Invented in 2012, Peercoin is one of the most reliable cryptocurrency networks. In the year 2014, the annual inflation rate of Peercoin averaged by 5%. It is the first proof-of-stake cryptocoin that does not need massive computing power in order to secure the network. The network of Peercoin uses Proof of Work and Proof of Stake mining.
Proof of Stake mining is used to maintain the network’s security and Proof of Work mining spreads the distribution of coins. This ultimately decreases Bitcoin mining vulnerabilities like Selfish Mining that will not impact the security of Peercoin. Similar to Bitcoin, the cryptocoin uses SHA-256 algorithm for mining. In addition, Peercoin can be mined through any mining hardware that works on Bitcoin.
Peercoins can be mined through CPU and GPU, you just have to choose the efficient hardware. In addition, you can also mine Peercoins by joining a mining pool. In case, you do not want to join the mining pool, then you can opt for cloud mining.
Apart from all this, to get started with Peercoin, follow the below-mentioned steps –
• Install a Peercoin Wallet
• Earn few Peercoin from the largest Peercoin Exchange
• Use those Peercoin
• Stay Updated