, Sharding could be achieved easily since independent EVM side-chains could run bound to separate accounts. Inter-shard communication would simply be transactions between these accounts. The rest of the network would not really be impacted by the large volume of transactions since the natural process of Checkpointing discards these transactions after 100 blocks. Only side-chain users would bother to record all account transactions in order to validate their side-chain.

Monetized API’s

Due to reliable 0-confirmation transactions, PascalCoin allows a new form of decentralised application coined here as ”Monetized APIs”. In a Monetized API, PascalCoin accounts serve as “ports” that listen/send “monetized-messages” to other “ports”.

It achieves this by repurposing an account as a named message-queue and by utilising Operation Payloads. In PascalCoin, operations can carry any arbitrary 256 byte payload of user-data. Payloads can be public or encrypted.

This unique capability allows operations to embed ”Layer 2 protocols“ in much the same way that HTTP lives inside TCP. The difference here is that the protocol messages carry a financial weight, and as a result, can be used to conduct granular economic communication suitable for algorithmic/autonomous/micro-commerce scenarios. For example:

● Pascal Chat: An account can serve as a chat room where the the account name is the room name. Operations payloads to the account can contains the user’s chat message. The users handle would simply be the sender’s account name. These chat rooms can be used for trading goods and services in a decentralised manner. Anonymity can be enhanced via other Layer-2 applications. Users can settle payments for goods by attaching funds to private messages between themselves.

● Monetized Content: A PascalCoin browser-plugin that pays content providers for content on-the-fly. The payment itself contains info to allow the server to unlock the content for the browser. This could be used for monetizing news, blogs, ebooks and social media content.

● One-click e-commerce: a one-transaction e-commerce site who’s shopping cart is reduced to a single “Payload Code”. The buyer merely sends a PASC payment containing the Payload Code, and when received by the merchant the order is executed for the buyer.. No credit card numbers or complex payment-gateway integrations were required.

● Anonymity Mixers: accounts can receive funds from other accounts and then then re-send those funds using complex financial routing information encrypted within the sender’s Payloads. The mixer can split/delay/relay/loop payments arbitrarily thus sufficiently obfuscating the sender, receiver and quantity from taint analysis.

● Layer-2 Side-Chains: since messages to/from an arbitrary account X can be used as a message queue, it is possible to construct Layer 2 Protocols for managing a side-chain by monitoring messages to X. The side-chain’s validity/state is governed by the Layer-2 protocol embedded within these Layer-1 payloads. The owner of X serve as an authority on a mono-federated side-chain suitable for Dapps. Owner-free (or non-federated) side-chains can be constructed by associating a proof-of-burn key on an account. Federated side-chains will be possible when Schnorr multisig is implemented whereby members of the federation will be comprised of the Account signatories. An example of an actual Monetized API, and the first one ever created, is GetPasa.com. It works by listening on account 77-44 for incoming transactions of 10 PASC or more. When a transaction is sent to 77-44 containing 10 PASC or more, it’s payload is examined for the presence of a public key. If nothing is found, transaction is discarded. If a public key is found, the service then finds a free account in it’s inventory and send it to the key it found. This allows new users to purchase an account in a one-step process that sends a single message containing the order and payment combined.

Self-Funded Community without need for ICO

PascalCoin was a 100% fair launch without any pre-mine, ICO or investment rounds. The PascalCoin developer community are independently wealthy, self-funded evangelists who believe in, develop and promote this game-changing technology. As a result, the currency has a healthy distribution without disproportionate early investor hands, as is the case with many ICO coins. We are a genuine project written on an original codebase introducing new innovative technology, not a get-rich-quick-scheme.

PascalCoin was written in Free Pascal, a modern, system-level, object-oriented programming language with advanced features. It was originally designed as an alternative to C, and with it’s modern advances and upgrades, has become a great language for writing high-performance, cross-platform native code.

Roadmap

  • Initial launch
  • Miner support (GPU, pool mining)
  • In-protocol account exchanging
  • Deletable Blockchain
  • Account Names & Types
  • Basic Checkpointing
  • PascalCoin Improvement Proposal process implementation (PIP)
  • New Wallet (with OS X support)
  • Translations
  • Mobile Wallets (iOS & Android)
  • Checkpoint Torrenting
  • Ultra-high throughput fine-tuning & optimisation
  • V3-alpha testnet (100 txn/sec on home pc nodes)
  • Multisig accounts (N-N Schnorr aggregate signatures)
  • Private Balances & Payments (ZK-SNARKs)

Frequently Asked Questions

How does the SafeBox technology work?

