[Crypto projects](https://revain.org/projects/) › Peercoin

# Peercoin (PPC): how it works, supply and reviews

## In short

- **Type**: Own layer-1 blockchain, based on Bitcoin's codebase
- **Maximum supply**: No true supply cap; the 21 million MAX_MONEY constant in the code is only a precaution
- **Risks and caveats**: There is no hard supply cap; new PPC is issued continuously through proof-of-work and proof-of-stake, with inflation the project estimates at about 1-3% a year.
- **Checked**: 31 October 2026

## Key facts

- **Ticker**: PPC
- **Official site**: [peercoin.net home page](https://www.peercoin.net/)

Key facts checked on 31 October 2026 against official sources.

## What is Peercoin

Peercoin (PPC), originally called PPCoin, is a cryptocurrency launched on 19 August 2012 by Sunny King and Scott Nadal and the first to introduce proof-of-stake consensus. It is based on Bitcoin and combines proof-of-stake for security with SHA-256 proof-of-work for coin distribution.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Own layer-1 blockchain, based on Bitcoin's codebase |
| Consensus | Hybrid: proof-of-stake secures the chain; proof-of-work distributes new coins |
| Proof-of-work algorithm | Double SHA-256, so Bitcoin mining hardware can mine PPC |
| Launched | 19 August 2012, 18:00 UTC, with no premine |
| Block time | About 10 minutes; 6 confirmations recommended |
| Staking (minting) maturity | Coins must age 30 days (about 4,320 blocks) before they can mint; coin age is capped at 90 days |
| Transaction fee | Fixed fee of 0.01 PPC per kB, burned rather than paid to block producers (as of 31 October 2026) |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | No true supply cap; the 21 million MAX_MONEY constant in the code is only a precaution |
| Proof-of-work reward | Block subsidy falls as difficulty rises: it halves for every 16x increase in difficulty |
| Staking rewards | Proof-of-stake reward of 3% of the minting coins plus 0.25 PPC per block (RFC-0018) |
| Inflation | Project docs estimate total annual inflation of about 1-3% (one docs page gives ~2.4%) |
| Fee burn | Transaction fees are destroyed, which offsets part of new issuance |
| Initial distribution | No premine or ICO; coins were distributed through proof-of-work mining |

## What PPC is used for

- Paying fixed transaction fees, which are burned.
- Minting (staking) new proof-of-stake blocks to secure the network and earn rewards.
- Voting on protocol rules: minters choose which protocol version their nodes run.
- Wrapping into wPPC tokens on Ethereum and Polygon through the project's bridge.

## Who develops and governs Peercoin

- **Founders**: Sunny King and Scott Nadal (2012)
- **Foundation**: Peercoin Foundation, a non-profit set up in 2025 to support education and development
- **Legal entity**: Peercoin Foundation, San Mateo, California, United States; entity no. B20250199422
- **Governance**: No governing body; protocol changes are adopted by node operators and minters
- **Open source**: Reference client on GitHub under the MIT licence

## History

| Date | Event |
|---|---|
| 19 August 2012 | Peercoin's chain started, with no premine; launch announced nine days earlier. |
| — | Introduced by Sunny King as PPCoin (peer-to-peer coin) and renamed Peercoin shortly after. |
| 22 January 2019 | Protocol v0.7 hard fork, including rounding transaction fees up to 0.001 PPC (RFC-0007). |
| 15 May 2020 | Protocol v0.9 hard fork adjusted PoS rewards, PoW block spacing and capped effective coin age at one year. |
| 2 October 2021 | Protocol v0.11 hard fork removed transaction timestamps and capped the PoW reward. |
| 1 February 2022 | Protocol v0.12 hard fork pruned zero-value outputs and eased PoW difficulty when PoW blocks are overdue. |
| 2025 | Peercoin Foundation established as a non-profit in the United States. |
| 18 October 2026 | Peercoin client v0.15.2 released. |

## Security and audits

- Central checkpoints signed by developers were long criticised; support for centrally broadcast checkpoints was removed from the official client in version 0.10.
- Newly minted or mined coins stay locked for 520 confirmations (about 3.6 days) to prevent spoofed minting.

## Security incidents

Incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so none is listed here.

