Peercoin is a peer-to-peer cryptocurrency introduced in 2012. It was the first digital currency to use the proof of stake security model. Peercoin is based on the code of Bitcoin and is also using a proof of work (PoW) system.
Peercoin challenged Bitcoin in relation to the availability of mining. In addition to mining, new coins can also be generated through minting. In minting, coins are created based on the number of coins that the user already has. Peercoins can be minted on any computer without special equipment.
Low transaction fee (0.01 PPC) makes the coin attractive for merchants. Transactions are confirmed within 10 minutes on average.
The advantages of using Peercoin:
- Peercoin may earn miners up to 1% of an annual reward.
- The process of minting Peercoins requires a very low computational burden making the coin cost-competitive.
- The transaction fee is only 0.01 PPC/kB.
Learn more about Peercoin.