Peercoin

Overview of Peercoin

Peercoin is a public blockchain network that was created in 2012, and focuses on building a robust alternative to Bitcoin’s energy-intensive PoW consensus, with a few unique characteristics like on-chain voting and the inclusion of PoW mining for more equal distribution of tokens.

Peercoin has its own official desktop wallet for Windows, Mac, and Linux computers that gives you all the key functionality regarding coin transfer and minting, but bear in mind that it requires the download of the whole blockchain (less than 1 GB).

Peercoin is based on Bitcoin, while introducing many important innovations to cryptocurrency field including new security model, energy efficiency, better minting model and more adaptive response to rapid change in network computation power.

Peercoin’s blockchain is, due to its long-term self-sustainability and constant updates following the quick technological development of Bitcoin’s core architecture, an ideal platform for creating more advanced solutions.

Peercoin (PPC): is a young project that works hard for its integration into the market is clearly necessary, implements the use of electronic commerce as a transaction portal and allows the use of…See more

Peercoin is available as an AppImage which means “one app = one file”, which you can download and run on your Linux system while you don’t need a package manager and nothing gets changed in your system.

Peercoin’s co-founder Sunny King would code in his private repository and only publish the code once it was release ready, which sucked for contributors and other interested parties.

Peercoin (PPC) tries to be the most secure cryptocoin at the least cost, compensating all clients for reinforcing the system by giving them a 1% yearly PPC return when minting.

Peercoin suggests this method as the main basis for keeping the blockchain secure, while the mechanism of selecting the next block forger is based on the so-called coin day.

Peercoin solved the potential monopoly problem of users owning high amounts of coins that laid intact in their wallets for a long period of time in a very interesting way.

Blockchain

For those willing to try out Peercoin mining we should note that since it is directly based on the core Bitcoin blockchain and its SHA-256 mining algorithm, Peercoin now requires powerful and specialized machines for creating blocks through the PoW method – the so-called ASIC miners.Naturally, the question of long-term profitability of initial investment is raised, which could reach several thousand dollars, especially due to the fact that Peercoin doesn’t prefer this method.Mining generates a block of 820 bytes roughly every 10 minutes, with the reward of approximately 90 USD per block making profitability, in accordance with the initial design, greatly reduced.For those who do want to try out mining or just get to know something more about the process, a good guide with the list of available mining pools can be found on the official website.Of course, before actually beginning with mining, we strongly advise you to do mining profitability calculation by using one of the online calculators.

Mine

The concept of coin age is an efficient solver of the problem of determining the main chain after separating the blockchain to 2 identical ones (fork), in cases when a part of the community disagrees with the coin’s future development plan.A good example for that can be found in the recent Bitcoin Gold fork that deeply divided the community, thus showing how a huge amount of cryptocurrency in wrong hands, combined with the fairly new market full of inexperienced traders can endanger the whole ecosystem.Peercoin determines the main chain based on the data of “spending” coin age for each transaction in each block.The main chain is the one that has a bigger total amount of spent coin age – this is the proof that this chain has existed longer.

Network

Also, due to the PoS system, Peercoin is much less susceptible to a potential 51% attack.Given the fact that by keeping Peercoin in an encrypted wallet unlocked only for minting the user makes the network more secure while also increasing his chances of generating a new block, the majority of coins is located in wallets instead on exchanges.A potential attacker would have to own over 51% of total coin age of all coins participating in the minting process, which is a considerable effort due to the fact that they are located in wallets.The investment for executing such an attack would quickly rise exponentially, because the price of a single Peercoin would grow significantly due to the high demand.Moreover, by purchasing an excessive amount of coins, the attacker would actually harm himself, because his actions would cause the price of Peercoin to drop if he decides to cash them out.

Support

Coinpayments will handle online transactions, and peercoin is also hoping to have a mobile wallet available to support in-person payments.

