Primecoin, Cryptocurrency with Prime Number Proof-of-Work

A proposal for a new type of proof-of-work cryptocurrency based upon a search for prime numbers via Cunningham prime chains and bit-twin prime chains.

A new type of proof-of-work based on searching for prime numbers is introduced in peer-to-peer cryptocurrency designs. Three types of prime chains known as Cunningham chain of first kind, Cunningham chain of second kind and bi-twin chain are qualified as proof-of-work. Prime chain is linked to block hash to preserve the security property of Nakamoto’s Bitcoin, while a continuous difficulty evaluation scheme is designed to allow prime chain to act as adjustable-difficulty proof-of-work in a Bitcoin like cryptocurrency.