/r/peercoin
Peercoin is an efficient and sustainable, green cryptocurrency based on continuous limited inflation. It is the original pioneer of Proof of Stake.
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Peercoin is a community funded project.
What is Peercoin?
Peercoin is an efficient and sustainable, green cryptocurrency based on continuous limited inflation. It is the original pioneer of Proof of Stake.
Overview
- Launch & Initial Distribution
- Launch: The Peercoin blockchain was originally launched on August 19th, 2012 by developers Sunny King and Scott Nadal, with no initial coin offering, premine, or developer tax. The project is completely open source and community driven.
- Initial Distribution: Peercoin was the first of its kind, a blockchain secured by Proof-of-Stake (PoS) consensus, however Proof-of-Work (PoW) mining was originally used to fairly distribute the initial coin supply. Although it is decreasing in importance over time, PoW mining continues to provide a trickle of fresh coins. This has the effect of slowly decentralizing the blockchain over time by getting coins into the hands of new owners who can help secure the network via PoS minting.
- Time as a Scarce Resource: The key innovation of Peercoin is its invention of PoS. PoW blockchains are secured by proving the consumption of a costly resource: electricity. PoS replaces this expensive security protocol by using an alternative scarce resource: time. The older your coins are, the more time they’ve accumulated sitting in your wallet, which gives them more power to participate in securing the network.
- Security with Low Power Devices: With PoS, you only need enough power to run your computer or laptop. This is possible because the network is secured through ownership of peercoins and the time they sit idle in your wallet, not by the wasteful and costly operation of mining equipment. This efficiency helps grow the number of security providers by making it more affordable to participate. Almost a decade after its launch, Peercoin continues to prove that energy efficient blockchain security is possible.
- Aligning Security with Ownership: In PoW networks, miners can easily jump between whichever network is more profitable to mine, without any loyalty. In Peercoin however, the responsibility for security falls to the coin owners themselves, guaranteeing stakeholders have a vested interest in maintaining the network’s security.
- Geographical Decentralization: PoW mining concentrates power where electricity is cheapest, which compromises security, making it easier for local governments to target miners. By contrast, PoS minting can be done anywhere.
- Price Independent Security: Unlike PoW miners, who rely on a positive asset price to cover their costs of operation and remain profitable, Peercoin minters benefit from the efficiency and lower costs of PoS. As a result, PoS minters are independent of price and can always secure the network with little expense to them.
- User Governance: Protocol rules are governed collectively by Peercoin’s users, making for a more democratic network.
- Continuous Limited Inflation: Many in crypto have a negative view toward inflation, resulting in the popularization of “deflationary,” fixed-supply economic models. At Peercoin however, inflation is viewed as a necessary element that contributes to the proper functioning of an economy. The problem stems from centrally controlled inflation, which can be excessive due to manipulation. The solution is not eliminating inflation entirely, but limiting and decentralizing it. This is the principle at the heart of Peercoin’s economic model, which targets an annual supply increase of around 2-3%. This mild inflation encourages circulation by providing a regulated and continuous stream of new coins into the hands of decentralized participants. As a counterbalance, transaction fees are burned, which acts as a downward force on the supply.
- Permanent Subsidy This annual inflation allows the Peercoin network to subsidize block producers with new coins, completely eliminating their reliance on transaction fees. The subsidy provides a permanent incentive for stakeholders to continuously produce new blocks. Personal minting rewards can range anywhere from 3% for periodic minters to 5% for continuous minters.
- Immutable Record Keeping: At its essence, a blockchain is a fully verifiable distributed public ledger which records data in a manner that prevents alterations. This tamper-proof system ensures stored data is immutable and requires less trust from users than third party intermediaries. The blockchain’s strength is primarily in permanent record keeping, rather than being used as a tool for daily payments. Transactions on the chain can be slow and expensive. This is solved with vertical and horizontal scaling technology, which offloads transactions onto separate off-chain networks built for high capacity processing. The blockchain plays the role of settlement layer by permanently recording the final result of these off-chain transactions.
