Cryptocurrency Peercoin (PPC): review, prospects, forecasts for 2022

Peercoin (PPC) is a decentralized payment system that operates through a hybrid organization of issuance - through the execution of work (Proof-of-work) or the calculation of shares (Proof-of-stake).

Contents:

• History of the emergence of cryptocurrency
• Main advantages of PeerCoin
• PPC Network Security
• Crypto coin capitalization, price and trend
• How to create a PeerCoin wallet and how to store it
• How to mine Peercoin
• How and where to buy PPC
• Opinion of world experts and PPC forecasts

What is peercoin?

In fact, the Peercoin (PPC) network is a medium for the secure transfer of any digital assets. The coin has the same algorithm as Bitcoin SHA-256, as well as a similar decentralization principle.

But there are also significant differences that make Peercoin a pioneer in the following areas:

• PPC uses PoS security method. It was on this coin that this algorithm was tested;
• The emission of PPC is not limited, since the protection of PoS without PoW requires a constant increase in the number of coins to pay dividends to the holder, just like Primecoin.

Project roadmap

The roadmap provides for the following stages of development:

• First-third quarter of 2022 - optimization of the block structure and network protocol.
• Fourth quarter of 2022 – integration of the multi-signature function into the client application (version 0.7 update).
• First and second quarters of 2022 – release of update version 0.8.
• Fourth quarter 2022 – third quarter 2022 – integration of payment channel technology, a mechanism for dynamically changing the size of blocks.

Advantages

Most of the described advantages of the Peercoin coin are now being massively copied and improved by other coins, but understanding them is important for assessing the prospects of PPC in the future:

• The above-mentioned Proof-of-Stake coin protection algorithm. The advantage here was long-term cooperation between the environment and clients. In 2013, only Peercoin implemented such a principle;
• Environmentally friendly. It again lies in the principle of protection, since it does not require energy consumption, as well as large financial expenses for mining equipment and other related ones;
• The futility of the attack. To penetrate the network, an attacker will need to own more than 51% of the coins, at least the full reporting period for paying dividends (3 months). Collecting such a volume of coins in one wallet is unprofitable and cannot be covered by the benefits of the invasion.

Peercoin

PPC Network Security

For developers of any cryptocurrency, it is very important to take care of the safety of their users and protect the network from various types of hacker attacks. Peercoin is immune to both Selfish Mining attacks and the famous 51% algorithm that attacked some cryptocurrencies in 2014.

After the past attacks, cryptocurrency has become a solution for many users who care about security.

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Flaws

As everywhere else, they are present:

• Low popularity. This is a key problem that developers are looking for a solution to. The endless emission without increasing complexity makes investments in the coin pointless, because its price rarely rises from the average level;
• There is no specific price. The course is constantly stormy in different directions, and the extreme marks of the peak and bottom can vary significantly. Unpredictability and the inability to fix the price of a specific coin discourage novice traders from investing in peercoin (PPC);
• No anonymity. Bitcoin has given the world the ability to make purchases and transfers anonymously. Yes, this has become a topic for gossip and rumors, especially on the darknet. However, the realities of modern society make the possibility of anonymous transactions necessary due to total control over network users. The Peercoin cryptocurrency does not provide anonymity, which entails the unwillingness of investors to reveal their assets to those who monitor such actions;
• Low interest rate on PoS protocol. It is only 1% per annum, which is at maximum inflation. The 5% rate set by the developers is already losing all meaning, just like the sib cryptocurrency.

As we can see, the revolutionary nature of the security protocol has resulted in serious shortcomings in terms of the strategic development and marketing component of the coin, which dooms it to a rather sluggish existence, but still an existence. The fifth year anniversary is no joke for cryptocurrency.

How to create a PeerCoin wallet and how to store it

You can create an electronic wallet for storing PPC coins on the official website (which, by the way, has been translated into Russian).

Step 1. Choose who we are: beginners, investors, traders, miners or developers. Let's start with "Novichok". You must click “Start”.

Step 2. To download the wallet, go to the download page (hyperlink under the folder image)

Step 3. Select the operating system: Mac OS, Windows (32 or 62 bit), Linux

Step 4: Installation takes a few minutes. The program does not take up much space on the computer.

Step 5. The installation is complete, no complicated actions were required from us. We open the program, which shows a menu where you can see your current balance, the ability to send coins to other users, the wallet address (to which other users can send you coins) and transaction history.

Interestingly, during the entire process we are not asked to register. This is true because the wallet is completely anonymous.

Users online say that this is one of the simplest wallets that downloads quickly and does not require much effort.

