PPCoin, PPC for short, its name comes from the meaning of P2P currency, that is, peer-to-peer currency, so it is translated as peer currency. PPC was released in August 2012. The R&D team of PPC and the R&D team of XPM are the same team, with strong technical strength, which is recognized by the industry. PPC uses the SHA256 algorithm, which is improved and optimized on the basis of BTC. The greatest contribution of PPC is that it created the POS interest system to prevent deflation. Many subsequent altcoins have followed the concept of PPC. PPC generates 1 block every 10 minutes. Initially, each block can produce 2070 PPC, but as of press time, the block output of PPC has dropped to about 250. PPC is a very popular altcoin with about 20 times the number of miners than TRC and about 1/60 of Bitcoin. Currently (October 12, 2013), the price of each PPC is about 2.4 yuan, and the price of PPC has increased by more than 100% in the past month, which is impressive.

Project Features

1. Efficient and secure
Peercoin (PPC) was first launched in 2012, making it one of the earliest pioneering blockchains. The key innovation of Peercoin is its invention of proof-of-stake, an alternative consensus protocol to Bitcoin's proof-of-work.

Proof-of-work blockchains are secured by proving the consumption of an expensive finite resource (electricity). Proof of Stake replaces this expensive security protocol by using a spare scarce resource (time).

Due to the cost-effectiveness of Proof-of-Stake's time-based consensus rules, Peercoin is able to allow any networked computer to participate in the blockchain's security process. This efficiency strengthens Peercoin by increasing the number of security providers and ensuring that security can be maintained over time.

2. User Governance
In Peercoin, coin owners (stakeholders) are the ones who exert influence on the network, produce new blocks and secure the chain. Peercoin stakeholders collectively own the blockchain and collectively decide its future through protocol voting.

Voting is done the same way Peercoin is secured, through a process called proof-of-stake minting. Stakeholders participate in minting simply by installing the version of Peercoin they support, loading PPCs to their wallets, and holding them while the Peercoin protocol occasionally selects them to mint the next block in the chain. Every minted block rewards stakeholders with new PPC and voting.

This makes Peercoin the first blockchain to allow its protocol rules to be governed directly by its users, making the network more decentralized, democratic, and easily secured by people around the world.

3. Building additional layers
Given that the blockchain is immutable in nature and all recorded data is permanently stored, chain bloat occurs at higher levels of usage becomes an escalation problem, which compromises the security and ability of the network to scale.

In order to preserve the trustless security of the blockchain and ensure its ability to scale to levels of global use, the inventors of Peercoin customized the blockchain and its economy to fulfill the specific role of a base layer settlement network.

This role focuses Peercoin's development on modularity, keeping the protocol simple and secure with as few features as possible, while maintaining the blockchain as a stable foundation upon which any number of additional layers can be built .

4. Fair Distribution
A cryptocurrency must have a sufficiently wide distribution to ensure that the total coin supply is not concentrated in too few hands.

However, there is a problem with blockchains that run purely on proof-of-stake because there is no easy way to fairly distribute the initial token supply. In a pure proof-of-stake blockchain network, the entire coin supply is typically created by the project founders, who then choose which individuals own a stake. This distribution method usually ends with a highly centralized coin supply network.

To solve this problem, Peercoin uses Proof of Stake to secure the network and Proof of Work for distribution. Proof-of-work miners are rewarded with new PPC generated by the network. The newly mined PPC is then sold by miners on exchanges for a profit and bought by new stakeholders who can use it to mint blocks by participating in the proof-of-stake consensus.

Thus, while Proof-of-Stake provides security directly, Proof-of-Work aims to do so indirectly by strengthening the decentralization of the network by broadly distributing PPC to new potential miners.

5. Reliable value storage
Efficiency, sustainability, user governance, scalability and fair distribution through modularization. All of these qualities combine to form a long-focused blockchain network that primarily focuses on maximizing decentralization.

This primary focus is to maintain the trustless, immutable and censorship-resistant nature of Peercoin, so that it can always be relied upon to fulfill its core role as a distributed mechanism for the secure storage of all types of value.

This value can be anything from fiat wealth stored in the PPC to data stored on-chain in the form of tokens, records or contracts. Regardless of the type of value stored, Peercoin was built with fundamentals in mind to ensure your data remains secure at all times.

Related Links:
https://docs.peercoin.net/#/frequently-asked-questions