Peercoin (PPC)
From CryptoWiki
| Consensus mechanism | Proof of Stake + Proof of Work |
|---|---|
| Total supply | 20.500.000 |
Basics
- Forked of BTC
- First PoS/PoW hybrid. Their PoS later was found to have flaws
- Currency, SHA-256d
- Difficulty Info: Every 16x in difficulty mint rate is halved
- No Premine or Presale
- Not really innovative anymore, kind of like Litecoin. Had it’s place, but got taken over by newer more innovative coins.
- Peercoin's original innovation is the proof-of-stake/proof-of-work hybrid system. Like other cryptocurrencies, initial coins can be mined, but the core network is maintained by coin holders, rather than the fastest pool. Maintaining the network through the hybrid PoW/PoS algorithm reduces the risk of the Selfish-Miner Flaw, 51% attacks, and the block bloating that have been used to exploit other currencies. It also requires far less energy than generating hardware-intensive proof-of-work hashes. Proof-of-stake also does away with the ~$1 billion tax on the Bitcoin network through proof-of-work blocks.
Team
- Sunny King; creator
