Peercoin is a unique cryptocurrency with an uncertain future

• currency
• peculiarities
• flaws
• taps
• well
• popularity
• opinion
• conclusion

And again we are talking about cryptocurrency, as they say, who is talking about what, and... Well, you know the continuation. On the other hand, what to do if the number of virtual currencies is growing almost every day, and people only know about a dozen. Specifically, how many names can you name? That's it. For many, things don’t go beyond Bitcoin, and those who can continue this list are very few.

But it’s not just Bitcoin, as they say. There are other digital money worth your attention, familiarity with which will not only broaden your horizons, but also, quite possibly, give rise to constructive ideas about organizing your own small business. Moreover, we are introducing you not to those developments that have ceased to be interesting even to the authors themselves, but to rather promising cryptocurrencies that have not exhausted their development potential.

For example, the subject of our conversation today is Peercoin (PPC). This crypt has had its ups and downs, but so far it has not yet found itself on the outskirts of the digital money sphere and is worth knowing.

About Peercoin currency

We are sure that very few of you know anything about Peercoin. We became convinced of this sad fact when we analyzed the number of queries in search engines regarding this virtual money. The conclusion is clear - few users are interested in Peercoin, just catastrophically few. But in vain. We will have to correct this annoying misunderstanding.

PPC cannot be called a young currency. At the end of the summer of 2022, she crossed the five-year mark. And for digital money, this is, whatever one may say, age.

The authors of the development were Scott Nadal and Sunny King, although Nadal already retired from working on Peercoin in 2013, leaving King as the sole author, responsible for both successes and failures. By the way, Sunny King is a pseudonym that hides either one developer or an entire group.

A coin was created based on the cue ball, but the authors introduced certain innovations, which set PPC apart from many similar developments and prevented it from getting lost. This digital currency is a peer-to-peer decentralized network that offers users the ability to conduct transactions via the Internet without any geographical restrictions.

There are several ways to become a PPC owner. This is mining, familiar to many, using special equipment and the less usual generation of coins using Peercoins already in the user’s account, that is, the PoW and PoS algorithms are used here simultaneously (proof of work and proof of ownership). You can also earn coins on special faucet sites.

Of the number of similarities with Bitcoin, the most significant are the general cryptocurrency mining algorithm and decentralization.

In both cases, mining is carried out using the SHA-256 algorithm, that is, your software is suitable for mining any bitcoin-based currency, and equipment running on the BTC platform can also be used to generate PPC.

As for decentralization, the similarities are very relative. Both coins are based on a peer-to-peer network and users, as expected, are equal, but in the case of Peercoin, the emission undergoes a kind of check, something like a checkpoint.

Features of the coin

Peercoin is distinguished by its simplicity and environmental friendliness of mining (it is even called the most environmentally friendly). For mining you do not need complex energy-intensive equipment; a regular PC is enough, and energy consumption is minimal.

The currency is not limited; in other words, any number of its units can be issued. In connection with this point and unlike coins with limited emission, Peercoin is provided with a one percent annual inflation rate.

PPC is well protected. Each new money must be registered at some control point, which excludes re-issuance. Many experts see this as signs of centralization (and it is) and consider it a drawback that complicates the functioning of the system. But for the average user, such security is rather a virtue.

Peercoin is not intimidated by sky-high exchange rates; its price fluctuates within reasonable limits and averages about 50 cents per unit. This is a good system for making a profit that does not require significant funds to get started.

The coin is quite common and can be used both for exchange and as a means of payment in some online stores, as well as in a number of restaurants and cafes in the United States. There is no commission at all within the system, and a purely symbolic fee is charged for making transactions. There are no problems with exchanging for regular money; many exchanges work with PPC.

This crypt ensures user anonymity, like any other. You can create any number of electronic PPC wallets without providing any personal information.

And like all cryptosystems, this system does not have a specific owner and is not subject to control by anyone. Therefore, any of your actions, be it a transfer or payment, cannot be canceled.

And finally, a feature that you will definitely like. The Peercoin system allows you to receive passive income. That is, if you managed to acquire a certain amount of this crypt, then you can calmly “retire” - the coins themselves will generate their own kind. This is a kind of “deposit”, only you don’t have to save money for a long time and painfully, your computer will mine it for you.

Disadvantages of Peercoin

In life, probably, for every barrel of honey there is a fly in the ointment, which spoils the whole barrel. Life also added a bit of ointment to our “honey barrel” called Peercoin, which significantly spoiled the beautiful picture drawn above.

Let's start with currency turnover. Many of the competing cryptocurrencies are much more popular among users than PPC, which negatively affects the turnover of the latter. It is difficult to say how this will affect her future. Peercoin may rise strongly, but it may also disappear from the scene altogether.

The price of the currency is partly related to the level of popularity. If the turnover drops even more, then a critical reduction in the price of the coin is possible, after which its issue will simply lose its meaning.

And I would also like to touch on the topic of anonymity. We wrote above that in the PPC system, as in the system of any other cryptocurrency, anonymity is guaranteed. This is partly true, but only partly. The presence of a control center to verify the authenticity of new coins puts anonymity into question.

