Parallax
The open source protocol for P2P Programmable Cash System
Parallax uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of coins is carried out collectively by the network. Parallax is open-source; its design is public, nobody owns or controls Parallax and everyone can take part.
Bridging two Worlds
Parallax combines Bitcoin’s uncompromising monetary discipline with Ethereum’s programmable smart contract ecosystem, creating a network where sound money meets expressive computation. By uniting immutable monetary rules, full EVM compatibility, and proof-of-work security, Parallax bridges the gap between economic resilience and developer freedom—without sacrificing decentralization.
Abstract
Parallax is a timechain protocol that unites Bitcoin’s immutability and monetary discipline with Ethereum’s programmability. Operating under Bitcoin’s fixed rules — Proof of Work, ten-minute blocks, halving cycles, and a capped 21 million supply — Parallax extends these foundations with the Ethereum Virtual Machine. By adopting XHash mining — a modified Ethash variant designed to obsolete existing ASICs — and rejecting premine or privileged allocations, it launches as a fair and neutral experiment in programmable cash: scarce, decentralized, and permissionless.
Technologies used in Parallax
Parallax combines the best of Bitcoin and Ethereum, creating a unique protocol that offers both monetary predictability and programmable functionality.
Parallax employs elliptic curve digital signatures (ECDSA over secp256k1) to authenticate transactions and enforce ownership at the protocol level.
Each signature provides non-repudiation and cryptographic assurance that only the holder of the private key corresponding to a public address can authorize state transitions.
Parallax integrates a fully deterministic Virtual Machine (PVM) execution layer for state transitions and contract computation.
It inherits the Ethereum execution semantics — gas accounting, opcode compatibility, and Merkle Patricia Trie state management — while operating under Bitcoin-like monetary constraints.
Parallax functions as a decentralized timestamp server, where each block commits to the hash of its predecessor — forming an immutable chain of cryptographically verifiable time events.
Proof-of-Work transforms time itself into a scarce computational resource, preventing backdating and enforcing an objective ordering of events without trusted authorities.
Parallax adheres to the Nakamoto consensus model, where the heaviest valid chain — defined by cumulative proof-of-work — determines canonical state.
Consensus emerges organically through probabilistic finality: each block built atop another increases the cost of reversal exponentially with depth.
The Parallax Client
Download and run the reference Parallax node software. Help secure the network and participate in consensus.
Documentation
Find beginner guides and in-depth technical documentation about the Parallax protocol and reference client.
Built by the Community
Parallax is guided by a truly decentralized community. No single entity can dictate its future—every voice matters. Join the conversation and help shape the protocol in our official BitcoinTalk thread.