Peercoin is the peer-to-peer cryptocurrency and it utilizes both proof of work and proof of currency systems. It is also popular with the name PPC. Scott Nadal and Sunny King are the co-founders of Peercoin cryptocurrency. This cryptocurrency was introduced in the year 2012. Peercoin shares much of the source code and technical implementation of the most popular cryptocurrency Bitcoin.
In terms of market capitalization, Bitcoin is the 4th largest minable cryptocurrency. The key innovation is the hybrid system in Peercoin. Initially the coins are mined using a system of proof-of-work. However if the number of coins increases, the system shifts to a proof-of-stake system which is both secure and requires much less energy. The energy consumption in Peercoin is expected to be dropped over the period of time and does not skyrocket over time. Since the inception of this popular cryptocurrency, its open source codebase has gone through consistent development and Peercoin has got a vibrant community of developers.
A security concern which surrounds Peercoin is the situation when a single user manages more than half coins in the system and he/she may be able to verify the transactions constantly. But this issue is actually very less possible and this is a minor danger possible. Another concern is the stability of the price of Peercoin which can occur sometimes.
Although there are a number of good features in other types of cryptocurrencies including high reputation and value, Peercoin also offers some good features since the designers of this cryptocurrency has thought a lot about its future.
Since Peercoin uses less energy than Bitcoin and other alternatives, it is boasted as an environment friendly and a much sustainable altcoin. The amount of energy used by Peercoin is supposed to go more less over time since the Peercoin will transition more to Proof-of-stake system.
Where to buy Peercoin?
Want to buy or sell Peercoins? Click on the following companies to find out the best place for selling and buying Peercoins in Australia.
Want to find out the price of Peercoin live? View our Peercoin calculator and see the value of the coin now!