Peercoin aims to be the most reliable cryptocurrency at the least cost by rewarding users for powering the Blockchain. It is a cryptocurrency that uses the PoW reward system. In this article, as Kriptokoin.com, “What is Peercoin?” We will answer the question. In addition to these, we will touch on all the questions about the project.
What is Peercoin? What does PPC do?
Peercoin is an altcoin project developed by Scott Nadali and Sunny King in 2012. Peercoin is based on basic BTC technology. Therefore, all applications running on the BTC network can also be used for Peercoin.
It also uses the same mining algorithm as BTC, called SHA256. Peercoin uses the PoS algorithm to secure the network. Peercoin is pretty fast and efficient. Transactions in a PPPC network take minutes or even hours in other networks, and are completed in seconds in PPC.
What are the advantages?
- PPC determines its main chain based on the material age data that spends for each transaction in all distinct blocks.
- Thanks to the PoS system, the PPC is highly resistant to a potential attack of 51%.
- This protection provided by platform security makes Peercoin very advantageous compared to other Coins.
- While looking for special codes on the Blockchain in Peercoin, the whole Blockchain avoids the use of nodes that require energy to analyze. With that comes one of the most important features of PPC. This feature is that the electricity requirement is quite low and accordingly, it is sustainable in the long term.
- Transaction costs are lower than other cryptocurrencies.
- PoS users can mine new Peercoins based on the number of PPCs they hold in their wallets, without the need for special hardware.
- Peercoin is the first cryptocurrency to offer unlimited Tokens.
What is Peercoin? How to buy PPC?
PPC can be purchased in 4 different ways as trade, barter, mining and direct producer. Exchanges where Peercoin is currently traded; HitBTC are YoBit, Bittrex, The Trading and SouthXchange.
People who want to invest in the project should open an account in one of the exchanges where the project is traded. Then complete the next step, the authentication and approval process, and follow the exchange’s deposit steps. As the last step, select the PPC with the balance you want and create a purchase order. For the most secure storage, you can use the PPC wallet that you can download from the platform’s website. The wallet is available for Windows, Linux and Android.
