Peercoin, previously known as PPCoin and Peer-to-Peer Coin is the first cryptocurrency based on an implementation of a combined proof-of-stake (PoS)/proof-of-work system (PoW). Peercoin was created by software developer Sunny King (who later developed the cryptocurrency Primecoin) in August 2012. Peercoin was inspired by Bitcoin, and it shares much of the source code and technical implementation of Bitcoin. The Peercoin source code is distributed under the MIT/X11 software license.
Peercoin is the third-largest minable cryptocurrency by market capitalization. Peercoin has a marketcap of $100 million USD as of Feb 8, 2014. Unlike Bitcoin, Namecoin, and Litecoin, Peercoin does not have a hard limit on the number of possible coins, but is designed to eventually attain an annual inflation rate of 1 percent. This feature, along with increased energy efficiency, aim to allow for greater long-term scalability… CONTINUE