Wiki / Forks / Peercoin

PeercoinPPC

From the Bitcoin Takeover Wiki · ✓ 3 sources · 0 podcast anchors · built 2026-11-13

The first cryptocurrency to use proof of stake, launched in August 2012 on a Bitcoin-based codebase.

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The wiki's angle: Peercoin is where proof of stake entered the Bitcoin family tree, a decade before the idea took over other ecosystems.[2][3]

Contents

  1. Launch
  2. Design
  3. References

Launch

Sunny King announced on Bitcointalk that the PPCoin block chain “officially started at 2012-08-19 18:00:00 UTC”[1]. The project README says Peercoin, previously known as PPCoin, is based on Bitcoin and was the first cryptocurrency design to introduce proof-of-stake consensus as a security model[2].

Design

Peercoin is based on an August 2012 paper credited to Scott Nadal and Sunny King, a pseudonym[3]. It uses both proof of work and proof of stake to distribute new coins, with proof of stake securing the chain[3]. Transaction fees are burned instead of being collected by a miner[3].

References

  1. primarySunny King, “[ANN] [PPC] PPCoin Released!”, Bitcointalk topic 101820, 19 Aug 2012 [archived]
  2. primarypeercoin/peercoin README (GitHub) [archived]
  3. secondaryWikipedia, “Peercoin” [archived]

Related

Namecoin
The first fork of Bitcoin's code to run its own network: a naming system for the .bit domain that pioneered me
Litecoin
Charlie Lee's 2011 code fork of Bitcoin: “silver to Bitcoin's gold”, Scrypt proof of work, 2.5-minute blocks,
Bitcoin Atom
A January 2018 SegWit-enabled fork built around on-chain atomic swaps and hybrid proof of stake.
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