This whitepaper is not investment, financial, or trading advice, nor is it a recommendation by PrimeAI. It should not be relied upon for purchasing decisions. It is not a prospectus, financial service offering document, or an offer to sell or buy any security, investment products, or financial instruments in any jurisdiction. PrimeAI coins are not structured or sold as securities. No representations or warranties have been made regarding the accuracy or completeness of the information in this whitepaper. This whitepaper does not constitute advice, a sale, or a solicitation of an offer by PrimeAI to purchase our coin, nor is it part of any effect used for investment decision.
RISK STATEMENT
Purchasing PrimeAI coins may involve substantial risk and could lead to a loss of a significant or even the entire amount of money invested. Before purchasing any cryptocurrency, you should carefully assess and consider the risks, including those listed in any associated documentation. Cryptocurrencies should not be purchased for speculative or investment purposes.
Network Name: PrimeAI
Mining Algorithm: KAWPOW Proof-of-work
Block Time: 1 minute
Initial Block Size: 8 MB
Block Reward Schedule: 2500 coins per block
Block Reward halvening: ~ 4 years
First Halvening: 2100,000 blocks
Maximum Supply: 21B
Decimal Places: 8
Launch Date: 2024-03-17 08:40 UTC
Main Network: 8323
Main RPC: 8330
Testnet Network: 18323
Testnet RPC: 18330
Regtest Network: 18097
Regtest RPC: 18310
Public key addresses: Started with 'P'
Private key addresses: Started with 'A'
BIP32 private: 0x0488ade4
BIP32 public: 0x0488b21e
The difficulty adjusts every 2016 blocks which is around 33.5 hours, which is approximately two weeks. The block time for PrimeAI is one minute, compared to 10 minutes on Bitcoin. This means that PrimeAI transactions confirm up to four times faster than those of Bitcoin. A unique feature of Kawpow is that anyone can create their own token on the blockchain. This is the same as that of any ERC20 tokens built on the Ethereum blockchain or other blockchains that support smart contracts.
Blockchain is a digital ledger technology that is decentralized and distributed. Transactions are logged across numerous computers connected in a peer-to-peer network. The term “blockchain” originates from its structure, where individual records, known as blocks, are interconnected in a single sequence, referred to as a chain.
Each block holds transaction details, such as the date, time, blockchain’s version, previous hash, Merkle Root, unique number that is assigned to a block during the mining process, and parties involved. Its revolutionary aspect lies in its near invulnerability to alterations, hacking, or fraudulent activities. Once a block is incorporated into the chain, it’s there forever.
Blockchain technology provides several key benefits, such as:
Decentralization: Blockchain operates differently from traditional transactions overseen by central banks or governments. It doesn’t require intermediaries. Instead, a peer-to-peer network handles transactions and data sharing, thereby eliminating the risk of centralization.
Money Transfer: Blockchain technology has revolutionized the financial industry by enabling quick, secure, and efficient transfer of funds.
Supply Chain Management: Blockchain technology can provide transparency and traceability in supply chains, helping to ensure the authenticity of products and prevent fraud.
Cybersecurity: Blockchain’s decentralized and immutable nature makes it ideal for cybersecurity applications.
Transparency: Blockchain records every action, and all participants can view these records. This fosters trust and transparency among users.
Security: Thanks to its cryptographic and decentralized nature, blockchain offers high security. It’s highly resistant to hacking attempts.
Efficiency: Blockchain eliminates the need for intermediaries in many operations, like commodity trading or cross-border transactions. This makes processes more efficient.
PrimeAI is free and open source. All coins are fairly issued and mined publicly and transparently using Proof of Work (POW) using the Kawpow algorithm.
We chose Proof of Work (PoW) because it emphasizes the most valuable aspect of the task, which is the construction of an increasingly large, time-based barrier that safeguards user data against future tampering and censorship with each new layer added.
For the PoW consensus, we have adopted the KAWPOW algorithm instead of other algorithms due to its GPU-friendly nature and resistance to ASIC machines, which helps prevent dominance by specific mining farms. Another reason is that Kawpow natively supports assets.
Creating a decentralized and censorship-resistant system introduces a series of technical challenges, making it technically complex. One of the non-trivial problems is ensuring that all nodes maintain a coherent view of the global state. This issue is addressed by consensus algorithms like Proof of Work (PoW). As more nodes join the network, performance and efficiency do not scale linearly. However, they do enhance the network’s security by blocking any transaction attempts that fall outside of consensus and facilitating better connectivity from any geographical area.
Operating a node is a straightforward process that enhances the network’s decentralization. It provides the operator with quick access, eliminating the dependence on external machines or third-party services for necessary interactions with the PrimeAI network. Running a node also offers privacy for the operator and greater control over their own management.
PoW is an excellent mechanism for ensuring fair distribution, particularly if it’s mineable using commodity hardware. Anyone can participate in the network and earn a share of the block reward as long as they contribute computing power. This is in contrast to other distribution mechanisms such as ICOs, pre-sales, or even airdrops. PoW also provides an objective method to determine the validity of a chain without relying on any external source.
Staking and Holding
The mission of PrimeAI is to enhance the lives of crypto enthusiasts worldwide through cryptocurrency. PrimeAI aims not only to empower stakers and holders with funding but also to serve as the currency for the entire ecosystem.
PrimeAI Scalability
PrimeAI distinguishes itself as a cryptocurrency with inherent scalability, ready to seamlessly handle a significant volume of transactions without sacrificing operational efficiency. This feature is supported by a series of carefully designed techniques that collectively enhance the performance of its network, positioning PrimeAI as a leader in the field of high-throughput blockchain systems.
