What is Peercoin?
Peercoin is a hybrid blockchain that uses a Proof-of-Stake (PoS) and Proof-of-Work (PoW) consensus mechanism. Essentially, on the Peercoin blockchain, PoS is used to safeguard the chain, whereas the PoW is used for distribution and decentralization. However, most blocks are created through PoS. Though it’s worth mentioning that Peercoin is the first to implement the PoS consensus algorithm.
PoS means that the Peercoin blockchain depends on the minting process to create new blocks to the chain and manage them. It’s related to the cold staking of the Peercoin token, the PPC. In other words, PPC holders are the main group to produce new blocks. Not only that, time is essential: the higher the time of accumulation, the more power the holders have to participate. Besides that, a PPC holder can only make one block at a time. In return for the creation of a new block, the user earns rewards in PPC.
If you are interested in knowing the current PPC price, you can check the Peercoin price chart featured above.
On the other hand, Peercoin's PoW is based on Bitcoin’s mining algorithm (double iterated SHA-256 algorithm). Though, it has a different purpose. It’s meant mainly for distribution and decentralization. That is, only a small portion of Peercoin’s blocks are created through PoW. Thus, the chain doesn’t depend on mining and hash power.
The distribution happens when miners use their PCC coins earned through mining to sell them on exchanges. If purchased and transferred to a wallet, there’s a chance for a new stakeholder to become a security provider for the network by engaging in the PoS process. This contributes to making the blockchain even more decentralized since more users are actively involved. Thus, Peercoin is a community-driven blockchain.
Use Cases of PPC Tokens
As stated before, the Peercoin crypto asset is used as a reward for minters and miners. It can also be used to make transactions in the Peercoin blockchain. Moreover, PPC is available for purchase and trading on different exchanges. Additionally, PPC is a governance token. Therefore, users not only are able to create new blocks, but they also have the power to influence and choose the future of the network.
Note that there's also a Wrapped Peercoin (wPPC). It's a synthetic Peercoin-backed token that is created using Peercoin's bridge and destroyed once the holder unwraps the Peercoin.
Don’t forget you can check the live Peercoin price above. It features the current and the previous PPC price.
Who Founded Peercoin?
The Peercoin crypto project was developed in 2012 by two developers – Scott Nadal and Sunny King. However, Scott Nadal left the project in November 2013 leaving Sunny King as the core developer. Sunny King is a pseudonymous developer who also founded Primecoin and V Systems. Besides, he is the inventor of the Proof-of-Stake (PoS) consensus mechanism.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
35.37K
Followers: 35,374
0.08%
Following
72
0.00%
Posts count
2,155
0.05%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
9.52K
Subscribers: 9,526
0.01%
Subreddit type
public
Moderators
3
0.00%
These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
2.41K
Members: 2,413
0.00%
Title
Peercoin×Discord
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
57 / 100
1.72%
Ahrefs Rank
318,534
9.92%
Organic Traffic (mo.)
0
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
63
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
582
0.17%
Watchers
99
0.00%
Forks
572
0.17%
Language
C++
r/peercoin hot topics
@PeercoinPPC posts