Peercoin
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Denominations | |
---|---|
Plural | PPC, Peercoins |
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 |
Development status | Active |
Source model | Open source |
License | MIT/X11 |
Ledger | |
Ledger start | 12 August 2012, 18:00:00 UTC |
Timestamping scheme | HybridProof-of-stakeandProof-of-work |
Hash function | SHA-256 |
Block reward | Variable; depends on network difficulty |
Block time | 10 minutes |
Circulating supply | 27.5M PPC (6 April 2022) |
Supply limit | Unlimited |
Valuation | |
Exchange rate | US$0.67(6 April 2022) |
Website | |
Website | www |
Peercoin,also known asPeer-to-Peer Coin,PP Coin,orPPC,is acryptocurrencyutilizing bothproof-of-stakeandproof-of-worksystems.[1][2]
History
[edit]Peercoin is based on an August 2012[3]paper that listed the authors as Scott Nadal and Sunny King. King, who also createdPrimecoin,is a pseudonym.[4]Peercoin was the first implementation of aproof-of-stake–based cryptocurrency.[5]
The Peercoin source code is distributed under theMIT/X11software license.[citation needed]
Economics
[edit]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
[edit]- ^"Wary of Bitcoin? A guide to some other cryptocurrencies".Arstechnica.2013-05-11.Archivedfrom the original on 2016-10-18.Retrieved2017-06-14.
- ^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.
- ^Daly, Lyle."Peercoin: Defined and Explained".The Motley Fool.Archivedfrom the original on 2024-02-04.Retrieved2023-12-25.
- ^Popper, Nathaniel (24 November 2013)."In Bitcoin's orbit: Rival virtual currencies vie for acceptance".The New York Times.Archivedfrom the original on 1 February 2014.Retrieved25 February2014.
- ^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.ISSN0893-9454.
- ^Frankenfield, Jake."Peercoin Definition".Investopedia.Archivedfrom the original on 3 June 2021.Retrieved30 April2023.
- ^Daly, Lyle."What is Peercoin?".The Motley Fool.Archivedfrom the original on 30 April 2023.Retrieved30 April2023.
- ^Nagalim (14 March 2021)."A Smarter Fee".Peercoin.Archivedfrom the original on 30 April 2023.Retrieved30 April2023.
- ^Daly, Lyle."What is Peercoin?".The Motley Fool.Archivedfrom the original on 30 April 2023.Retrieved30 April2023.
External links
[edit]- Official website
Media related toPPCoinat Wikimedia Commons