A very interesting feature of the Peercoin cryptocurrency is a system that is somewhat reminiscent of a deposit in a bank. When stored in the user's account, the coin multiplies. It was this function that saved the cryptocurrency in the early stages, attracting the interest of users. So, for long-term storage (from 90 days) you can get 1% per annum. The more funds in the account, as well as the greater the movement on the account, the greater the profit will be.

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Exchanges trading peercoin

The age of the coin and the fact that despite the obvious difficulties that it is experiencing, the developers are constantly improving and updating it in the hope of greater interest, have led to the fact that the coin is traded on a large number of trading and general platforms. The peercoin rate, trading volumes, and volatility are not too high, and many younger coins easily outperform the old-timers, but the chart shows high activity recently associated with new statements from the coin developers.

Platforms where Peercoin is traded:

• Livecoin.net;
• Yobit.io;
• Hitbtc.com;
• Bluetrade.com;
• Cryptopia.co.nz;
• Bx.in.th;
• Bittrex.com;
• Bter.com;
• Ccedk.com;
• Novaexchange.com;
• Poloniex.com;
• Therocktrading.com;
• Tuxexchange.com;
• Wex.nz.

Please note that exchange wallets do not provide interest for holding a PPC asset as an investment. If you decide to trade Peercoin against the dollar or against the ruble as a speculative instrument, holding the coin on the exchange makes sense. In other situations, it is much more profitable to send it to Peecroin Wallet and receive small, but still interest.

History of the emergence of cryptocurrency

In August 2012, programmers Scott Nadal and Sunny King created a peer-to-peer payment system.

Since 2013, only Sunny King has worked on the project, to whom the partner assigned the project. According to some reports, this “personality” is the pseudonym of one or more IT specialists.

The platform is based on Bitcoin code.

Despite the fact that the Peercoin cryptocurrency has adopted certain features of the famous giant, it has a large number of individual features that investors greatly value.

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Exchangers for withdrawal

Not all trading platforms covered above have a PPC to fiat pairing. For traders and coin holders who want to withdraw funds directly to a payment card or, at least, to an electronic wallet, a small but still number of exchange machines offers their services:

• YChanger;
• ATM;
• ProstoCash;
• Changer.

Also, do not forget that many trading platforms provide options for exchanging cryptocurrencies for fiat and vice versa, in addition to direct trading. Study exchange offers.

How and where to buy PPC

The input of PPC coins is carried out in two ways: using mining and as a result of generating coins that are already in the wallet.

You can buy PeerCoin in the classic way, through exchanges.

For the most part, exchanges do not provide direct purchase of peercoin through bank cards or transfers, but almost all work through Bitcoin.

To purchase Peercoin you need to purchase BTC coins.

Well-known services work with Peercoin

Mining Peercoin

As you managed to understand from the first part of the material, Peercoin mining using the computing power of processors or video cards is not carried out, since the PoS algorithm excludes it in principle.

At the very beginning of the project, the PPC coin was available for mining with computing power, but soon the protocol was radically changed.

In order to earn coins, you just need to keep them in your wallet and receive a percentage of the number of coins held.

Opening a Peercoin wallet is not difficult even for a novice computer user. The only thing you should pay special attention to are the security parameters that you need to understand and follow when working with your wallet. Restoring access is a rather complicated procedure.

Features and functionality

Peercoin is based on a modified Bitcoin blockchain using the PoW algorithm with the SHA-256 hash function, which adds an additional proof-of-stake (PoS) algorithm, providing protection against a 51% attack and improving the energy efficiency of the network. It has the following technical features:

• The system functions as a peer-to-peer network with peer network nodes; it also includes checkpoints that check the correctness of the blocks found.
• The cost of transactions is 0.01 PPC per 1 kilobyte, which is burned to compensate for the inflation of a currency that does not have emission restrictions.
• The average block size is 785 bytes, creation time is 10 minutes.
• Transaction confirmation time is 6 blocks (1 hour).
• Due to the use of the PoS algorithm, the operation of the Peercoin blockchain is more energy efficient than Bitcoin, but less efficient in comparison with cryptocurrencies using modern algorithms.
• The network complexity is recalculated using the PoW algorithm every block.
• The reward for finding a block is 38.8 coins.
• The network hashrate is 37 petahashes per second.
• Blockchain size is 0.79 gigabytes.

Despite its long existence, Peercoin was unable to significantly improve its functionality and demonstrate advantages over other cryptocurrencies, so its popularity remains low.

Peercoin faucets

The developers want to increase the low popularity of the coin and use all possible methods to do this. Peercoin faucets are a fairly effective way to connect new users to a coin not only as a free asset, but also as a reader of news about the chosen coin and direction in general. The number of operating peercoin faucets turned out to be unexpectedly large; for greater convenience, we have summarized them in a small table.

