The Peercoin Logo Denominations Subunit 0.001 mPPC (millicoin) 0.000001 μPPC (microcoin) 0.000001 Smallest unit PPC, Peercoins Ᵽ Nickname Peercoin, PPCoin Demographics Date of introduction 12 August 2012, 17:57:38 UTC User(s) International Issuance (Decentralized) None. Peercoin tokens are issued by stakeholders while the currency is regulated by a central authority through checkpointing. Valuation Limited release rate plus 1% inflation due to the system. Method Peercoin, also known as PPCoin or PPC, is a utilizing both and systems. Peercoin is based on an August 2012 paper which listed the authors as Scott Nadal and Sunny King. Sunny King, who also created, is a pseudonym.

Nadal's involvement had diminished by November 2013, leaving King as Peercoin's sole core developer. Peercoin was inspired by, and it shares much of the and technical implementation of bitcoin. The Peercoin source code is distributed under the / software license. Unlike,, and, Peercoin does not have a hard limit on the number of possible coins, but is designed to eventually attain an annual inflation rate of 1%. There is a deflationary aspect to Peercoin as the transaction fee of 0.01 PPC/kb paid to the network is destroyed. This feature, along with increased, aim to allow for greater long-term scalability. Contents • • • • • • • • • • • • • • • • • Transactions [ ] A network handles Peercoin's transactions, balances and issuance through, the scheme (Peercoins are issued when a small enough value is found, at which point the block of transactions is added to the shared block chain.

What is Peercoin? Introduced in August 2012, Peercoin (PPC). And this risk has seemed very real in the past when certain BTC mining pools did. [PPC] Peercoin - Indicium Logo & PeerAssets Diagram. Peercoin - Indicium Logo & PeerAssets Diagram Released (Read 31764. Minting & Mining; Resources; Peercoin.

The process of finding these hashes and creating blocks is called ' mining'). Addresses [ ] Payments in the Peercoin network are made to addresses, which are based on. They are strings of 34 numbers and letters which always begin with the letter P. One can create as many addresses as needed without spending any Peercoins. It is quite common to use one address for one purpose only which makes it easy to see who actually sent the Peercoins. Confirmations [ ] Transactions are recorded in the Peercoin blockchain (a held by most clients), a new block is added to the blockchain with a targeted time of 10 minutes (whenever a small enough hash value is found for the proof-of-work scheme), a transaction is usually considered complete after 6 blocks, or 60 minutes, though for smaller transactions, fewer than 6 blocks may be needed for adequate security. Creation of new coins [ ] New coins can be created in two different ways; mining and minting.

Mining uses the SHA-256 algorithm to directly secure the network. Minting rewards users in proportion to the coins that they hold (targeted at 1% annually). There are long term plans to reduce gradually the amount of mining and to rely more on minting.

This is to create a fair distribution and could lead to an increase in the reward from minting. Distinguishing features [ ] Proof-of-stake [ ] Peercoin's major distinguishing feature is that it uses a hybrid / system. The proof-of-stake system was designed to address vulnerabilities that could occur in a pure proof-of-work system. With, for example, there is a risk of attacks resulting from a monopoly on mining share.

This is because rewards from mining are programmed to decline exponentially, which may decrease the incentive to mine. As miners decline, the likelihood of a monopoly increases, which leaves the network vulnerable to a 51% attack (a 51% attack is when a single entity possesses over half the mining share, which would allow this entity to theoretically double-spend a transaction involving their coins). With a proof-of-stake system, new coins are generated based on the holdings of individuals. In other words, someone holding 1% of the currency will generate 1% of all proof-of-stake coin blocks. This has the effect of making a monopoly more costly, and separates the risk of a monopoly from proof-of-work mining shares. Proof-of-work [ ] The whole network uses the. For each 16 times increase in the network, the proof-of-work block reward is halved.

In July 2016 the mining reward halved causing a notable minority of miners to switch to mining Peercoin for better profitability. Researcher Adam Hayes explained that the Peercoin network hashrate surged from roughly 500 terahashes per second (TH/s) to 6,500 TH/s following the halving. Energy efficiency [ ] Peercoin's proof-of-stake system was developed to address the high energy consumption of bitcoin. For example, as of April 2013 the generation of bitcoins was using approximately $150,000 USD per day in power consumption costs.

The proof-of-stake method of generating coins requires very minimal energy consumption; it only requires the energy to run the client software on a computer, as opposed to running resource-intensive cryptographic hashing functions. During its early stages of growth, most Peercoins will be generated by proof-of-work like bitcoin, however over time proof-of-work will be phased out as proof-of-work difficulty increases and block rewards decrease. As proof-of-stake becomes the primary source of coin generation, energy consumption (relative to market cap) decreases over time.

As of January 2014, roughly 90% of new coins being generated are still from proof-of-work and the energy consumption of Peercoin uses roughly 30% of the energy consumption of bitcoin (scaling for market cap - in terms of value secured per GH/s). Steady inflation [ ] Peercoin is designed so that it will theoretically experience a steady 1% inflation per year, yielding an unlimited number of coins. This is a combined result of the proof-of-stake process, and scaling of mining difficulty with popularity. Although Peercoin technically has a cap of 2 billion coins, it is only for consistency checking, and the cap is unlikely to be reached for the foreseeable future. If the cap were to be reached, it could easily be raised, hence for all practical purposes Peercoin can be considered to have inflation of 1% per year, with a limitless money supply. This was partially designed to address the growing population.

