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. Peercoin is based on an August 2012 paper that listed the authors as Scott Nadal and Sunny King. King, who also created Primecoin, is a pseudonym. Peercoin was the first implementation of a proof-of-stake–based cryptocurrency. The Peercoin source code is distributed under the MIT/X11 software license. Peercoin uses both the proof-of-work and proof-of-stake algorithms. 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. Proof-of-stake is used to secure the network: The chain with longest PoS coin age wins in case of a blockchain split-up. More information...
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