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.
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.
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).
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.
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.
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).