The number of crypto-clones that appeared after the Bitcoin boom has exploded during this year, but there are other coins that came before and are turning into serious cases of popularity. Peercoin is definitely one of them and this infographic will quickly show you why! It’s more useful and considered an evolution when compared to the mother of all digital types of money: the mighty Bitcoin.
According to the experts, the popularity of these new virtual currencies has been boosted by the value escalade that positively affected Bitcoin during 2013. In just one year, the exchange rate against the US dollar rose more than seven thousand percent and this prosperity is making other digital currencies grow as well.
But, again, among names like Alphacoin or Fastcoin, there are a few that stand out and Peercoin is in the front row. Like many other sisters, this coin is a “copy” of Bitcoin based on the same principles, but presenting significant and very important changes. There’s still no central management or official regulation, but Peercoin is different in other ways. Especially because it converts the mining efforts and the energy spent during this process into something useful.
Peercoin was created in August 2012 by the software developer Sunny King, inspired by Bitcoin’s source code and its technical implementation. King also went on to develop Primecoin, another type of digital cash.
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Near the end of 2013, one Peercoin was worth nearly $6.04, turning the awesome cryptocurrency into the third largest of the system, now with a money supply valued at $126 million. Unlike Bitcoin and Litecoin, the first dwellers of the podium, Peercoin doesn’t have a hard limit on the number of possible coins that can be mined. That is why it is designed to eventually attain an annual inflation rate of one percent. The goal is a greater long-term scalability, as the numbers on this infographic will show you.