What is "primecoin"

Primecoin ( sign: Ψ; code: XPM) is a peer-to-peer open source cryptocurrency that implements a unique scientific computing proof-of-work system. Primecoin's proof-of-work system searches for chains of prime numbers. Primecoin was created by a person or group of people who use the pseudonym Sunny King. This entity is also related with the cryptocurrency Peercoin. The Primecoin source code is copyrighted by a person or group called “Primecoin Developers”, and distributed under a conditional MIT/ X11 software license.

Primecoin has been described as the main cause of spot shortages of dedicated servers because at the time it was only possible to mine the currency with CPUs. For the same reason, Primecoin used to be the target of malware writers.