Riecoin is a decentralized (P2P), open source digital currency. It allows to transfer money to anywhere in the world with only minimum transaction fees. It is a fork of the Bitcoin project. The name “Riecoin” pays homage to Bernhard Riemann, whose work generated new ways of studying the distribution of prime numbers and is referenced in the math of Riecoin. It also pays homage to Bitcoin, the cryptocurrency that started them all.
Why choose Riecoin and mine RIC
The process of money creation in Bitcoin and any other Proof of Work based altcoin involves mining: every computer in the Bitcoin network that contribute to make the network secure by checking and confirming transactions must constantly solve a given problem. Once a while, someone will finally find a solution, and submit it to the network; if it is valid, it is added in the blockchain. This is a heavy task, that consumes a lot of energy. The computing power of miners supporting the Bitcoin network is much higher than any Supercomputer.
Then, what is the issue? We need to consume that energy anyway to make the network secure, and the more miners are working, the more robust is the network. But now imagine, if we could use these resources for science!
The problem that Bitcoin miners are solving to produce blocks is basically generating hashes until one meets some criterion. Pretty useless, no? Most altcoins are also using similar hashing problems to solve.
Riecoin is different and proposes a network that is not only as secure as Bitcoin, but whose mining produce useful scientific solutions and not useless hashes. Miners are looking for prime constellations instead. These prime numbers are of interest to mathematicians and the scientific community, and many people are even competing each other to beat world records of who found the constellations with the largest prime numbers!
This way, Riecoin provides both an innovative decentralized payment network, and a lot of computing power for science!
And that is not all, mining is done using a CPU! No ASIC monopoly, and finally something different than all those GPU coins. Everyone can join and mine to support the network and earn coins in return!
See also this Riecoin presentation video made by Bill Sotnikow.
Team and contributors
Riecoin was founded by gatra, but he did not give any news since months nor helped for the essential 0.16.3 upgrade, thus is no longer considered to be a part of the team. The current team is composed of:
- Pttn: large contributions to the miner, wallet contributor, riecoin.dev webmaster;
- clo1: main wallet contributor, in particular for the 0.10.2 to 0.16.3 transition;
- cryptapus: wallet contributor, created some Riecoin related software (in particular a faucet and a webwallet).
We also thank: ziiip and XpoolX (pools operators), and guytp (Zapple founder). And naturally every supporting miners and users of Riecoin!
Also check Gapcoin, another cryptocurrency with useful proof of work, similar to Riecoin (searching for big gaps between prime numbers, also has broken world records). We don’t want to be rivals, but rather to mutually help ourselves in order to promote and improve our coins. Thank you BitcoinFX for your support!
New developers wanted! If you like the project and are able to contribute to the wallet, the miner, or any Riecoin related software (create a Android/thin wallet, Riecoin plugins, etc.), you are more than welcome! Reach the team in the social networks, or make direct contributions in GitHub.