On the home page of peercoin.net there is a section of text called Fair Distribution. Will you be talking about the things discussed in there or only our initial distribution? For example, in that text I mention about the problem of properly distributing a pure PoS coin. Then I go on to explain that Peercoin features both PoS (security) and PoW (distribution). And finally I explain how PoW provides security indirectly by spreading newly produced coins to new owners who are potential security providers that can start minting with those coins. This has the affect of slowly decentralizing the blockchain over time by getting more coins into the hands of new owners.
I don’t know how you want to explain some of that because at this point I believe you don’t introduce PoS until the value proposition section right after this. Maybe it might make sense to talk only about the launch, and then move some of this info to another more appropriate chapter.
I would personally introduce this as time first, which is a more relatable word to people. Then the concept of coinage can be explained after.
For this, I would like you to stress what exactly 2012 means for people who might not know. You can say for example that at the time your video was recorded, Peercoin had been securely running for almost 7 years, which shows its reliability. Also stress that it is also the 4th oldest crypto project that is still actively developed, behind only projects like Bitcoin and Litecoin (Namecoin as the 3rd in case you want to mention that). Mentioning this gives people the idea that it really was launched in the beginning. The fact it has been running securely for so long lends it credibility.
For this part, I would like you to explain what is meant by sustainability. In the Efficient Security section of the home page I have this quote…
This is really what sustainability means. Because time is part of the security protocol, Peercoin nodes can be run at low cost on any device. Low cost security means people can always affordably run a node. That leads to long-term security, since it can always be provided. Also because it’s inexpensive, greater numbers of people can run block producing nodes, which further decentralizes security. It’s ok if you need to mention some of this later in the chapter. I just wanted to make sure I put it here.
Some of us have started calling this Adaptive Inflation, because it adapts to the market, whether it is inflation from PoS, dynamic inflation from PoW or deflation with the destruction of transaction fees. The specific amount is dependent on the actions of users of the network. I just did not add the term to Peercoin University yet, but I probably will in the future.
Maybe mention the benefit of a fixed transaction fee here. In bitcoin the necessary fee jumps around depending on how full blocks are. With Peercoin the fee is fixed, which means people will always be able to calculate the exact fee which is needed for their transactions. This provides for a better user experience as people don’t need to guess the correct fee to use.
Can you please tell me what this means to you?
Backbone currency was originally a term by Sunny from one of his old community interviews. In my opinion it is equivalent to base layer, which is used in the Bitcoin community. The Trustless Base Layer text from the home page sums up this idea…
So the backbone/base layer idea is to keep the blockchain protocol simple and build most extra functionality on top using different layers. These top layers (such as the Lightning Network) also allow for scalability of transactions beyond what the blockchain is capable of handling by itself.
I think there should be one more part at the end of this, the idea of Peercoin being designed as a great store of value (not in the sense that PPC as currency holds its value, but instead from a security standpoint). I also emphasized this on the home page here…
The basic idea here is that because Peercoin is built to last (because it is designed to maintain its trustless nature and decentralized security over time), the blockchain is the perfect tool to be used for securely storing value. That value can be monetary or data.
For example Perpera allows you to store a hash of a document (check the new tutorial video) in a permanent way that can be referenced later on for auditing purposes. This tool utilizes Peercoin in a way that takes advantage of the blockchain’s immutability.
100 years from now this data will still be available as it was recorded into the Peercoin blockchain. And it will still be available to reference because Peercoin is secured efficiently and inexpensively, which allows the chain to be sustained indefinitely. This is as opposed to Bitcoin where we don’t know for sure if transaction fees will be enough to sustain the chain’s security in the long-term.