  • The SafeBox is composed of many account segments
  • Each account segment contains a set of N accounts (N is 5 for now)
  • Each account contains a user’s public key, current balance, etc
  • Blocks are mined using Proof-of-Work, with 5 minutes confirmation time
  • Every new block appends an account segment to the SafeBox
    • These accounts are awarded to the miner
    • 1 of these accounts contains the mining reward with PASC
    • Copy of the block header is kept in the account segment (V2)
  • Blocks contain signed transactions (operations) which update balances/keys of existing accounts
  • New blocks reference the hash of the SafeBox, not last the block.
  • Only 100 blocks are kept for difficulty calculation, rest can be deleted freely.
  • Nodes process and update their SafeBox’s independently, ensuring P2P decentralisation
    • Nodes only accept the SafeBox with “most-work”. The work for each block is determined from the proof-of-work payloads inside the block headers maintained in account segments.
  • Nodes distribute SafeBox’s to themselves in a torrent-like manner

 

How SafeBox works

What is the issuance and inflation of PASC?

How long does it take for blocks to be mined?

PascalCoin uses 5 minute block-time. However, 0-confirmation transactions are more reliable than in other cryptocurrencies. Additionally, once the double-spend-detection-serivice is rolled out, merchants will be able to accept 0-confirmation transactions with high degree of confidence, suitable for small purchases like Coffee.

For transactions of significant value, we commend a reasonable number of confirmations before considering payment as cleared.

Is PascalCoin PoW or PoS?

PascalCoin is Proof-of-Work (PoW).

The SafeBox model does not work with Proof-of-Stake (PoS) since stake-proofs cannot be aggregated to secure the SafeBox.

Is PascalCoin anonymous?

PascalCoin is currently as anonymous as Bitcoin. Whilst accounts and balances are publicly visible, the knowledge of who controls those accounts is not.

PascalCoin does provide an extra level of anonymity through PASA Exchange. Instead of Bob paying Alice 100 PASC, Bob transfers an account containing 100 PASC to Alice. So long as Alice uses a new key and communicates that key to Bob through secure channels, there is no way to link Bob and Alice.

In the Roadmap, there are plans to add Private Balances and Private Payments into PascalCoin using the ZK-SNARKs approach pioneered by ZCash. This will provide comprehensive anonymity. Receiver will not know who sender is, and 3rd parties will not know sender, receiver or amount being sent. Public balances and public transactions will be retained as it is useful for many use-cases.

Who created PascalCoin and when?

PascalCoin was invented and designed by Albert Molina in May 2016.  By July 2016, the the first beta version was released. On August 11, 2016, the PascalCoin 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.

After the initial V1 release, new developers joined the project forming what is known as the PascalCoin Developers. The PascalCoin Developers fundamentally improved the SafeBox design by providing the “missing piece of the puzzle” – the ability of making the SafeBox independently verifiable without the need for blocks, even for new nodes. This innovation was initially proposed by Herman Schoenfeld, and after discussion with Albert, was implemented in PascalCoin V2 by Albert.

How is PascalCoin Developed?

PascalCoin Improvement Proposals (PIPs) are the standard way for changes to be introduced into PascalCoin. PIPs are intended to be the primary mechanisms for proposing new features into PascalCoin and documenting design decisions. Anyone can submit a PIP and all PIPs are evaluated through the PIP Workflow.  Click here to see the current list of PIPs.

Development is organised via the Trello board using Agile development methodology. PascalCoin currently has several full-time developers including Albert Molina and Herman Schoenfeld. Sphere 10, a company directed by Herman, also allocates developers to this project from time to time. Currently there are 5 full-time developers actively working on PascalCoin. PascalCoin also has a growing community of infrastructure developers including Jason Knapp, developer of PascWallet.com PASA exchange. Various other developers have contributed to the PascalCoin project (web, documentation, code, etc).

How do I get an account?

You can easily get your first account using GetPasa.com.

You can also purchase an account on the PASA exchange PascWallet.com.

You can also purchase accounts directly within the wallet using PascalCoin’s in-protocol account sale, purchase and settlement features.

Why do I need an account?

In order to achieve Infinite Scaling, the address space in PascalCoin is finite. If it were infinite, then users could create accounts in unbounded manner and exhaust the SafeBox (which needs to be an in-memory structure).

Since PascalCoin limits the address space, accounts are are limited resource and commoditised. Accounts are very cheap and can be purchased for under 1 PASC. Not all accounts are worth the same, since some people prefer special numbers than others. As a result, PASA are non-fungible crypto-assets.

How many accounts are there?

Currently, PascalCoin generates 5 accounts  per block.

However, this is likely to change in the next protocol update.

How can you scale to millions of users with limited account model?

Currently, accounts are in abundance and can be purchased for under 1 PASC and we will ensure this situation is always the case.

