Peercoin is a peer-to-peer blockchain cryptocurrency that seeks to be one of the most secure and lowest cost “coins”. Built on the code of the Bitcoin Core, Peercoin’s blockchain implements a hybrid Proof-of-Stake and Proof-of-Work consensus system. As the Proof-of-Work consensus block mining reward decreases over time, the Proof-of-Stake consensus will take over to prevent any potential attacks against its blockchain. Peercoin is sustainably inflationary, meaning that its inflation will slow over time to only 1% (at which time only 1% of coins will be created in a process called “minting”), and any transaction fees will eventually be destroyed instead of paid out as rewards.
Peercoin (PPC) is the digital asset of the Peercoin blockchain which is able to be sent peer-to-peer, is used to pay transaction fees, and powers the Proof-of-Stake consensus.