Road map

2018:

• Increasing the OP_RETURN limit
• Relaxation of script size restrictions, allowing the use of more complex P2SH scripts. P2SH scripts are smart contracts that allow constructs similar to multi-user addresses, but in Bitcoin they have a size limit that makes them less useful.
• Zero outputs. Allows the use of zero value outputs without the usual disadvantages. This will make Peercoin more attractive to decentralized application developers.

2019:

• Transition to version 0.8
• Upgrade to a modern codebase
• Transition to version 0.9
• Entering payment channels
• Dynamic block size mechanism (to cope with future blockchain growth)

PPC faucets

This is not to say that the Internet is replete with faucets for earning Peercoin. True, there are quite a lot of them, but in reality it turns out that only a few work. The profit here, as in the case of other digital currencies, is meager. But if you have time and desire, then why not earn these pennies. Here are some of them:

1. Peer-bagi – five-minute interval between visits, reward 12,500 coins.
2. Peer-keran - absolutely everything is the same as on the previous faucet, the output in both cases is on FaucetHub.
3. Peer-fau-too – payments are hourly, their size is not encouraging (2500-6000 coins).
4. Peer-coin-info – pays, like the previous faucet, every hour. The reward size is impressive - 25,000-50,000 PPC, but there are concerns about how long the faucet will remain solvent.

These are, of course, not all working cranes. If you wish, you can find several more bona fide resources.

Where can I buy?

Peercoin is traded on the following exchanges:

Now up, now down - Peercoin rate jumps and their reasons

Immediately after entering a number of crypto exchanges (April 2013), PPC was estimated at 40 cents, but by the summer the price began to decline and in the fall it dropped to a measly 12-16 North American “kopecks.” The reaction of users who owned coins was not long in coming - they began to sell their stocks urgently.

However, in November there was a sharp jump in value, and by the end of the month it had already reached more than $7. Capitalization increased accordingly (to more than $153 million). These events caused great joy in the ranks of those participants in the system who at one time purchased PPC even before it entered the exchange at the rate of 1 BTC = 10,000 PPC. For each bitcoin invested, they received about 70 thousand dollars in profit.

But the rise turned out to be short-lived, and then a decline began again, which lasted throughout 2014 and brought Peercoin to its original position - 42 cents per coin. The following year, 2015, the cost of PPC remained at approximately the same level, although not without minor upward spurts, which revived optimism in the hearts of its supporters.

Where to store?

You can store coins on an official cold wallet, for such operating systems as:

• Windows
• Linux
• Mac

You can buy these wallets from the official website.

You can also store coins in a paper wallet

You can also store coins on third-party and hardware wallets:

https://www.ledger.com/ https://www.coinomi.com/en/ https://www.cryptonator.com/ https://uberpay.io/ https://www.coinspot.com. au/ https://www.coinvault.io/ https://holytransaction.com/ https://magnumwallet.co/

You can also store coins directly on the exchange where they are traded.

What is the popularity of Peercoin based on?

At first, the community's attention was attracted by the authors' new approach to the technological solution to the basis of the system. After all, the PoS algorithm was used here for the first time, allowing you to receive income from storing coins on your balance sheet. PPC mining is carried out more smoothly than cue ball mining, there are no sharp jumps, which makes the result quite predictable. Because of this, the miners’ reward decreases gradually, and not in spurts.

With a similar encryption algorithm, the energy consumption of Peercoin is much more economical than Bitcoin, and transactions are much faster and cheaper. Without such fierce competition in the crypto world, who knows what the future of Peercoin would be like. It is quite possible that the characteristics would bring PPC to the forefront.

But, as we have repeatedly repeated, this market is developing rapidly. And new currencies often surpass earlier developments in a number of characteristics, thereby relegating them to the background. This happened in our case too. The DASH crypt appeared, which gave users real anonymity, Dogecoin surpassed it in the speed and cheapness of transactions, and the PoS technology, which was the main advantage of Peercoin, began to be used so widely that it was already taken for granted. These are dark times for PPC.

Fortunately, the developers did not abandon their brainchild. They continue to work on improving it, constantly updating the program code and preparing many technological surprises. This keeps the currency afloat and fuels user interest. It is possible that we still have to watch the growth of the Peercoin rate.

What does the company/project do?

Peercoin is a Blockchain-based platform designed to quickly send and receive payments. The main goal of the developers was to create a decentralized payment system that would provide high anonymity and security. The Peercoin cryptocurrency operating in the platform is very similar to Bitcoin, as it shares most of the source code and technical implementation with it. However, PPC has several important features.

Peercoin is the world's first Proof of Stake cryptocurrency

Expert opinion on the future of Peercoin

On the one hand, this digital currency is a noticeable phenomenon on the crypto market. The programmers have created something truly unique. However, they stumbled on cheap emissions. It was she who ruined the system, splashing out on the market a large number of PPCs that were not in demand. The participants in the system are miners, and it is simply impossible to say anything definite about its profitability with such a low turnover.

Naturally, those users who have it in their accounts hope for the revival of the currency. And almost no one else, although attempts by developers to revive their former popularity give hope, albeit weak.

To bring Peercoin out of oblivion, active measures to promote it are necessary. This is especially true for exchange operations, which allow increasing the number of transactions with third-party payment systems. If this does not happen and there is no interest in purchasing coins, its price will remain low and unattractive for investors. This means that there is a real threat of the complete disappearance of this digital currency.

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.