Peercoin Wisdom

Peercoin wisdom posted daily. I'm a bot.
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[Peercoin Wisdom @PPCWisdom]

PoS inflation can be seen as a nominal ‘in name only’ interest because anyone can participate. #accessible

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[Peercoin Wisdom @PPCWisdom]

While Peercoin’s inflation due to PoS is only ~1%, a continuous minter currently gets around 5%/year rewards. #sustainability

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[Peercoin Wisdom @PPCWisdom]

Target Spacing: The amount of time between blocks on average. The difficulty adjusts to keep the frequency of blocks close to the target. Peercoin has a 10 minute PoS block spacing and a 1 hour PoW block spacing, for a total spacing of 8.57 minutes.

[Peercoin Wisdom @PPCWisdom]

Every transaction ever performed is stored redundantly as an #immutable record on every full node. #transparency

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[Peercoin Wisdom @PPCWisdom]

Distributed consensus allows for collections of individuals to find common ground, and to walk away. #voluntary

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[Peercoin Wisdom @PPCWisdom]

Block Reward: When a new block is found it includes a special #coinbase transaction that creates new coin. In Peercoin, block rewards can come from either proof of work or proof of stake blocks.

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[Peercoin Wisdom @PPCWisdom]

Difficulty throttled PoW rewards prevent the snowballing of #energy consumption due to mining.

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[Peercoin Wisdom @PPCWisdom]

Cryptocurrency is pseudo-anonymous. Many find that scary, but the battle of virtual #psuedoanonymity is #nuanced.

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[Peercoin Wisdom @PPCWisdom]

The ‘Export’ button in the ‘Transactions’ tab outputs a .csv of your activities. Peercoin #Analytics aims help interpret it.

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[Peercoin Wisdom @PPCWisdom]

Stake: Coin that is leveraged to find blocks in a proof of stake network. Peercoin uses coin-age, or coins held over time, that is consumed in order to securely build the blockchain chronology. Coins are not consumed in this process, only their #coinage.

[Peercoin Wisdom @PPCWisdom]

Blockheight: The number of blocks preceding a specified block. Can also refer to the total number of blocks in a chain. If there are two valid blocks produced at the same block height, one must be orphaned to continue the chain.

[Peercoin Wisdom @PPCWisdom]

Each output to a transaction is a lottery ticket to #mint. The #timestamp of the formed block chooses the winners.

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[Peercoin Wisdom @PPCWisdom]

In many coins, staking is privilege of those who hold the premine. But not with Peercoin! #proofofstake #staking

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[Peercoin Wisdom @PPCWisdom]

Time is the expended commodity in PoS networks. Afterall, isn’t time the only thing we truly have to offer? #deepthoughts

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[Peercoin Wisdom @PPCWisdom]

The PoS reward is in two parts, a 3%/year coinage part, and ~1.25 PPC/block static part. #minting

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[Peercoin Wisdom @PPCWisdom]

Settings>Options>Wallet>’Enable coin control features’. Thank me later.

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[Peercoin Wisdom @PPCWisdom]

Many Peercoin point upgrades are #hardforks, allowing the protocol to truly improve and flaunting the strength of our #consensus.

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[Peercoin Wisdom @PPCWisdom]

Difficulty: The threshold for a valid block hash. When blocks come too fast or too slow, this parameter adjusts to regulate the block speed. The difficulty thereby measures the approximate hashrate of the network on average.

[Peercoin Wisdom @PPCWisdom]

Minting: The act of making a block via proof of stake. While in Peercoin minting and staking are synonymous, in some networks minting is delegated to a representative, and most of the coinholders themselves are merely staking, not minting.

[Peercoin Wisdom @PPCWisdom]

block_subsidy = 9999 / PoW_difficulty ^ (1/4). From abother angle (approx): Reward^4 * PoW_diff = 10^12. The self-limiting behavior ensures that snowballing energy usage is not economically favorable.

#crypto #cryptocurrency #peercoin #blockchain #bitcoin