Bitcoin, Ether, Dash and now also the Peercoin price: it seems that the market value of the whole digital currencies world is growing.
Recently, in fact, Peercoin price surged of about 20% in the latest hours.
In fact, at the press time, its value reached $0,477882 (22.49%) or 0.00037581 BTC (20.82%).
Also, Peercoin market cap reached $10 M a few hours ago.
Peercoin was the first digital currency to use the proof of stake (PoS) consensus system back in 2012.
Peercoin was created back in 2012 by Scott Nadal and Sunny King. Sunny King, who also created Primecoin, is a pseudonym, a common behavior in the crypto community (do you remember who Satoshi Nakamoto is?).
Proof-of-stake’s protocol was created to solve the high energy consumption of bitcoin.
The proof-of-stake system was also designed to solve vulnerabilities that could occur in a pure proof-of-work system.
For example, with bitcoin there is a good risk of attacks resulting from a monopoly on mining share. As Proof-of-stake becomes the primary source of coin generation, energy consumption decreases over time.
Now Vitalik Buterin – or the Ethereum blockchain creator – and his Ethereum community want to exploit this algorithm to improve their technology. So, recently everybody in the digital currency world has heard about the proof of stake and Peercoin system.
Could this be one of the reasons for this Peercoin price growth? Is it a result for a growing curiosity behind the PoS tech?
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