Transaction fees [ ] Peercoin is designed so that variable and optional transaction fees are removed in favor of a protocol defined transaction fee (currently 0.01 PPC/kB). The transaction fee is fixed at the protocol level and does not go to miners but is destroyed instead. This is intended to offset inflation by deflating the money supply and serves to self-regulate transaction volume, and stop network spam. One issue with a protocol defined transaction fee is that it does not evolve with the value of currency units, and requires a hardfork of the protocol to adjust transaction fees. PeerAssets [ ] PeerAssets is a simple, blockchain agnostic protocol which enables peers to issue and transact with assets. PeerAsset protocol based assets can be utilized to represent any type of asset like bonds or equity. This allows the creation of DAOs and DACs on the Peercoin blockchain, complete with dividend functionality as well as shareholder voting.

[ ] Indicium [ ] Indicium is a financially driven token-issuance DAC built using PeerAssets, hosted on the Peercoin blockchain. It will form algorithmically chosen indices and baskets of cryptocurrencies and issue assets corresponding to the value of these baskets. Peercoin dividends and voting rights will be given to Indicium (IND) holders as a representation of ownership in the DAC.

A federated approach will be taken, where a group of founders or a board of directors will perform managerial duties to facilitate operation. [ ] Indicium completed a Series A financing on May 24, 2017, reaching the maximum Series A funding limit of $250,000.00. Other [ ] Checkpointing [ ] According to the original paper, Peercoin uses a centrally broadcast checkpoint mechanism. The paper cites 's argument that “Bitcoin has not completely solved the distributed consensus problem as the mechanism for checkpointing is not distributed.” King notes that he attempted to design a distributed alternative, but ultimately concluded that a centralized solution was acceptable until a distributed solution became available. Released on November 1, 2017, v0.6.0 of the protocol allows users to opt-out of checkpointing. See also [ ] • • • References [ ].

• ^ King, S.; Nadal, S. (August 12, 2012). Retrieved 2013-12-23. • Bradbury, Danny.. Retrieved 19 July 2014. Retrieved 23 February 2014. • ^ Bradbury, Danny (7 November 2013)..

Retrieved 23 February 2014. • Popper, Nathaniel (24 November 2013)..

The New York Times. Retrieved 25 February 2014. • Vega, Danny.. Retrieved 20 July 2014.

• Hern, Alex.. The Guardian. Guadian News & Media Ltd.

Retrieved 2014-07-17. External links [ ] Media related to at Wikimedia Commons • •.

And set the ODD fan (closer to GPU) to 'Sensor-based value' to GPU Diode and to start increasing speed at 60C degrees to a max. Of 75C degrees. On my Imac, when I let the OSX system control the fan, the GPU Diode temp shoots up to 80C degrees and after enabling Macs Fan Control app the GPU Diode temp drops down to 64 degrees immediately. If you are running OSX 10.6.8 you need to upgrade to OS X Mavericks 10.9, it's free from the Mac App Store. If you are running 10.7 or 10.8 you may not need to upgrade at all. [size=14pt][u] CPU mining:[/u][/size] Download MacMiner version 1.5.4 (or experiment with a newer version if available) from you MUST keep the App in the Applications folder. Every time you open MacMiner, by default it opens the BFG miner, make sure you CLOSE IT every time and go to View menu -->Show CPUMiner.

Once the small window opens, click on the gear button. On the following window, click the button 'Edit pool settings' empty all the fields but fill out the LTC fields with the pool url of your choice, enter your user name and password or instead use the default in-app options and instructions given -->hit Save & start button to close this window. Now click on Start button and it should start CPU mining now. [size=14pt][u] GPU mining:[/u][/size] Download the full package of cgminer for Mac OS X version 3.7.2 from When you unzip the downloaded file, it gives you a folder that we don't need. Just move the App cgminer for Mac OS X to the Applications folder and DO NOT RENAME IT.

You MUST keep the App in the Applications folder and DO NOT OPEN THIS APP. It's not necessary and it didn't work for me anyways, we need the files only, not the interface. Now control+click (right click) the app cgminer for Mac OS X and click -->Show Package Contents. Now navigate to Contents -->Resources folder and here you'll see a bunch of files, one of them being cgminer. In this Resources folder, create a text file named mine with the extension.sh ( mine.sh). You can use TextEdit.app for this.

Inside the mine.sh file you will paste the following:!/bin/sh export DISPLAY=:0 export GPU_MAX_ALLOC_PERCENT=100 export GPU_USE_SYNC_OBJECTS=1./cgminer -g 1 -o stratum+tcp://stratum.d7.lt:3333 -u YOURpoolUSERNAME -p YOURpoolPASSWORD --failover-only --intensity=0 If you know the shader value of your GPU then add it. I'm doing fine without it.

Leave intensity at 0 to start, you can test higher values later. Make sure that this mine.sh is saved in the Resources folder. Now go to the Terminal.app (It's located in Applications/Utilities folder) and run the following command: cd / (hit enter) Navigate to the Resources folder with this command: cd./Applications/cgminer for Mac OS X.app/Contents/Resources/ (hit enter) Assign executable permissions to the file mine.sh with the following command: chmod a+xrw mine.sh (hit enter) And finally run cgminer with this command:./mine.sh (hit enter) Mining will begin as long as you have a decent GPU that supports Open CL.

Best, Alejandro Scotti. Hi Panda, I got CGminer in your version 1.4.2 to work but it was giving me faulty results, unstable, with errors and the pool wasn't receiving any data. And the few times that I accidentally used BFGminer I was getting the same faulty results. Total Decred DCR Mined. I haven't tried your latest version since you released it after I posted this initial guide. Are you sure that your post is correct and tested?

I know it may sound like a stupid questions since you made the app, but I wasn't able to reproduce it. Thanks, Alejandro.