Description
Peercoin (PPC) is a pioneering blockchain that came online in 2012, known for inventing the proof-of-stake consensus protocol as an alternative to Bitcoin's proof-of-work. This innovation allows for a more energy-efficient and sustainable security model, enabling any network-connected computer to participate in securing the blockchain. Peercoin's design focuses on user governance, where coin holders influence the network, produce new blocks, and decide its future through protocol voting. It positions itself as a trustless base layer settlement network, emphasizing modularity and a simple, secure protocol to ensure scalability for global usage. To ensure fair distribution, Peercoin utilizes a hybrid model, using Proof-of-Work for initial coin distribution and Proof-of-Stake for network security. This approach aims to create a decentralized, reliable, and censorship-resistant network for storing value, whether as fiat wealth in PPC or as data like tokens, records, or contracts.