Altcoins – Peercoin enters Vault of Satoshi
The digital currency came into existence with bitcoin leading the part. But, the table is turning and the altcoins are taking over the run with bitcoin at heel. Does Peercoin, another altcoin, have what it takes to beat bitcoin at its own race?
As the first to introduce PoS along with PoW, Peercoin has earned it’s spot as the third largest cryptocurrency, placing it one step ahead of the other altcoins. Peercoin though based on the same algorithm as bitcoin has made a significant impact with the mechanism of PoS and transaction fees reduction well in place. Evolution is on fire with altcoins as more entrepreneurs are turning towards the successful altcoins. The generation of currency doesn’t depend on the transaction fees unlike bitcoin, thus giving its peers no transacting and no mining according to King.
UK Welcomes Peercoins:
UK which has agreed to let only Bitcoin along with Litecoin and Feathercoin, has finally given the ‘go’ nod to two other altcoins namely- Peercoin and Worldcoin. The Peercoin is now on sale and available at Bittylicious, a Virtual Currency Exchange based in UK. You might be wondering on what changed their mind. Apparently, the altcoin has got the positive sign with its innovations and increased sellers when compared with the other altcoins that are struggling to keep up with the pace of the digital currency. The reason for allowing Peercoin to enter the race alongside bitcoin is because of the proof of stake system protocol that it runs on. With control in the hands of the people, the government is said sayonara to!
The Vault of Satoshi:
Peercoin has had a pretty decent end last year with the Canadian exchange Vault of Satoshi accepting it to be on the scale with the official currency. Effort has been put in to see that the proof of stake stays. The proof of stake is vital mainly because it depends on the currency that is already held and even more due to Peercoin being the first to implement it. The low inflation and stability are some of the other features that make these altcoins survive and thrive in the digital world.
Though Bitcoin seems to be holding the client stream well under control, with the slightest stumble, it has a queue of altcoins waiting to take its place and Peercoin is not one to go easy on its peers!