Also, there are plans to change the PASA issuance model in the foreseeable future to support billions of users. The PascalCoin developers are evaluating various proposals including:

  • Increase issuance from 5 per block to N per block (N = 10, 20, 100?)
  • Issue accounts per block in accordance with Moore’s law
  • Dynamic account creation using new Create Account & Destroy Account operations
  • One-time issuance of millions of accounts for faucet-based distribution
  • Combination of above

Whatever the solution is, the goal is to keep the SafeBox an in-memory data-structure whilst ensuring accounts are readily available for new users at a very low cost.

What is an Operation?

Operations in PascalCoin are the equivalent to “transactions” in traditional cryptocurrencies. The difference is that PascalCoin has many different types of operations, not just for transferring funds. For example, there are operations to change an accounts key or to change an accounts name. As a result, an operation in PascalCoin should be considered as an abstracted and generalised form of a  cryptocurrency “transaction”.

A “Transaction” in PascalCoin is a type of Operation that transfers funds between accounts.

What are Operations are available?

PascalCoin currently supports the following operations:

  • Transaction: moves funds from one account to another
  • Change Account Key: changes owner of an account
  • List Account For Sale: lists account for public or private sale
  • Delist account: delists an account from sale
  • Buy Account: purchase & settlement for an account listed for sale
  • Change Info: changes an account name and type
  • Recover Account: reap zombie account to a new owner (account must not have made an operation for at least 4 years)

Is there an Explorer?

How long must I wait before I can receive/send funds?

When operations are sent, they are visible to all nodes after a few seconds. However, they live in the “Pending Operations” pool until a miner mints them in a block. After 5 minutes (average), a block will be minted and will likely contain all the Pending Operations. As with other blockchain-based cryptocurrencies, it is best to wait a reasonable number of block confirmations before considering the payment as cleared. The more block confirmations that operation receives, the less likely it is ever to be rolled back.

For large transfers, waiting for 2-4 confirmations is acceptable. For small micro-transactions, many accept 0-confirmation transaction since they are still quite safe. In future, there will be a Double-Spend-Detection-Service to further verify 0-confirmation transactions for reliability. Good enough for Coffee.

How do I buy PascalCoin?

PascalCoin can be purchased from cryptocurrency exchanges using Bitcoin and/or other major coins.

See next question for list of exchanges.

Where do I buy PascalCoin?

The following exchanges list PascalCoin (PASC) for trading:

  • Poloniex – largest volume exchange (high volume)
  • Alcurex – low volume, some arbitrage opportunities
  • BTC9 – low volume, some arbitrage opportunities
  • Bitsquare – decentralised, anonymous but low volume

The following exchanges list PascalCoin accounts (PASA) for trading:

How can I integrate PascalCoin into my exchange/service?

PascalCoin supports the full 3rd party integration capability including offline coldwallet operation signing.

Simply install the daemon and use the JSON-RPC API. See Developers tab.

How can I mine PascalCoin?

There are many options to mine PacalCoin from solo-mining to pool-mining. Visit our Slack channel #mining and discuss with community to get started.

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Where is the source code?

Source code is maintained in GitHub.

https://github.com/PascalCoin/PascalCoin

Is there a JSON-RPC API?

PascalCoin offers a JSON RPC API available on both the Daemon and the GUI.

Is there .NET/C# support?

There is a full C# implementation of PascalCoin being developed by Sphere 10 Software called NPascalCoin. It currently supports the JSON-RPC API with plans for network protocol.

How is the Proof of Work calculated?

Proof Of Work Summary

  • Proof of Work = SHA256(SHA256(WorkPayload))
  • WorkPayload := Digest1 ++ Digest2 ++ Digest3
  • Digest1 := BlockNumber ++ AccountKey ++ Reward ++ ProtocolVersion ++ ProtocolAvailable ++ CompactTarget
  • Digest2 := miner payload (raw bytes, ASCII string used as convention)
  • Digest3 := CurrentSafeBoxHash ++ OperationsHash ++ Fee
The OperationsHash is similar in concept to the merkle-root of transactions except is calculated as follows:
OperationsHash := OperationHash(N) where N is number of operations in the block
where
OperationHash(x) := SHA256(OperationHash(x-1) ++ Operation[x].Hash)
You can see the block hashing code at:
UBlockchain.pas line 819:
TPCOperationsComp.CalcProofOfWork
UAccounts.pas line 421:
TPascalCoinProtocol.CalcProofOfWork_Part1
TPascalCoinProtocol.CalcProofOfWork_Part3
Join our slack and discuss with us at #development if you have any questions.

What will the new wallet look like?

When will the new wallet be released?

Soon.

What languages will new wallet support?

English, Spanish, Chinese, South Korean, Japanese, Russian.

Reach out to us if you’d like to help with translations.