PascalCoin is a cryptocurrency of a next generation that aims to take scalability to a new level, reaching levels to that of a VISA transfer. It uses an innovative cryptographic structure known as the Safebox. Ledger balance is maintained in the Safebox, rather than the full ledger. PascalCoin’s blockchain is infinitely scalable, with blocks past the 100 checkpointing height being deletable. When the new node joins the network, it only downloads the last checkpoint, along with a few dozen blocks.
Instead of using a series of blocks containing transaction records, PascalCoin uses the Safebox and blocks linked together, forming a blockchain. Each node has its own copy of the Safebox that is updated independently when new blocks are announced. After they proceed with the update, a new Account Segment is created, with the winning miner being awarded with a brand new PascalCoin account. The Safebox, in its core, is a list of accounts. These accounts contain funds, the public key of the owner and a type field.
Before the creation of the first block, the genesis SafeBox is created. Miners utilize the Proof of Work algorithm to seek a new block for the blockchain. A new Safebox is created parallel to the first block, along with an Account Segment, containing a set amount of new accounts.
Like with other cryptocurrencies, blocks in the PascalCoin blockchain act as containers for transactions. These transactions are called “Operations”, as they can be used for more than transferring funds, like for example to change an account’s key, change its name or to put it for sale. PascalCoin also provides some anonymity features.
Despite that it offers interesting features like deletable blockchain, not much interesting has been happening with the coin. There’s hardly any information about the team and a complete lack of marketing and partnerships. The team seemingly just doesn’t care much about the coin becoming mainstream, since they haven’t bothered to list it on any big, reputable exchanges outside of Poloniex. Their logo also looks outdated and is due for a rebrand.
PascalCoin is a somewhat-ok project. The technology behind the cryptocurrency is decent and it definitely brings something new to the table with its SafeBox protocol combined with anonymity. With near-infinite scaling, PascalCoin could make a fine addition to the payment options of some high-traffic online store, but the fact that the semi-active developers won’t bother to try and list their coin on a new exchange or do some sort of marketing campaign creates quite an obstacle. There’s certainly potential in the project, but the execution is definitely lacking.
