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Peercoin

From Wikipedia, the free encyclopedia

Peercoin
Denominations
PluralPPC, Peercoins
CodePPC
Subunits
 1⁄100mPPC (millicoin)
 1⁄1000000μPPC (microcoin)
Development
Original author(s)Scott Nadal, Sunny King (pseudonym)
White paper"Peercoin Documentation"
Initial release12 August 2012, 17:57:38 UTC
Latest release0.11.0 /
Code repositorygithub.com/peercoin/peercoin
Development statusActive
Source modelOpen source
LicenseMIT/X11
Ledger
Ledger start12 August 2012, 18:00:00 UTC
Timestamping schemeHybrid Proof-of-stake and Proof-of-work
Hash functionSHA-256
Block rewardVariable; depends on network difficulty
Block time10 minutes
Circulating supply27.5M PPC (6 April 2022)
Supply limitUnlimited
Valuation
Exchange rateUS$0.67 (6 April 2022)
Website
Websitewww.peercoin.net

Peercoin, also known as Peer-to-Peer Coin, PP Coin, or PPC, is a cryptocurrency utilizing both proof-of-stake and proof-of-work systems.[1][2]

YouTube Encyclopedic

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  • What is Peercoin and how does it work?
  • 5 Facts about Peercoin
  • Peercoin vs Bitcoin - A comparison
  • Peercoin setup guide - Episode 1 Downloading a wallet
  • How to buy peercoin

Transcription

History

Peercoin is based on an August 2012[3] paper that listed the authors as Scott Nadal and Sunny King. King, who also created Primecoin, is a pseudonym.[4] Peercoin was the first implementation of a proof-of-stake–based cryptocurrency.[5]

The Peercoin source code is distributed under the MIT/X11 software license.[citation needed]

Economics

Peercoin uses both the proof-of-work and proof-of-stake algorithms.[6] Both are used to spread the distribution of new coins. During its primary years, Peercoin relied heavily on PoW, although there has now been a transition to PoS.[7] Proof-of-stake is used to secure the network: The chain with longest PoS coin age wins in case of a blockchain split-up.

A transaction fee prevents spam and is burned (instead of being collected by a miner), benefiting the overall network.[8]

To recover from lost coins and to discourage hoarding, the currency supply targets growth at 1% per year in the long run.[9]

References

  1. ^ "Wary of Bitcoin? A guide to some other cryptocurrencies". Arstechnica. 2013-05-11. Archived from the original on 2016-10-18. Retrieved 2017-06-14.
  2. ^ Zhao, Wenbing; Yang, Shunkun; Luo, Xiong; Zhou, Jiong (26 March 2021). "On PeerCoin Proof of Stake for Blockchain Consensus". ICBCT'21: The 3rd International Conference on Blockchain Technology. ACM. pp. 129–134. doi:10.1145/3460537.3460547.
  3. ^ Daly, Lyle. "Peercoin: Defined and Explained". The Motley Fool. Archived from the original on 2024-02-04. Retrieved 2023-12-25.
  4. ^ Popper, Nathaniel (24 November 2013). "In Bitcoin's orbit: Rival virtual currencies vie for acceptance". The New York Times. Archived from the original on 1 February 2014. Retrieved 25 February 2014.
  5. ^ Saleh, Fahad (2021-03-01). "Blockchain without Waste: Proof-of-Stake". The Review of Financial Studies. 34 (3): 1156–1190. doi:10.1093/rfs/hhaa075. ISSN 0893-9454.
  6. ^ Frankenfield, Jake. "Peercoin Definition". Investopedia. Archived from the original on 3 June 2021. Retrieved 30 April 2023.
  7. ^ Daly, Lyle. "What is Peercoin?". The Motley Fool. Archived from the original on 30 April 2023. Retrieved 30 April 2023.
  8. ^ Nagalim (14 March 2021). "A Smarter Fee". Peercoin. Archived from the original on 30 April 2023. Retrieved 30 April 2023.
  9. ^ Daly, Lyle. "What is Peercoin?". The Motley Fool. Archived from the original on 30 April 2023. Retrieved 30 April 2023.

External links

This page was last edited on 24 May 2024, at 22:18
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