Transactions

Peercoin (PPC) can be explained as an attempt at an alternative to Bitcoin that gets rid of the excessive amount of energy required to support the network.At its core, Peercoin is very similar to Bitcoin in that it is a form of digital money that uses Blockchain to maintain all transactions.However, the Proof-of-Work concept used by most digital currencies requires a lot of power to add new blocks to the Blockchain.The Proof-of-Stake concept was made to fix this problem.Instead of using a power-hungry mining process, the staking process selects nodes based on how many coins are being held in an individual’s virtual wallet.This innovative concept-based cryptocurrency grew very fast, becoming the third largest cryptocurrency in the world in 2013.Today, however, Peercoin is currently ranked 202nd on CoinMarketCap.

• Who are you ?

We are just two random guy having fun with a side project.

• How to spend the coins stored in a paper wallet ?

You will need to import your private key in a real client, that you can download from the currency website.The exact method to do that will depend on the client.If there is no integrated method, you can usually fall back to the debug console and use the command “importprivkey [yourprivatekey]“.

• How can I help ?

Donation are always welcome, but you can also help us translate the website.It’s really easy.Just add “?i18nextract=LANGUAGECODE” in the end of the url (for instance http://walletgenerator.net/?i18nextract=es for Spanish).You will see at the end of the page a pre-filled javascript array ready to be translated.Translate or correct it, and send it to us the way you prefer.

• Is it safe ?

We try to make it that way ! The core of the tool, that generate the keys is 99% the same as the well reviewed bitaddress.org.We only changed it to be able to generate addresses for different crypto-currencies.

Why choose LiteBit?

We believe in trading crypto the safe, simple and human way.

How many Peercoin can you mine a day?

Based the mining hardware inputs provided, 46.97488536 Peercoin can be mined per day with a Peercoin mining hashrate of 110.00 TH/s, a block reward of 55.172653449248 PPC, and a Peercoin difficulty of 2,598,990,600.00.

• How to use a paper wallet ?

Once you have generated and printed a wallet, you can send coins to the public address, like for any wallet.Store your paper wallet securely.It contains everything that is needed to spend your funds.Consider using BIP38 to secure your paper wallet with a password.

How can I mine PeerCoin?

I was wondering how I could mine peercoin – I already have experience mining Bitcoins and Litecoins, yet I can’t seem to find any software where I can mine them – I would like to be able to mine them on my mac with a GPU, so any applications, or terminal commands would be a great help…I already have my Peercoin wallet and everything set up.I have tried CGMiner except in the recent update they completely dumped support for GPU mining.

What is Peercoin?

Peercoin seeks to be the most secure cryptocoin at the lowest cost, rewarding all users for strengthening the network by giving them a 1% annual PPC return when minting.Peercoin is the first hybrid Proof of Work and Proof of Stake coin, and the first coin to introduce Proof of Stake concept.

• Why should I make a donation ?

Donations money are used to pay our hosting service provider, but it’ll also be used to make walletgenerator.net more secure as we plan to organize a CrowdCurity campain as soon as we get enough money to pay for it.

What is Peercoin and how does it work?

Also known as PPCoin and PPC, Peercoin is a cryptocurrency which introduced the use of the proof-of-stake (PoS) method of network security.It was presented in thewhitepaper in mid-2012, written by core developers Sunny King and Scott Nadal.According to that document, Peercoin, although formally based on the core Bitcoin technology, combines PoW and PoS methods.PoW was dominant in the early stages of token generation and is now almost fully replaced with PoS.The method was developed as a response to potential security and long-term sustainability issues of a pure PoS system.

• I found a bug, what shall I do ?

You can report bugs using GitHub.You can also contact us using our Twitter account (@WalletGenerator).Just try to explain clearly what is wrong and we will try to fix the bug as soon as possible.

What do you think about the Peercoin today?

Let us know by clicking the given button.

How can I mine PeerCoin?

I was wondering how I could mine peercoin – I already have experience mining Bitcoins and Litecoins, yet I can’t seem to find any software where I can mine them – I would like to be able to mine them on my mac with a GPU, so any applications, or terminal commands would be a great help…I already have my Peercoin wallet and everything set up.I have tried CGMiner except in the recent update they completely dumped support for GPU mining.

What is Peercoin?

Peercoin seeks to be the most secure cryptocoin at the lowest cost, rewarding all users for strengthening the network by giving them a 1% annual PPC return when minting.

