Review on PeepCoin by Pedro O. Alvino M.
Private payment processor.
Open source project developed from a Bitcoin base code fork, it is designed to have a secure and private ecosystem to process payments at a commercial level, since its network architecture does not have network fees for sending PCNs and its speed of network is decent.
With zero fees for the founders, the project design is to preserve decentralization throughout the project ecosystem, since the project requires a community that supports the project as a means of economic support due to not having an initial capital, for this much of the development of the project is very basic and given the low number of followers it has, the project may expect a long-term economic recession of the project.
With privacy characteristics thanks to its algorithm, the use of PCN is to have a private payment currency but today the large number of currencies present in the market also have the same design and better benefits than the competition for The PeepCoin project is very arduous.
Pros
- Project decentralized and developed by the community.
- Its consensus algorithm grants privacy to transactions generated on the network.
- The project founders do not have any advantage over the project and there are no fees for them.
- Efficiently process transactions without network fees.
Cons
- They necessarily depend on donations generated by the community, which is very low.
- They do not have a wallet for mobile devices.
- The PCN coin has huge market volatility that disrupts the network mining rewards ecosystem.
- There are already a large number of currencies intended as payment processors.
- The commercial volume and availability of the PCN currency is almost nil.
