PascalCoin is an innovative cryptocurrency that extends the blockchain-paradigm by introducing a
new cryptographic structure known as the SafeBox . The SafeBox maintains a ledger balance rather than a ledger
 . PascalCoin facilitates value-transfer between users by allowing them to transact funds (PASC) to and from
accounts (PASA) much in the same way as traditional banking. Unlike most cryptocurrencies, PascalCoin accounts are
simple and easy-to-remember (e.g. 1234-56) and not complicated strings which must be copy-pasted or scanned.
Since only the ledger balance is required for consensus and not the full ledger, PascalCoin attains exponentially
higher transaction throughput per unit of storage than UTXO-based cryptocurrencies. The design philosophy of
PascalCoin is to take Bitcoin and rather than abstract and generalise as Ethereum does, simplify and refocus into a
The SafeBox is the ultimate source of truth in PascalCoin and provides a ledger balance of all users’ funds.
Structurally, it is like a spreadsheet where each row denotes a bank account (PASA) and each column denotes a
property of that account (i.e. PASC balance, public key, etc). The “address” of an account is simply its index within the
SafeBox (with an appended checksum). In addition, every 5 rows are grouped into an Account Segment sub-structure
which corresponds to a block in the blockchain. Every time a new block is minted, the transactions/operations
contained within that block are applied to the SafeBox resulting in a mutated state, and 5 new accounts are created.
The resultant hash of the mutated SafeBox must then be referenced by the subsequent block in order to qualify as
the next block.
Unlike traditional UTXO-based cryptocurrencies, the blockchain in PascalCoin is only used to mutate the SafeBox in
a decentralised, ACID manner, not to serve as a source of funds. Whilst a Proof-of-Work blockchain is still required to
facilitate Byzantine consensus (up to a checkpoint), it is not permanently required. As a result, the blockchain in
PascalCoin is deletable.