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The main members of Peercoin's development are Sunny King and Scott Nadali, both well-known IT specialists. Developed in 2012, Peercoin is based on the Bitcoin code, in fact it uses the same Bitcoin mining algorithm, known as SHA-256. For its characteristics Peercoin project is defined a proof of work and proof of stake hybrid. Peercoin’s founders utilized proof-of-stake for network security and proof-of-work for distribution. Proof-of-work miners are rewarded with new PPC generated by the…

Pros
  • - Security high level (coin owners and stakeholders are the ones who take influence over the network, produce new blocks, and secure the chain. Stakeholders are also the owner of the blockchain and all together decide its future through voting process). - Peercoin is the first blockchain capable of allowing Minting protocol rules to be governed directly by its users. - Peercoin development on modularity (keeping the protocol simple and secure with as few features as possible). - Fair distribution (while proof-of-stake provides security directly, proof-of-work is projected to do so indirectly by strengthening the decentralization of the network through a wider distribution of PPC to new potential minters). - Good growth prospects in the medium to long term.
Cons
  • - Peercoin aimed to be one of Bitcoin's main competitors in 2012 but with the passage of time it has not shown his true potential. - Understimated PPC current quotation.