Peercoin The Peercoin logo Denominations Subunit 0.001 mPPC (millicoin) 0.000001 μPPC (microcoin) 0.000001 Smallest unit Plural PPC, Peercoins Symbol Ᵽ Nickname Peercoin, PPCoin Demographics Date of introduction 12 August 2012, 17:57:38 UTC User(s) International Issuance Central bank (Decentralized) None. Peercoin tokens are issued by stakeholders while the currency is regulated by a central authority through checkpointing. Valuation Inflation Limited release rate plus 1% inflation due to the proof-of-stake system.[1] Method Proof-of-stake

Peercoin, also known as PPCoin or PPC, is a peer-to-peer cryptocurrency utilizing both proof-of-stake and proof-of-work systems.

Peercoin is based on an August 2012 paper which listed the authors as Scott Nadal and Sunny King. King, who also created Primecoin, is a pseudonym.[2] The Peercoin source code is distributed under the MIT/X11 software license.

In the proof-of-stake system, new coins are generated based on the holdings of individuals. In other words, someone holding 1% of the currency will generate 1% of all proof-of-stake coin blocks. This has the effect of making a monopoly more costly, and separates the risk of a monopoly from proof-of-work mining shares.[3]

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