## Official PPC contracts

| Network | Contract address |
|---|---|
| Ethereum (wPPC) | [0x044d078F1c86508e13328842Cc75AC021B272958](https://etherscan.io/address/0x044d078F1c86508e13328842Cc75AC021B272958) |
| Polygon (wPPC) | [0x91E7E32C710661C44ae44D10Aa86135d91C3Ed65](https://polygonscan.com/address/0x91E7E32C710661C44ae44D10Aa86135d91C3Ed65) |

PPC is native to the Peercoin blockchain; these are the wrapped Peercoin (wPPC) token contracts listed on peercoin.net.

## Risks and caveats

- There is no hard supply cap; new PPC is issued continuously through proof-of-work and proof-of-stake, with inflation the project estimates at about 1-3% a year.
- Coins must sit unspent for 30 days before they can mint, and newly minted coins are locked for 520 blocks, so staked funds are not instantly liquid.
- wPPC on Ethereum and Polygon is a synthetic token created through the project's bridge, which adds bridge risk compared with holding native PPC.

## Official links

- Website: [peercoin.net home page](https://www.peercoin.net/)
- Source code: [GitHub: peercoin/peercoin](https://github.com/peercoin/peercoin)
- Docs: [docs.peercoin.net home page](https://docs.peercoin.net/)
- Block explorer: [blockbook.peercoin.net home page](https://blockbook.peercoin.net/)
- Governance forum: [talk.peercoin.net home page](https://talk.peercoin.net/)

## Questions and answers

**What is Peercoin?**

Peercoin (PPC), first called PPCoin, is a Bitcoin-based cryptocurrency launched on 19 August 2012 and the first to use proof-of-stake, combined with proof-of-work for distribution.

**Can you mine Peercoin?**

Yes. Peercoin uses double SHA-256 proof-of-work, so Bitcoin mining hardware can mine it; holders can also mint new blocks by staking coins that are at least 30 days old.

**Who created Peercoin?**

Sunny King and Scott Nadal proposed Peercoin in 2012. Since 2025 a US non-profit, the Peercoin Foundation, supports its development; the network itself has no governing body.

**What is the maximum supply of Peercoin?**

There is no true supply cap; the 21 million MAX_MONEY value in the code is only a precaution, and the project estimates inflation at about 1-3% a year.

**What are Peercoin's transaction fees?**

Fees are fixed at 0.01 PPC per kB and are burned with each transaction (as of 31 October 2026).

## Sources

- [Peercoin — GitHub README (reference client)](https://github.com/peercoin/peercoin/blob/master/README.md)
- [Peercoin — latest release v0.15.2](https://github.com/peercoin/peercoin/releases/tag/v0.15.2ppc)
- [Peercoin docs — Introduction (source)](https://github.com/peercoin/docs-new/blob/master/src/docs/overview.mdx)
- [Peercoin docs — FAQ (source)](https://github.com/peercoin/docs-new/blob/master/src/docs/faq/faq.mdx)
- [Peercoin docs — Proof-of-Stake (source)](https://github.com/peercoin/docs-new/blob/master/src/docs/proof-of-stake/proof-of-stake.mdx)
- [Peercoin docs — Mining (source)](https://github.com/peercoin/docs-new/blob/master/src/docs/mining/mining.mdx)
- [Peercoin docs — Distribution and block rewards (source)](https://github.com/peercoin/docs-new/blob/master/src/docs/comparison/distribution.mdx)
- [Peercoin docs — Burned and fixed fees (source)](https://github.com/peercoin/docs-new/blob/master/src/docs/comparison/fees.mdx)
- [Peercoin docs — Protocol changelog (source)](https://github.com/peercoin/docs-new/blob/master/src/docs/changelog/changelog.mdx)
- [peercoin.net — site text (English locale)](https://github.com/peercoin/peercoin.net/blob/master/public/locales/en-US/translation.json)
- [peercoin.net — Foundation address](https://github.com/peercoin/peercoin.net/blob/master/src/components/Address/Address.jsx)
- [peercoin.net — Wrapped PPC contracts](https://github.com/peercoin/peercoin.net/blob/master/public/data/wrapped_ppc.json)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/peercoin/