Category: cryptocurrency

on December 1, 2013, the top ten cryptocurrency market capitalizations were coins such as Peercoin, Namecoin, Megacoin, Feathercoin, Worldcoin, Primecoin, Freicoin, and Novacoin. At the time, one Peercoin (PPC), the “first proof-of-stake” token [Editor’s Note: Peercoin still uses proof-of-work for important parts of its system], was around $7 and held the fourth highest cryptocurrency market cap.

However, Peercoin now holds the 37th position and is only worth 30 cents per PPC. Many of the other cryptocurrencies that used to be in the top ten range are either close to worthless or have non-existent communities. [source]

Unlike bitcion and litecoin, there is no fixed limit on the number of peercoins in circulation. Instead, the circulation is designed to increase in perpetuity at a rate resulting in a steady 1 percent rate of inflation. Peercoin relies on the same proof-of-work mining protocol as bitcoin today, but the community plans to transition to a proof-of-stake system that can be described as “the rich get richer.” The peercoin algorithm will calculate the size of an individual’s holdings and issue a percentage of each new coin blocks proportionately across the community. The more coins you hold, the thinking goes, the more likely you are to successfully mine new ones. Peercoin holders also benefit by not spending or trading their coins, as the “static age” of a peercoin impacts its mining value.

One advantage of this system is that it is far greener than processing power-based mining, and eliminates the hardware arms race that is occurring currently in the bitcoin and litecoin ecosystems. Conversely, it also greatly benefits those who are early to the system, no one more than its creators.

Peercoin markets itself as using less energy and being more environmentally sustainable than some of the other coins on the market. It says it is designed to have a 1 percent rate of inflation.

First meme-based coin

Dogecoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online. Think of it as “the internet currency.” “Doge” is our fun, friendly mascot! The Shiba Inu is a Japanese breed of dog that was popularized as an online meme and represents Dogecoin. Dogecoin sets itself apart from other digital currencies with an amazing, vibrant community made up of friendly folks just like you.

Though it might seem funny, Dogecoin was rather something that grew at a good pace because it combined Bitcoin with Doge meme and even with the low price of $.0011, it was able to get a market cap of $59.3 million.

PIVX stands for Private Instant Verified Transactions. Another open-source decentralized Blockchain currency, it is built upon Bitcoin Core. Like Zcash and Monero, PIVX boasts its heightened privacy and security.

“[W]e believe that you have the right to exchange privately and securely, without interference from corporatocracy pressures, governmental influences, prying eyes, and nefarious individuals and movements,” PIVX contends.

PIVX is highly volatile, experiencing massive spikes in trading volume and valuation as of March of this year. Again, because of the currency’s emphasis on privacy, PIVX is susceptible to criminal activity.