Peercoin is a PoS-based cryptocurrency that is present in the crypto space for quite some time. But as we see today, a lot of different crypto tokens and coins are floating around, so how do we differentiate between them? Major differences generally include the mining algorithms, utilities etc. Most cryptos often differentiate upon the long-term vision that they are aiming. While some are making sure the crypto ecosystem is made secure, some are just floating around for no logical reason.
In order to know about Peercoin’s long-term vision and its difference from the others such cryptos floating around, BlockPublisher got in touch with the Project Manager of Peercoin who also goes by the alias of ‘peerchemist’ on his Discord handle.
Briefly describing Peercoin’s vision in the shortest of words, he stated:
To offer worlds safest cryptocoin while being sustainable.
Answering to the question of Peercoin’s (PPC) difference from other crypto coins, he added that “it’s secure and sustainable”. But how is a normal fiat user going to get the benefit if he decides to use Peercoin for carrying out his financial activities? Replying to the question relating to the benefits offered to the users by Peercoin, he further stated:
By having secure and sustainable coin to rely on for his p2p payments, and any other utilization of the decentralized blockchain like notarization and tokenization.
As Peercoin is based on blockchain, all the prospects that are linked with it are provided by Peercoin by default. Decentralization is one of the most important features provided by blockchain. Elimination of a central controlling authority makes blockchain more attractive in the eyes of a normal user.
Peercoin is also different than Bitcoin in its aspect of minting coins with the employment of Proof-of-Stake (PoS) algorithm, instead of Proof-of-Work (PoW). The main reason behind this is the goal of elimination of the advantage gained by the heavy and expensive hardware owning miners in a PoW ecosystem.
As cryptos are expanding on a global scale day in and day out, their aspect of replacing fiat in the mainstream financial market is also growing strong. But are we ever going to see it happen? Peercoin’s Project Leader suggests its highly unlikely. Talking about this, he said:
I don’t think fiat will be replaced.
With so many competitors floating around, it remains to be seen how Peercoin will survive and flourish in the coming time.