Rimcoin is a digital P2P currency; that is de-centralized.
HTTP Server:
contains,
- a list of all balances
- a list of all other servers (AKA nodes)
- the ability to contact another node
- a target node
Alice has 5 Rimcoin. Bob has 2.6 Rimcoin.
Alice broadcasts to a random node, Node A, send 2 Rimcoin to Bob. And here is my proof ID, to prove I own these Rimcoin.
Next, Node A updates it's balance file, then contacts all other nodes with the same data.
Now, the Rimcoin network agrees that this is the balance file:
Alice has 3 Rimcoin.
Bob has 4.6 Rimcoin.
When a new node joins, they contact a random node, to get the current nodes, and adds itself. Then, it contacts all other nodes, informing them a new node has joined, and this is their data.
Rimcoin uses mining.
Rimcoin does not use a blockchain, so Rimcoin mining is simply finding a hash below a certain value.
You will ALWAYS be rewarded 50 coins, when you find a hash.
RNP is the Rimcoin Network Protocol, and it's documentation is here