Peercoin

Peercoin, also known as PPCoin or PPC, is a peer-to-peer cryptocurrency utilizing both proof-of-stake and proof-of-work systems.

Peercoin
The Peercoin logo
Denominations
Subunit
0.001	mPPC (millicoin)
0.000001	μPPC (microcoin)
0.000001	Smallest unit
Plural	PPC, Peercoins
Symbol	Ᵽ
Nickname	Peercoin, PPCoin
Demographics
Date of introduction	12 August 2012, 17:57:38 UTC
User(s)	International
Issuance
Central bank	(Decentralized) None. Peercoin tokens are issued by stakeholders while the currency is regulated by a central authority through checkpointing.
Valuation
Inflation	Limited release rate plus 1% inflation due to the proof-of-stake system.[1]
Method	Proof-of-stake

Peercoin is based on an August 2012 paper which listed the authors as Scott Nadal and Sunny King. King, who also created Primecoin, is a pseudonym.[2] The Peercoin source code is distributed under the MIT/X11 software license.

In the proof-of-stake system, new coins are generated based on the holdings of individuals. In other words, someone holding 1% of the currency will generate 1% of all proof-of-stake coin blocks. This has the effect of making a monopoly more costly, and separates the risk of a monopoly from proof-of-work mining shares.[3]