An Increase in Peercoin Adoption Due to Upcoming Events

Hey, everyone.
I recently typed this as a favor for friends that don’t necessarily understand the differences between Bitcoin and Peercoin and thought I should share with the forum.

The upcoming bitcoin halving represents a “block reward halving”. This occurs every 21,000 Blocks (approximately every 4 years). This is the reward miners receive for successfully mining a block and will soon drop from 25 to 12.5 BTC’s per block mined. This is due to the nature of Bitcoins supply distribution and will continue until all 21,000,000 bitcoins are minted. There are theoretical scenarios that concern themselves with the subsequent 3 weeks following the halving. If the block reward reduces without an increase in BTC/USD price then a lot of the small/medium sized mining operators will be pushed out of their profit margins. As a consequence this can cause the network to slow down because the incentive to mine reduces which makes confirmation time for transactions increase dramatically. If this were to happen we could see a build up of transactions in the “mempool” ( pending transactions to be included into the next block(s) ). In contrast to this many expect that the market hype surrounding the halving will cause an increase in the price. With only 12.5 BTC’s rewarded per block mined the inflation rate will decrease. This will lift some selling pressure from the markets and could potentially trigger a bull run and send the price skyrocketing as demand stays constant.

There are many reasons why investing in Peercoin during this time is of benefit. Bitcoin bases its security model utilizing the SHA-256 algorithm and miners use ASICS (Application Specific Integrated Circuits) that are designed for one sole purpose. This purpose is to mine using the SHA-256 algorithm. Once the halving takes place a lot of the older ASICS that are not competitive enough on the Bitcoin network will be pushed out of their profit margins. With this physical infrastructure already existing, Peercoin has a lot to gain. It uses Proof of Work (SHA-256) to maintain continual distribution of the coin; it plays no role in the security of the network. The beauty of it is that when Peercoin’s Proof-of-Work difficulty increases by a factor of x16, the block rewards are halved. There is not a set amount of blocks that have to pass in order for a halving to occur.

When it comes to securing the network Peercoin is the first to demonstrate an alternative consensus algorithm. It uses what is known as “Proof of Stake”. In this sense, instead of buying physical hardware that you must continually upgrade, you purchase a part of the network (simply by purchasing Peercoin).A proof of stake system requires the prover to show ownership of a certain amount of money. Instead of the most advanced ASIC winning the race, your probability of solving a block and getting a reward is due to how much you are willing to stake for a set time duration. The process goes a like this: Peercoins that are sent to your unlocked wallet must mature for 30 days before being eligible to start minting. Every day that proceeds the 30th day is used in a calculation called “Coin Age”. Coin Age = (Amount of PPC being staked) x (Days since matured) and this extends up to 90 days. So the more PPC you own and stake the higher probability of minting you have. The annual return is approximately 1% per year. Since a year ago today Peercoin has increased +87% against USD.

Peercoin is a hybrid Proof of Work and Proof of Stake network. It will have a permanent 1% inflation (no hard supply cap) due to the Proof of Stake rewards and eventually the Proof of Work rewards will converge to 0 (because it halves every time the difficulty increases by x16). If the inflation rate is 1% a year and you are minting the entire year you maintain the same percentage of total coin supply.

There is a increasingly present discussion surrounding “Proof-of’Work” and “Proof-of-Stake” in terms of network security. What is happening is that the risks of a Proof of Work only system are finally being recognized. A Proof of Work only secured network that relies on the ever increasing advance of physical hardware opens up the gate to centralization. If a company develops new hardware that cuts energy consumption and increases hashing power by a significant enough degree difference than what currently exists, they may take over the entire network by maintaining 51% or more of the hashing power (Eclipse attack requires less than 51% and once this occurs, all bets are off) There have been some scares in the past in the regard with hardware development by companies such as BitFury. What incentive do companies have to share their technology to ensure equal hashing distribution and mitigating risk of establishing a Hashocracy? The main problem when researching this topic is finding a credible source that knows how Proof-of-Stake works. Most mainstream Bitcoin news sources will rarely provide compelling evidence or arguments against or for the method.
This is a good read:
Edit: Grammar.

I’ve been looking for other SHA256 mined coins.
Seems that most bitcoin and peercoin forks changed the hashing algorithm to try to be “ASIC resistant”.

Do you guys know of any other significant SHA256 coins?

It looks as if keeping SHA256 for Peercoin’s PoW is the magic potion here!

Emercoin, Curecoin, Namecoin, Ixcoin (does it still exist?), Terracoin maybe,


we have seen a lot of Scrypt and CPU coins, but users who has big ASIC mining rig wants good SHA256 coin, so i wanted to creating a post that contains List of some good SHA256 coins so that ASIC mining rig owners can choose from list which coin to mine.

