The Idea of Pixelcash

Pixelcash is a conceptual PoW (proof of work), truly decentralized, peer to peer, and completely anonymous cryptocurrency with smart contract (built-in escrow) capabilities also called “Pixelnote”.

To learn in-depth about Pixelcash, please download our full report.

INTRO

MINING

A whole Pixelcash unit (one Pixelnote) itself starts life as a grouping of exactly one million freshly minted, high quality .jpeg images called jpenny, hosted in a cloud.

SPENDING

When Pixelcash is spent from a wallet, jpennies are decrypted, matched against cloud’s ledger, and processed by the cloud's algorithm and delivered to the recipient’s wallet.

NETWORK

Pixelcash community itself will be put in charge of maintaining the cloud, by enabling them to operate through a concept called the “Decentralized Data Center”, or DDC.

SUPPLY

The total supply will be capable of keeping itself proportionate; as number of jpennies minted each year increased.

MORALE

The cryptocurrency community believes that in order for any newly created cryptocurrency to gain traction and become a success, it must be unique.

CLOSURE

Pupa Pictura is Minarum Mille. If you think your cryptocurrency portfolio could use more .jpeg, then you should get your hands on some Pixelcash.

PIXELCASH NETWORK

Unlike other cryptocurrency markets, there are two different types of machines needed to support the Pixelcash network, male and female.

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Pixelcash Q & A

A: If and when I begin my real work on this, it will be more as a for-fun project, like Dogecoin was, i.e. a novelty. One notable problem I imagine it solves is the whole issue of supply, which in pretty much every other crypto is either hard coded into the mining algorithm or reliant on token sales. It would also offer high resistance to hard forking, cloning, and ASICs.

A: It's hard to tell how much profit it's possible to make. That's kind of like asking how much profit Bitcoin can make in 2009. Everybody thought it was just a worthless showbiz token back then. If someone "steals" this idea from here (note that by publishing it here, it's fair game) and runs it, I would still be happy because that means there is an interest in it from the community and thus an opportunity for growth, and if I'm an early adopter, I'm all for it.

A: The units would have fungibility up to a certain point; it is explained in the whitepaper that they would be spendable thousands of times before they near the end of their lifespan, and also that the wallet clients would be equipped with technology to meter the exact percentage of "worn out" units (i.e. units with only 2 or 3 spends left) on both the spending and receiving ends, enabling both the sender and receiver to deal only in the highest quality units and enforcing a notion of scarcity. This emulates paper money becoming worn out after being handled thousands of times and being removed from circulation. A thing is "fungible" if all units of it are equivalent for the purpose of ownership. That is, you don't need to keep track of which units you own, only how many you own. And, if you lend some to someone, they are only obliged to the return the same amount, not exactly the same units. Bitcoins are perfectly fungible; in fact the transactions in the blockchain itself do not record which Bitcoins are moved from each input to each output, only how many are moved from all inputs to each output.

A: Yes, if you use GitHub, there is a Gitter chat room dedicated to Pixelcash. Feel free to contact the developers or even offer your own help. Just use the Gitter plug-in on this page.