The key aspect of PrimeAI’s scalability results from its strategic implementation of a multifaceted approach. The coordination of these strategies highlights our dedication to maintaining a robust and responsive cryptocurrency network, even as transaction demands increase.
Our team is dedicated to enhancing the scalability of PrimeAI as a cryptocurrency. They are tirelessly working on improving the network’s scalability, with the assurance that PrimeAI will be capable of managing a substantial volume of transactions in the future.
Adoption and Marketing
For PrimeAI to achieve widespread acceptance, it must comprehensively address entry barriers and offer appealing benefits to miners, developers, and other participants in the trading sphere. By refining its Proof of Stake system, broadening its ecosystem, and forging strategic partnerships, PrimeAI can effectively enhance its market presence and establish itself as a leading cryptocurrency.
Fundamentally, the PrimeAI blockchain presents a novel approach to integrating blockchain technology with AI applications. The platform inherently has the potential to transform the financial system. As the platform’s influence grows, PrimeAI is set to instigate significant changes in the ecosystem, providing new opportunities and incentives for AI-based businesses, developers, and other stakeholders.
PrimeAI is positioned at the crossroads of blockchain and artificial intelligence, with the goal of making open-source AI technology both more user-friendly and beneficial for the community. Initially, PrimeAI will use a Proof of Work (PoW) model to draw in GPU miners. It will then shift to a Proof of Useful Work (PoUW) platform, which will become responsible for hosting and handling AI tasks, rendering, trying, using, & fine-tuning different AI models. A significant evolution in the PrimeAI Project is the transition to the PoUW system.
The PrimeAI Project is set to launch a sustainable and equitable economic model. At the outset, the protocol will leverage a PoW mechanism, offering miners a block reward of 2500 coins for each block for securing the network. With a block time of 1 minute, this will ensure efficient and prompt transaction processing. As the PrimeAI Project progresses, it will transition to the PoUW system. During this transition, there will be a gradual decrease in block rewards to promote early adoption and active involvement.
By merging the fields of blockchain and AI, the PrimeAI Project aims to foster a broader and more inclusive progression in various AI models, deep learning, and rendering for content creators, 3D models, among other things. We’re not just cultivating a network; we’re building a community ready to spearhead the forthcoming surge in technological advancements.
AI and Accessibility: AI has the potential to redefine accessibility, setting the stage for a future where inclusion is not just a goal but a reality. AI systems, such as machine learning and natural language processing, learn from data and adapt their responses over time. This adaptability is what makes AI promising in the realm of accessibility.
Assistive Technologies: AI can offer a lot of benefits in improving accessibility across different areas such as education, employment, community, and home environments. For example, AI-powered language processing mechanisms can provide real-time transcription and captioning services for students with hearing impairments, making classroom lectures and discussions more accessible. By implementing these strategies, PrimeAI aims to build a community that is actively involved in the development and utilization of AI technology.
Within the PrimeAI ecosystem, the Useful Proof of Work (UPoW) protocol will convert the computational energy used in the mining process into valuable, advantageous results. This protocol will direct this computational power towards the training of Artificial Neural Networks (ANNs), effectively utilizing the network’s vast computational power for the advancement of machine learning.
In PrimeAI’s UPoW protocol, the ranking of computers is dependent on how effectively their AI miners can solve these intricate problems. The main goal of this mining operation isn’t just the validation of transactions or the creation of new blocks, but it’s for determining a computer’s ranking for each epoch, a time span of one week. The better a computer’s miner performs, the higher its ranking, and consequently, its potential earnings.
The incorporation of PoUW will introduce an element of energy efficiency to the PrimeAI network. It will ensure that the energy expended in mining is directed towards solving real-world problems, such as machine learning tasks. This approach will enhance the overall usefulness of the network, making it advantageous not only for network maintenance but also for external applications and services.
The PrimeAI Project’s distinctive strategy towards PoW and the incorporation of PoUW will offer a hopeful and environmentally friendly substitute to conventional consensus mechanisms. By utilizing AI models to tackle intricate tasks, the PrimeAI Project will uphold network security and decentralization, potentially diminishing energy usage and making a significant contribution to the progression of machine learning and artificial intelligence.
Assets on PrimeAI: An asset on the blockchain is a digital symbol of value or possession, preserved on a blockchain network. It can manifest in different forms, including cryptocurrencies such as tokens, or non-fungible tokens (NFTs).
The defining features of these assets include their digital form, decentralized governance, and unalterable transaction history. They offer the convenience of easy transfer, often bypassing the need for middlemen, and are secured through cryptographic techniques.
Not only do blockchain assets serve as a means of trade, but they can also denote ownership of tangible or digital assets, or access privileges in decentralized applications.
Proof of Work (PoW) is a consensus mechanism used in blockchain technology where one party (the prover) proves to others (the verifiers) that a certain amount of computational effort has been expended. This mechanism is decentralized and requires network members to expend effort in solving an encrypted hexadecimal number. PoW is also known as mining, in reference to receiving a reward for work done. The work must be moderately hard on the prover’s side but easy to check for the verifier. This system forms the basis of many cryptocurrencies, allowing for secure consensus.
Proof of Useful Work (PoUW) is an alternative approach to PoW. It aims to replace the excessive usage of hash functions with tasks that bring additional real-world benefits. Instead of wasting energy on computations that only enable consensus and secure the blockchain, PoUW repurposes the computational effort required to maintain protocol security to solve complex real-world problems. This results in PoWs whose completion does not waste energy but instead is useful for the solution of computational problems of practical interest.
In summary, while both PoW and PoUW require computational work, the key difference lies in the application of that work. PoW focuses on securing the network, while PoUW aims to make the work done useful beyond just network security.