As you can see, most faucets give out coins with high frequency. By the way, almost all faucets provide bonuses of up to 50% for each payment, so you should study the conditions for each project in order to get the maximum from it. You can withdraw through other cryptocurrencies, for example, the price of Nano (NANO) is much more profitable.

For greater convenience, it is proposed to collect drops from the faucets on the Faucethub.io service, and from there, after accumulating a significant amount, transfer them to exchange accounts or a private wallet.

Microwallet Faucethub

Development prospects

The Peercoin project has many competitive cryptocurrency platforms, with great development prospects due to the use of modern technologies.

The disadvantage of this cryptocurrency is the use of a control center for verifying the authenticity of coins, which does not comply with existing standards and discourages potential users from using PPC.

The daily trading volumes of this asset are quite small, and the number of pools for mining this coin in 2022 has decreased significantly, which indicates the low popularity of PPC and lack of faith in the future of the project.

Based on the low competitiveness of the Peercoin cryptocurrency asset, there are practically no compelling reasons to predict its further growth.

User reviews about the PPC system

The programmers managed to create a real giant in the cryptographic currency market. However, cheap emissions have become detrimental to the system. Now there are a huge number of coins on the market that are not in demand. According to reviews, the main participants in Peercoin are only miners, but it is difficult to assess the profitability of a system with such a low turnover.

For Peercoin to revive again, as in 2014, it is necessary to actively promote the currency in exchangers to increase the number of transactions with third-party electronic payment systems. While there is no interest in purchasing foreign currency, its value will remain at a low level, so investing in PPC is still hopeless. More than half of users believe that the system will not be revived and will disappear from the market in the near future.

Instructions for purchasing Peercoin

Perhaps some of our readers are newbies and have no idea how cryptocurrencies are bought at all. That's why we've put together a simple step-by-step plan. Let's show with an example how to buy Peercoins on the YoBit exchange:

1. After regular registration on the exchange, you need to top up your internal account. The easiest way is to deposit dollars; to do this, in the wallets section, click plus. There are many ways:

1. Then enter PPC in the sidebar to find the currency pair you need:

1. Forms for buying and selling coins will open. Enter the quantity and price at which you would like to purchase Peercoins. This is how requests for exchange with other users are created:

1. If it’s difficult to decide or you don’t want to wait, choose offers from other exchange users. They are available in order lists:

Decide for yourself how to trade, but keep in mind that with unfavorable conditions, it is unlikely that anyone will agree to give you their coins.

Peercoin (PPC) price history

Initially, the coin cost 40 cents, but in 2013 its value rose to $7, which became a historical high and allowed investors who bought the coin at the first stage to earn substantial amounts. Throughout 2014, the coin rate went down and returned to 40 cents in 2015. Peercoin (PPC) price chart

The price fell until April 29, 2022. By the end of June it increased from $1.2 to $3.14. From December 2022 to January, the price continued to rise, and on January 15, 2022 it reached $8.07. But after the growth, the coin’s rate never stabilized. Today PPC costs $0.233410.

Peercoin (PPC) Price Prediction for 2020-2022 and 2025

Peercoin can be considered a worthy representative of the cryptocurrency industry. According to professional analysts, the likelihood of its revival is quite high. But for this, the coin must be promoted on exchanges. Peercoin's decentralized governance and voting models allow the project to maintain technological growth and exist independently of the founders.

The decline in interest in this currency may be a temporary phenomenon that is worth taking advantage of. Now let's move on to the Peercoin price forecast for the next few years.

#1. Bearish price forecast from WalletInvestor for 2020-2025

Peercoin is a risky and unreliable investment for 1 year. The PPC price could drop by almost 90% from $0.0274 to $0.0288 . Judging by WalletInvestor's forecast, the price of Peercoin will not increase in the near future. In 2022, the cost could reach $0.438 , and in 2025, possibly up to $2.192 .

#2. Forecast from TradingBeasts for 2020-2022

This year the rate is unlikely to change much. The coin will cost $0.429 . The following development is possible:

• In 2022, on Wed. $0.534
• In 2022, on Wed. $0.659

#3. PPC price forecast from CryptoGround for 2020-2024

This year the price will change by 85%: 1 PPC will be equal to $0.5435 . By the end of 2024, the rate may change significantly: an increase to $6.03 .

#4. Price forecast from DigitalCoinPrice for 2020-2025

Judging by the data from this resource, the price will double within a year and amount to $0.662 . In 2025, the cost of PPC will reach $1.04 .