Critique My PeerCoin Spotlight?


#1

So, I really hope this doesn’t constitute as spam, with the first post I make being a link to an article of mine.

But anyway, I just recently wrote a spotlight on PeerCoin (here & here). I like to think I know a fair amount about PeerCoin, but I was hoping I could have some ‘experts’ skim over the post and make sure that I didn’t miss anything or unknowingly lie about PeerCoin.


#2

Actually Peercoin is not a transactional cryptocurrency and has high transaction fees.

PoS is more complex than “get dividends”. It does not come for free either.


#3

Guess it’s been a while since I performed a transaction, what are the transaction fees like now? Also, I just overly simplified PoS since it’s a spotlight on PeerCoin and not the PoS algorithm (if somebody reading it doesn’t already know what PoS then that’s kind of up to them to look it up).


#4

The fee is static at 0.01 ppc, which is small in usd value, but large in % of total supply when compared with bitcoin. The fee model peercoin follows involves burning of a fixed fee per kilobyte, whereas in bitcoin the fee fluctuates with the size of the mem pool and is paid to the miner.


#5

I guess when you said it had high transaction fees I assumed you meant that it changed. I was considering the actual cost to make a transaction.


#6

Yes, transactions are cheap (at the moment). But that is not a design goal. Design goal is to make transaction cost fixed and not variable depending on market conditions (demand).