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A new kind of machine is proposed, in which the continuous variable is represented as a probability of a pulse occurrence at a certain sampling time. It is shown that threshold gates can be used as simple and inexpensive processors such as adders and multipliers. In fact, for a random-pulse sequence, any Boolean operation among individual pulses will correspond to an algebraic expression among the variables represented by their respective average pulse-rates. So, any logical gate or network performs an algebraic operation. Considering the possible simplicity of these random-pulse processors, large systems can be built to perform parallel analog computation on large amounts of input data. The conventional analog computer has a topological simulation structure that can be readily carried over to the processing of functions of time and of one, two, or perhaps even three space variables. Facility of gating, inherent to any form of pulse-coding, allows the construction of stored-connection parallel analog computers made to process functions of time and two space variables. This paper considers this technique of random-pulse computation and its potential implications. Problems of realization, application examples, and alternate coding schemes are discussed. Speed, accuracy, and uncertainty dispersion are estimated. A brief comparison is made between random-pulse processors and biological neurons.