How is Peercoin Stacking Up Against its Peers?
Peercoin (PPC) currently ranks third in market cap among digital currencies, behind Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Litecoin. There are currently 21 million peercoins in circulation, each valued at $6 and providing for a total market cap of $126 million.
According to peercoin.net, Peercoin combines the cryptography concepts successfully employed by Bitcoin but without many of the drawbacks. Unlike Bitcoin which solely relies upon proof-of-work methodology, Peercoin combines both Proof-of-Work (PoW) Proof-of-Work (PoW) Proof-of-Work (PoW) is a term that describes a type of consensus algorithm, which constitutes a process that is used to reach an agreement on a single data value. PoW helps deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the si Proof-of-Work (PoW) is a term that describes a type of consensus algorithm, which constitutes a process that is used to reach an agreement on a single data value. PoW helps deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the si Read this Term) and proof-of-stake (POS) systems. POW is only necessary for the original minting of a peercoin. The long-term maintenance of network security, however, depends solely upon POS.
The advantages are two-fold: First, the integrity of the system is not subject to mining power. It is therefore not susceptible to "selfish miner" or "51%" attacks. Instead, a prospective attacker would have to accomplish the near impossible feat of owning 51% of the currency.
In addition, the total cost of mining to the "peercoin economy" is far lower, as it does not entail hardware or energy intensive maintenance of the network.
According to coinwarz.com, Peercoin indeed ranks ahead of Bitcoin in terms of mining profitability, albeit by only one spot. Both currencies therefore are not profitable to mine for the majority of users, with BTC costing a net of $0.94 to generate per day vs $0.92 for PPC.
PPC has traded significantly vs BTC, but has come off recent of highs of 0.01 BTC ($9.20) to hover near 0.0075 BTC ($6.90) since the start of 2014. If its core design indeed functions as is claimed, it will remain resilient in the face of recent 51% scares that have shaken BTC value.
Peercoin (PPC) currently ranks third in market cap among digital currencies, behind Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Litecoin. There are currently 21 million peercoins in circulation, each valued at $6 and providing for a total market cap of $126 million.
According to peercoin.net, Peercoin combines the cryptography concepts successfully employed by Bitcoin but without many of the drawbacks. Unlike Bitcoin which solely relies upon proof-of-work methodology, Peercoin combines both Proof-of-Work (PoW) Proof-of-Work (PoW) Proof-of-Work (PoW) is a term that describes a type of consensus algorithm, which constitutes a process that is used to reach an agreement on a single data value. PoW helps deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the si Proof-of-Work (PoW) is a term that describes a type of consensus algorithm, which constitutes a process that is used to reach an agreement on a single data value. PoW helps deter denial-of-service attacks and other forms of service abuse, most notably spam on a network by requiring some work from the service requester.On a blockchain network, consensus algorithms are used to confirm transactions. They ensure that each block (bundle of data) that is added to a blockchain (public ledger) is the si Read this Term) and proof-of-stake (POS) systems. POW is only necessary for the original minting of a peercoin. The long-term maintenance of network security, however, depends solely upon POS.
The advantages are two-fold: First, the integrity of the system is not subject to mining power. It is therefore not susceptible to "selfish miner" or "51%" attacks. Instead, a prospective attacker would have to accomplish the near impossible feat of owning 51% of the currency.
In addition, the total cost of mining to the "peercoin economy" is far lower, as it does not entail hardware or energy intensive maintenance of the network.
According to coinwarz.com, Peercoin indeed ranks ahead of Bitcoin in terms of mining profitability, albeit by only one spot. Both currencies therefore are not profitable to mine for the majority of users, with BTC costing a net of $0.94 to generate per day vs $0.92 for PPC.
PPC has traded significantly vs BTC, but has come off recent of highs of 0.01 BTC ($9.20) to hover near 0.0075 BTC ($6.90) since the start of 2014. If its core design indeed functions as is claimed, it will remain resilient in the face of recent 51% scares that have shaken BTC value.