Here i m adding some coins for ASIC mining that use SHA256 algo including link to Info thread

  1. [btc]itcoin(Its funny to write about bitcoin bcoz everyone know this)
  2. 21Coin (21)
  3. Peercoin (PPC)
  4. Namecoin (NMC)
  5. Unobtanium (UNO)
  6. Deutsche eMark (DEM)
  7. Betacoin (BET)
  8. Bytecoin (BTE)
  9. Joulecoin (XJO)
    10.Devcoin (DVC)
    11.Ixcoin (IXC)
    12.Terracoin (TRC)
    13.Battlecoin (BCX)
    14.Takeicoin (TAK)
    15.PetroDollar (P$)
    16.PremineCoin (PMC) {Premined, Mine only tx Fees}
    17.Benjamins (BEN)
    18.Globe (GLB)
    19.Unicoin (UNIC)
    20.Snowcoin (SNC)

Please comment what you think about these altcoins (BTC is always best but we want to talk about alt sha)

if i missed any good sha256 coin then please write in comment i will add it

This post is written to shortlist all sha256 coins at one place.

From that list which would be the most susceptible to a 51% attack during this time? We know it’s not Peercoin due to security being solely PoS reliant. Imagine if during the transition there was concentrated focus of hashing power towards a weak PoW network. I believe the next filter applied to the list should be to sort by whether their security is PoS or PoW based.

Yes I saw that list too.
But the only significant coins on that list are Namecoin and Peercoin, or am I wrong?

Are our mining pools ready to welcome all the retired Bitcoin ASICs after the block halving?
I’d like to see them all coming our way :slight_smile:

Btc-e is not stupid, they have kept Namecoin and Peercoin all this time. Two are closely co-related anyway.

What I frequently read about Bitcoin and mining is that a lot of people dislike that few very large pools control some huge share of the market (about 70% I think). Bitcoin was actually reduced from PoW p2p network to delegated PoW based network. Big mining pools serve as delegates for PoW process.
If we really expect mining frenzy in coming months, maybe we should cater to the miners and go around this problem.
Having a p2p pool ( for true p2p coin should present this coin in better light once again and hopefully would make it more interesting to miners.

More links:

I really think we should try to cater to miners.

Well, BTC-e has not added any coins in years, while they have removed several (Feathercoin and Primecoin, for example). I think they keep PPC and NMC only because they have good trade volume. Perhaps they might drop either one if its volume was too little. I remember each time a new coin came out (NXT, BTS, NBT, ETH, etc.) and they just ignored it. So I’m not sure they are really actively managing the listings, but rather, just keeping things as they are.

I think difficulty might rise a bit after the halving because of the extra unprofitable bitcoin ASICs floating around. That’s a good thing, thanks to lower inflation and better peercoin distribution! We’ll see.

[quote=“peerchemist, post:6, topic:3850”]Maybe we should cater to the miners and go around this problem.
Having a p2p pool ( for true p2p coin should present this coin in better light once again and hopefully would make it more interesting to miners.
More links:[/quote]

This a great idea. A shift of focus to start catering now will be most effective in increasing relevant miners awareness and adoption.

You’re right and it seems intended.I believe that their plan is to focus the available liquidity on the exchange to a limited number of pairs. In doing so they have created value in the form of hedging tools with fairly defined price correlation.
This would provide a comfortable level of certainty for their continual operation and mitigate the risks involved with adopting new coins at the rate we are currently seeing elsewhere.

So does anyone else agree we should get going with p2p pool?

I’m happy to help out with this if there is agreement that this would increase the Peercoin adoption.

We might also need a “landing page” to welcome the bitcoin miners.
Something like:

[size=14pt]Peercoin mining for Bitcoin miners[/size]
[size=12pt]Make your bitcoin mining rig profitable again![/size]

The threshold should be as low as possible.

Bumping this thread considering that we are now witnessing the outcome.

If anyone would like to discuss or share information relevant to the post bitcoin halving effects on the Peercoin network, it would be greatly appreciated. :smiley:

Some mining pools and their URL to check Pool Hash Rate:

Fixx PeerCoin Pool:

Ecoining Peercoin Pool:

D7 Pool:


Since the PoW block reward reduction is gradual and not an rapid impulsive change, has the PPC PoW block reward gone from 70.24 PPC to about 64.37 PPC in just 24 Hours?

That’s about an 8% reduction in just a day ;D

The big rise due to halving is done. Profitability is in line with past periods now, lets see how much S9 bitmain will get online in the coming months.