I wanted to share my view on Peercoin’s potential, and like to know your guys’ opinion on it.
There is a lot going on in cryptoland, smart contract are being created and hacked, new economies are rising and falling.
But in the end the only one that succeeded in so far is Bitcoin (IMO).
Several altcoins are trying to reinvent the blockchain and thereby introduce security vulnerabilities.
The core of bitcoin is what shouldn’t be changed. The bitcoin script system hasn’t been used to it’s full potential yet and altcoins are already reinventing it.
Peercoin sits in the perfect position. It didn’t change the core working principles of bitcoin, but it fixed the major flaws it has:
[ul][li]Inflation (operational cost)[/li]
The first flaw is quite clear and very well understood.
However, about the second flaw there has been lot’s of debate especially around checkpointing.
I believe decentralization is the major selling point for peercoin.
[member=30983]peerchemist[/member] 's Peerbox made our network extremely strong and decentralized due to the large number of full nodes running today.
And still we build upon the proven script system that is built by bitcoin.
Counterparty has proven that much can be done by just using the bitcoin chain with it’s standard transaction types.
However they are unable to use the script system to it’s full potential, because without mining blocks yourself, you can’t get these in the chain.
Here lies a huge potential for PeerAssets and PeerKeeper!
Not only are we simplifying the whole XCP architecture, we are able to get non-standard transactions in the chain and push the chain to a new level without compromising the security of the standard transactions!
This is why I believe Peercoin will eventually grow to become a major player again.
Let’s show the world what we can do!
Join the discussion, support the projects under development and start spreading the word!