So apparently we’re receiving some competition from NXT as their market cap is approaching Peercoin. Maybe it’s just a temporary spike, but I think we should have something on the website that defends us against them and other pure proof-of-stake coins. They’re marketing pure proof-of-stake as being better than Peercoin’s hybrid Pow/PoS design. Is this true though? On the Peercoin subreddit, Jensen98 posted the following quote, explaining that the hybrid design makes Peercoin more secure than a pure PoS coin like NXT…
[quote=" jensen98"]A PoW/PoS hybrid system is more secure. Think of it as a balance of powers.
Here’s how Peercoin works: Peercoin is a hybrid system of PoW/PoS…and this combination is what is presently the most secure. If you look at Peercoin’s blockchain, the proportion of PoW blocks to PoS blocks doesn’t change much over the long-run (it does fluctuate quite a bit from day to day though due to it’s design). But here is what’s important…If you are trying to mess with Peercoin’s blockchain by controlling say 51% of the hashrate, it may be possible to attack the network 2 or 3 times, and then you would be stuck, and the attack would fail to work; this is because PoS blocks will come in and interrupt your attack and there is no way you can guess what the next block is going to be (again the randomness is part of the design).
Peercoin’s hybrid system is also better than a full PoS system because a full PoS system is open to the same sort of attack if you control all the majority of coin age. Again, if you controlled the majority of coin age in Peercoin you might be able to carry out an attack or 2, but you would not be able to keep on attacking this way either because along would come other PoS blocks you do not control as well as PoW blocks, and these would stop your attacks.
To really attack Peercoin, you need to control the majority of hashpower + the majority of coin age, which is much more costly than just one or the other. No perpetual attack on either front can really be carried out on Peercoin, so this is why Peercoin is superior.[/quote]
What we need to do is verify that this claim is true. If it is true, then we need to create an easy to understand quote that explains this to new people and place it on the website under the FAQ section. This needs to be done NOW before people start trying to claim that our hybrid design is somehow inferior. If Peercoin’s hybrid design really is more secure than pure PoS, then we should be putting this out there so people don’t get persuaded by false advertising from our competitors.
So in short, we first need to verify this is true. Then we need to design a quote for the website that is easy to understand for people new to Peercoin.