- Built for Trustless Settlement: Blockchains that draw their security from transaction fees however are directly competing with the node operators of these off-chain networks. Fighting with off-chain nodes over the same fees is an incompatibility that will only starve block producers of potential revenue, resulting in reduced security for the blockchain. Since Peercoin is secured without any reliance on transaction fees, it is in complete alignment with off-chain networks, making it a better alternative to serve the role of a trustless settlement layer.
- Full details can be found here. The following is a brief summary of Peercoin's 2021 roadmap.
- Core Development
- v0.10 - Codename: Scarab:
- New codebase (based on bitcoin-core 0.20)
- v0.11 - Codename: Tardigrade:
- RFC-0012 (Cold minting)
- RFC-0014 (Removal of the transaction timestamp for non-coinstake transactions)
- RFC-0020 (Proof-of-Work Difficulty on PoS Blocks)
- Non-Core Development
- Peercoin <-> Ethereum Bridge
- Android/iOS Mobile Apps
- Rosetta Integration
- Donate: These developments are sponsored by the Peercoin Foundation, which in turn is sponsored by generous community donations. PPC, BTC, and fiat can be donated at peercoin.net/foundation.
Resources
A more comprehensive list of resources can be found in the dropdown menus above.
News
Open Letter from Peercoin Project Lead
Peercoin Web Wallet Now in Beta Testing
Introduction to Multisig Minting
Wrapmeister Bridge Introduction
Media
Podcast - Web3 Compass Interviews Peerchemist
Podcast - Web 3.0 and NFTs | CCS Ep #2
/r/peercoin
9,489 Subscribers
How to exchange coins
My sister just sent me some of these coins and wondering if there is any way to sell them or exchange them. I just have them in a peercoin wallet atm
12:23 UTC
PPC mining at Zergpool.com
You can now mine Peercoin at autoexchange mining pool Zergpool.com /r/zergpool at 0.5% fee.
Please use following configuration examples for different mining options
Option 1 Auto coin switch mining by profitability within algorithm with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC
Option 2 Direct coin mining with payout to coin wallet -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURPPCWALLET> -p c=PPC,mc=PPC
Option 3 Direct coin mining with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC,mc=PPC
Please note mc stands for mining coin symbol, c stand for payout coin symbol
SOLO and PARTY mining
Set m=solo, or m=party.YourPartyPassword to your password field to use this feature. No extra fees.
Autoexchange to BTC, LTC, DASH, DOGE, ETH, BCH, USDT or any other currency we mine
Happy mining, cheers pinpin
09:07 UTC
PPC mining at Zergpool.com
You can now mine Peercoin at autoexchange mining pool Zergpool.com /r/zergpool at 0.5% fee.
Please use following configuration examples for different mining options
Option 1 Auto coin switch mining by profitability within algorithm with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC
Option 2 Direct coin mining with payout to coin wallet -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURPPCWALLET> -p c=PPC,mc=PPC
Option 3 Direct coin mining with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC,mc=PPC
Please note mc stands for mining coin symbol, c stand for payout coin symbol
SOLO and PARTY mining
Set m=solo, or m=party.YourPartyPassword to your password field to use this feature. No extra fees.
Autoexchange to BTC, LTC, DASH, DOGE, ETH, BCH, USDT or any other currency we mine
Happy mining, cheers pinpin
09:07 UTC
The final video about the creation of House of Peercoin
17:05 UTC
For those asking how to obtain Peercoin, here is what you need to know. There are two versions, real peercoin (PPC) and wrapped peercoin (wPPC)
PPC is the native coin on the Peercoin blockchain, running now for 11.5 years. You can obtain PPC from the following exchanges: https://peercoin.net/resources#exchanges
wPPC is more recent, a synthetic Peercoin-backed token that exists on EVM blockchains like Ethereum and Polygon. It can be traded on Uniswap for example. wPPC is created when peercoin is wrapped using https://bridge.peercoin.net and destroyed as peercoins are unwrapped. You can obtain wPPC from here: https://peercoin.net/resources#wrapped-ppc
The contract addresses for wrapped peercoin (wPPC) are as follows:
Ethereum: 0x044d078F1c86508e13328842Cc75AC021B272958
Polygon: 0x91E7E32C710661C44ae44D10Aa86135d91C3Ed65
12:49 UTC
Mexc Exchange Announces Peercoin Listing
10:21 UTC
15:44 UTC
I used to do paper wallet drops in real life, most of them unclaimed :.(
22:48 UTC
Slex.io Opens PPC/USDC Market (USA traders supported up to $15k without KYC)
As part of its mission to support the ecosystem, the Peercoin Foundation has covered the costs of integrating PPC on Slex.io, an exchange based in Lithuania (EU), which is managed by the same group that manages Slavi wallet (which also supports PPC). The pair we've asked for is PPC/USDC.
