We are happy to announce the addition of our Peercoin Index.
Peercoin's original and noteworthy innovation is the proof-of-stake/proof-of-work hybrid system.
Like other cryptocurrencies, initial coins can be mined through the more commonly used proof-of-work hashing process. However unlike other coins, as the hashing difficulty increases over time, users continue to be rewarded with coins generated by the additional proof-of-stake algorithm. Anyone holding 1% of the currency will be compensated with 1% of all proof-of-stake coin blocks.
In addition to increased security and improved energy efficiency, the hybrid proof-of-work/proof-of-stake algorithm combats the deflationary tendencies that cryptocurrencies can suffer because of their hard mintage caps. Peercoin Main Website
Peercoin was one of the first coins to incorporate a proof of stake system. However, unlike NXT, which is purely Proof of Stake, Peercoin is based on a hybrid system consisting of both proof of work and proof of stake. There are multiple advantages this system supposedly provides.
It allows PPC to be less suseptible to a 51% attack because the attacker would have to be holding a majority of Peercoins, and if that is the case, then the attacker would be hurting their own investment.
Proof of Stake is less hardware intensive than Proof of Work, making Peercoin more environmentally friendly than Proof of Work based currencies in the long run.
By using a hybrid system, rather than straight proof of stake, PPC is fairly distributed to miners through the proof of work algorithm. In pure proof of stake coins, the coins need to be initially distributed because there is no mining, this can lead to fraud, abuse, and scams.
Main Website: http://www.peercoin.net/
Block Explorer: http://ppc.cryptocoinexplorer.com/
Confirmation time: 10 Minutes (Bitcoin is 10 minutes)
Total Currency Units: Currently there are over 21 Million coins in circulation, and it is estimated that there will be 136 million PPC generated through the Proof of Work system. In addition to that, there will always be at least 1% inflation built in per year due to the Proof of Stake system.