Peercoin (PPC) - a cryptocurrency with transparent inflation

Peercoin (PPC) is a cryptocurrency that was the first to introduce a solution of destroying commission for transactions through it. For what? To reduce inflation and defend my worth. How's her doing?

We are continuing the cycle of the Forex Club portal, in which we describe the most famous, largest, most controversial and the most interesting cryptocurrency projects from around the world. Today it's time for Peercoin - the cryptocurrency that was the first to throw the gauntlet Bitcoin.

Better scalability is the key to success

"New Bitcoins" we already had a dime a dozen - or rather networks and cryptocurrencies that wanted to take the place of the first and most famous cryptocurrency. PPC wanted to go this way. Admittedly, Peercoin is based on the source code Bitcoin, but was the first cryptocurrency to become a hybrid that combines a consensus algorithm Proof of Work and Proof of Stake, which allows for lower energy consumption to handle transactions while maintaining a high level of security. Most of all, however, he wanted to dethrone Bitcoin through better scalability. Hence? lower energy consumption needed to operate it.

The originators of this cryptocurrency - Sunny King and Scott Nadal - dug the first block in 2012, when Peercoin was still called Peer to Peer Coin, which was to emphasize that anyone in this network can become a node.

How Peercoin (PPC) works

If a new cryptocurrency wants to distinguish itself from Bitcoin, it must introduce other solutions. In this case, one of the most important is the lack of maximum supply. However, this causes an unlimited number of units to inflate and can cause coins to decline significantly. But PPC decided to limit this. There is a fee for each transaction. It is 0.01 PPC per KB of data, but this is not the amount that goes to the nodes as compensation. Amounts deducted for transaction fees are destroyed. The effect is simple - the more transactions, the more Peercoins are deactivated, so their total number does not increase quickly. This is to ensure that the annual inflation will not exceed 1%.

New PPC blocks are created primarily by miners, but new coins are also created thanks to stackers, i.e. people who freeze their cryptocurrencies. This is possible through the minting that anyone using PPC can do. Just freeze your units for at least 30 days. The most profit is made by "freezing" a cryptocurrency for a minimum of 90 days. If another block is produced, the funds used for this are also blocked for about 4 days. On average, minting brings 1% profit per year.

Peercoin (PPC) quotes

Despite the ambitious plans of the creators of Peercoin, the cryptocurrency has not yet managed to dethrone Bitcoin and will probably never succeed again. Currently, PPCs are available on 16 Cryptocurrency exchanges from around the world. There are 26,4 million units in trading, which as at 11.08.2020/0,30/8 are valued at USD XNUMX. This translates to a market cap of more than $ XNUMX million.

The peak of Peercoin's quotations took place on January 13.01.2018, 9,92, when $ 223,5 was paid for each unit. The capitalization then exceeded USD 2013 million. Since then, it has been steadily declining in popularity rankings, despite the fact that in XNUMX it was in the top five cryptocurrencies in terms of capitalization. Today, the daily turnover of PPC reaches only a few to several thousand USD, so there are many indications that this cryptocurrency has its best years behind it.