This listing is intended to help traders in the USA, who were blocked from Bittrex after the company stopped supporting trading by US customers. Slex.io currently supports depositing up to $15k using an unverified account without going through KYC.
Once your account reaches the deposit limit, basic verification is required to deposit more (but not to trade). A new account can be registered easily using only an email address (phone number not required).
Credit card deposits are available, and SEPA deposits will be available soon. The new market can be found here: https://slex.io/trade/ppcusdc
Retweet
https://x.com/peercoinppc/status/1716807716637638704?s=46&t=gKHcbejKPOEI-WfLwNPjlg
13:26 UTC
Serious question: How did PPC turn into such a piece of shit?
I am an early adopter and have had PPC since the first days. We hit $8 at one point, but I held out thinking that this was actually a better coin. Here we are 11+ years later sitting at ~$0.28.
Minting has yielded fuck-all over the 11 years. Proof of stake is just a gimmick at best and doesn't provide any incentive or added value except as a talking point. The wallet is annoying. There's barely any adoption worth mentioning. "Bro"-coins outperformed it time and time again.
Seriously, what keeps you going? I would sell except it doesn't cost me shit to keep it other than the idiotic amount that I spent hoping that this would actually be a store of value. A more accurate analog is that it was a black hole into which I threw good money after bad.
01:58 UTC
PPC mining at Zergpool.com
You can now mine Peercoin at autoexchange mining pool Zergpool.com /r/zergpool at 0.5% fee.
Please use following configuration examples for different mining options
Option 1 Auto coin switch mining by profitability within algorithm with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC
Option 2 Direct coin mining with payout to coin wallet -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURPPCWALLET> -p c=PPC,mc=PPC
Option 3 Direct coin mining with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC,mc=PPC
Please note mc stands for mining coin symbol, c stand for payout coin symbol
SOLO and PARTY mining
Set m=solo, or m=party.YourPartyPassword to your password field to use this feature. No extra fees.
Autoexchange to BTC, LTC, DASH, DOGE, ETH, BCH, USDT or any other currency we mine
Happy mining, cheers pinpin
08:07 UTC
Peercoin turns eleven years old today, happy birthday!
18:20 UTC
PPC mining at Zergpool.com
You can now mine Peercoin at autoexchange mining pool Zergpool.com /r/zergpool at 0.5% fee.
Please use following configuration examples for different mining options
Option 1 Auto coin switch mining by profitability within algorithm with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC
Option 2 Direct coin mining with payout to coin wallet -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURPPCWALLET> -p c=PPC,mc=PPC
Option 3 Direct coin mining with autoexchange to specified coin wallet(BTC in example below) -o stratum+tcp://sha256.mine.zergpool.com:3333 -u <YOURBTCWALLET> -p c=BTC,mc=PPC
Please note mc stands for mining coin symbol, c stand for payout coin symbol
SOLO and PARTY mining
Set m=solo, or m=party.YourPartyPassword to your password field to use this feature. No extra fees.
Autoexchange to BTC, LTC, DASH, DOGE, ETH, BCH, USDT or any other currency we mine
Happy mining, cheers pinpin
08:07 UTC
SunnyKing still remains anonymous correct? And if so does that make Peercoin the only other coin besides Bitcoin whose creator remained anon?
07:01 UTC