WHAT IS PEERCOIN MINTING?

Minting is the equivalent of mining, however it does not require any specialized hardware.It can be done on any computer, and is based on the Peercoins that you hold rather than your processing power, thereby being energy efficient.Minting helps secure the network, and is rewarded with 1% annually.

Got your Peercoin wallet ready?

To store your Peercoin in a safe and secure manner, we advise you to create your own Peercoin wallet.Your Peercoin wallet will create a Peercoin receive address which can be used to buy PPC.We have created a selection of Peercoin wallets to help you get started.

WHAT ARE ALTCOINS?

The term ‘altcoins’ is short for alternative coins.Given that Bitcoin was the first cryptocurrency to surface in the market, the other digital currencies that emerged are referred to as altcoins.

How Will the World of Finance Change in 100 Years?

Karen Karniol-Tambour, co-chief investment officer for sustainability at Bridgewater Associates; Tom Slater, head of U.S.equities and portfolio manager of the U.S.equity and long term global growth funds at Baillie Gifford; and Jerry Yang, founding partner of AME Cloud Ventures and co-founder of Yahoo discussed the future of finance in a special Barron's Roundtable event.

Is Peercoin mining still profitable?

Yes, mining Peercoin is still profitable – based on the mining hardware hashrate of 110.00 TH/s, electricity costs, and pool / maintenance fees provided.

WHY USE A BLOCKCHAIN?

Using a blockchain ensures security and manages digital relationships as part of a system of record.

How Is Peercoin Different From Bitcoin?

While Peercoin is based on Bitcoin’s framework, the two cryptocurrencies can be distinguished by their different approaches to mining.Bitcoin secures its network with a PoW system, while Peercoin is a hybrid cryptocurrency that also utilizes PoS.In fact, Peercoin was the first virtual currency to utilize PoS.

How long does it take to mine 1 Peercoin?

As of Tuesday, May 04, 2021, it would take 0.021 days to mine 1 Peercoin at
the current Peercoin difficulty level along with the mining hashrate and block reward; a Peercoin mining hashrate of 110.00 TH/s consuming 3,250.00 watts of power at $0.05 per kWh, and a block reward of 55.172653449248 PPC.

WHAT IS THE DIFFERENCE BETWEEN A BLOCKCHAIN AND A DATABASE?

There are several differences between a blockchain and a database, including the level of control.Blockchains are under a decentralized control, whereas a centralized database creates a dependent relationship between users and administrators.Users tend to prefer confidentiality, which is better achieved through a centralized database.Performance also differs, as a centralized database is able to compute information faster than blockchains.

How to use the Peercoin mining calculator?

Every aspect of our Peercoin mining calculator has been developed for miners by miners.

WHAT IS BLOCKCHAIN?

A blockchain is a digital ledger recording cryptocurrency transactions, maintaining records referred to as ‘blocks’ in a linear, chronological order.

WHAT IS DISTRIBUTED LEDGER?

A distributed ledger is a database, digitally recording transaction information using cryptography, making it secure and unforgeable.

What is Peercoin?

Peercoin (abbreviated PPC), previously known as PPCoin, is the first cryptocurrency design introducing proof-of-stake consensus as a security model, with a combined proof-of-stake/proof-of-work minting system.Peercoin is based on Bitcoin, while introducing many important innovations to cryptocurrency field including new security model, energy efficiency, better minting model and more adaptive response to rapid change in network computation power.

WHAT IS PEERCOIN?

Peercoin seeks to be the cheapest, most secure crypto-coin, by rewarding all users for strengthening the network.One of the first crypto-coin networks launched, in 2012, it has established itself as reliable.

What Is Peercoin?

Peercoin is an alternative cryptocurrency launched in August 2012 that is based on the Bitcoin framework.Like Bitcoin, Litecoin, and Dash, Peercoin stores value, offers complete anonymity, and can be sent over the internet without any central authority (such as a bank).

History of Peercoin

In 2014 for example, the NuBits project launched.

In 2020, the price can go up to $0.438.

In 2025, the price is expected to reach $2.192.