Peercoin: Pioneer of Proof of Stake
peercoin PPC

Peercoin: Pioneer of Proof of Stake

By geocrypto | portalgeographia | 1 Jul 2020


Have you ever heard about Peercoin?

We can consider Peercoin as one of those dinosaurs that exist since the most remote eras of the crypto and blockchain, as old as Bitcoin and Litecoin, we can consider it too. Besides a peer-to-peer cryptocurrency, Peercoin is utilizing both Proof of Stake and Proof of Work systems. Therefore, Peercoin is also the first efficient and sustainable public blockchain that works with a safe base and crypto in a world connected by blockchain. Peercoin appeared in August 2012 and the paper listed from the authors as Scott Nadal and Sunny King.

The PoS blockchains are secured by high consumption of electricity and the PoS mechanism consensus replaces with safety and fast protocol. Due to the nature of efficiency influenced by the consensus rules, Peercoin is able to allow any network-connected computer to participate in the blockchain security process. This efficiency strengthens Peercoin by growing the number of security providers and ensuring that security is long-term.

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At Peercoin, the current holders are the ones who will influence the network, produce new blocks, and secure the chains through a process called "minting". The holders participate in the minting simply by installing the version of Peercoin that supports this feature and saving the balance until occasionally they are selected by the minting protocol of the next block in the chain.
This makes Peercoin the first blockchain capable of allowing the protocol rules to be governed directly by users, making the network more decentralized and democratic.

Efficiency, sustainability, governance, and scalability are qualities that combine to form a long-term network focused on decentralization. The main focus works to preserve the reliable, unchanging, and censorship-resistant nature that ensures that all types of value are stored. Value can range from authorized wealth stored in the PPC to data stored in the chain in the form of tokens, records, or contracts. Regardless of what is stored, Peecoin is designed to ensure that the data remains safe and secure.

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Useful links to find out more

OFICIAL WEBSITE

PEERCOIN UNIVERSITY

WHITEPAPER

TELEGRAM GROUP CHANNEL


geocrypto
geocrypto

https://www.geographia.com.br/ I am a teacher, married, family man and I like to write about cryptocurrencies


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