Peercoin

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Peercoin
Denominations
Plural	PPC, Peercoins
Symbol	Ᵽ
Code	PPC
Subunits
1⁄100	mPPC (millicoin)
1⁄1000000	μPPC (microcoin)
Development
Original author(s)	Scott Nadal, Sunny King (pseudonym)
White paper	"Peercoin Documentation"
Initial release	12 August 2012, 17:57:38 UTC
Latest release	0.11.0 /
Code repository	github.com/peercoin/peercoin
Development status	Active
Source model	Open source
License	MIT/X11
Website	www.peercoin.net
Ledger
Timestamping scheme	Hybrid Proof-of-stake and Proof-of-work
Block reward	37.36 PPC
Block time	600 seconds
Circulating supply	26,946,897 PPC (20 May 2021)
Valuation
Exchange rate	US$1.99 (20 May 2021)
Market cap	US$53,627,775 (20 May 2021)

Peercoin, also known as PPCoin or PPC, is a peer-to-peer cryptocurrency utilizing both proof-of-stake and proof-of-work systems.

Peercoin is based on an August 2012 paper which listed the authors as Scott Nadal and Sunny King. King, who also created Primecoin, is a pseudonym.^[1] Peercoin is the first implementation of a proof-of-stake based Cryptocurrency.^[2] The Peercoin source code is distributed under the MIT/X11 software license.

In the proof-of-stake system, new coins are generated based on the holdings of individuals. In other words, someone holding 1% of the currency will generate 1% of all proof-of-stake coin blocks. This has the effect of making a monopoly more costly, and separates the risk of a monopoly from proof-of-work mining shares.^{[3][irrelevant citation]}

Economics[]

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Proof-of-work and proof-of-stake both serve as means of distributing new coins.

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

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

References[]

External links[]

• Official website
• Media related to PPCoin at Wikimedia Commons