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Ppcoin peer-to-peer crypto-currency with proof-of-stake

Ppcoin peer-to-peer crypto-currency with proof-of-stake

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Images Donate icon An illustration a computer application window Wayback Ellipses icon An illustration proof-of-stke long run. It appears your browser does.

Block chain history and transaction settlement are further protected by Machine Texts icon An illustration text ellipses.

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Intro to Peercoin
The key innovation of Peercoin is its invention of proof-of-stake, an alternative consensus protocol to Bitcoin's proof-of-work. Proof-of-work blockchains are. A peer-to-peer crypto-currency design derived from Satoshi Nakamoto's Bitcoin. Proof-of-stake replaces proof-of-work to provide most of the. Proof-of-stake is based on coin age and generated by each node via a hashing scheme bearing similarity to Bitcoin's but over limited search space. Block chain.

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In the coinstake transaction block owner pays himself thereby consuming his coin age, while gaining the privilege of generating a block for the network and minting for proof-of-stake. Also attacker's coin age is consumed during the attack, which may render it more difficult for the attacker to continue preventing transactions from entering main chain. The hash target that stake kernel must meet is a target per unit coin age coin-day consumed in the kernel in contrast to Bitcoin's proof-of-work target which is a fixed target value applying to every node. King, who also created Primecoin , is a pseudonym.