Proof-of-Stake-Time (PoST)

Vericoin has implemented a new algorithm they call Proof-of-Stake-Time or PoST.
“Peercoin calls this “PoS” but I would classify it under the title “PoST” because mining is based off of an account's Stake and the Time for which it has belonged to the account so really, Vericoin is just the first to use the term PoST. That being said, Vericoin's PoST has a wildly different effect on the network than Peercoin's PoST despite their similarities!
The biggest difference is that Vericoin adds a fractional multiplier to the transaction's age. The math is a little complicated, but what you need to know is that the larger portion of the entire network weight that the value of the number of coins multiplied by their age takes up, the sooner the probability to mine a block starts to drop. If not active, everyone's chance of mining a block will eventually start to drop rather than grow.
For the rich this happens sooner and for the poor this happens later but it will happen to everyone if they aren't active. The effect, as it is said in the Vericoin PoST whitepaper is that you get the “active rich” against the “vested poor” as opposed to the “rich ruling” the poor or “poor attacking” the rich. This still isn't the ideal outcome but it is a much better situation than you get with regular PoS.”