{"id":3604,"date":"2020-08-31T04:08:58","date_gmt":"2020-08-31T02:08:58","guid":{"rendered":"https:\/\/holytransaction.com\/blog\/?p=3604"},"modified":"2023-01-14T02:11:11","modified_gmt":"2023-01-14T00:11:11","slug":"staking-ppc-peercoin-on-holytransaction-wallet","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2020\/08\/staking-ppc-peercoin-on-holytransaction-wallet.html","title":{"rendered":"Staking PPC: Staking Peercoin on HolyTransaction Wallet"},"content":{"rendered":"<p><span style=\"font-family: Calibri Light, sans-serif;\"><span style=\"font-size: xx-large;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3606\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2020\/08\/peercoin-staking-holytransaction-wallet.png\" alt=\"peercoin staking ppc holytransaction wallet\" width=\"1024\" height=\"512\" \/><\/span><\/span><\/p>\n<h2><span style=\"font-family: Calibri Light, sans-serif;\"><span style=\"font-size: xx-large;\">Staking Coins: Staking Peercoin<\/span><\/span><\/h2>\n<p>Bitcoin and many other early cryptocurrencies use a consensus model known as proof of work. This requires powerful computers to perform cryptographic problems that verify transactions on a blockchain. Peercoin originated an alternative to this that is used in many cryptocurrencies.<\/p>\n<h3 class=\"western\">Proof of Stake Originator<\/h3>\n<p>Peercoin introduced the concept of proof of stake, an alternative to the proof of work consensus model. In its initial stages, proof of work played a large part in the consensus model since it was a fork of Bitcoin. But the original proof of work-dominated model has almost fully given way to proof of stake. This is more environmentally friendly, removes the need for purchasing expensive mining equipment and allows transactions to be performed a lot more quickly than on proof of work blockchains.<\/p>\n<h3>Stake Peercoin on HolyTransaction Wallet<\/h3>\n<p><a href=\"https:\/\/holytransaction.com\">HolyTransaction Wallet<\/a> is excited to present to you the launch of our <strong>new staking service<\/strong>. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards.\u00a0<strong>Staking PPC<\/strong> has become much easier with HolyTransaction!<\/p>\n<h3 class=\"western\">How Does Coin Staking in Peercoin Work?<\/h3>\n<p>This act of generating a new block is called <em>minting<\/em>, however <em>staking<\/em> is a more popular term today. In Peercoin\u2019s implementation of <a href=\"https:\/\/holytransaction.com\/blog\/2014\/08\/network-security-and-proof-of-work.html\">proof of stake<\/a>, each node tries to find a new block each second. If the block is valid and backed by sufficient coinage (coins*days), it is accepted by the network. Nodes are only eligible to find new blocks when their coins have been in a wallet for 30 days. Their odds of finding valid blocks go up with the age of the coin until it reaches 90 days, at which point the probability is maxed out. Once a node finds a new block, new PPC are then <em>minted<\/em> and, for each new block, that node gets a block minting reward. After a new block has been minted, the age of the coins in the node\u2019s address that are involved in the minting is reset. The address will then not be eligible to be chosen based on those particular coins until 30 days have passed. Staking your <a href=\"https:\/\/holytransaction.com\/page\/what-is-peercoin\">Peercoin<\/a> assets does lock them up from being spent or moved. However, you can sell or spend the PPC at any time\u2014you will just lose the opportunity to mint new blocks.<\/p>\n<h3 class=\"western\">Advantages of Staking Coins with Peercoin<\/h3>\n<p>Why stake Peercoin and not other cryptocurrencies? The return on staking is lower with <a href=\"https:\/\/flyp.me\/en\/top-cryptocurrencies\/what-is-peercoin\/\">Peercoin<\/a> than with most other proof of stake cryptocurrencies. Vast majority of economic studies shows that ideal inflation is 2-3%. However, Peercoin is serious about keeping inflation low, currently at 3.33%. Peercoin&#8217;s reliance on proof of stake means that it should not suffer from the same scalability problems that have plagued proof of work platforms like Bitcoin. This means quicker transaction times and an overall better experience for retail and vending applications\u2014which means great potential for the coin&#8217;s success in the future. You can learn more about its ecosystem in the <a href=\"https:\/\/www.youtube.com\/playlist?list=PLvd1OhApu6fULYdoGIDBxlNl9qglo2vJG\">Peercoin Primer video series<\/a>.<\/p>\n<h4 class=\"western\">Conclusion<\/h4>\n<p>Peercoin was the originator of proof of stake in its whitepaper, even though it took some time for proof of stake to actually make its way into widespread use on the blockchain. Staking Peercoin and its minting process presents a great opportunity to earn coin that will, in turn, earn you more coin. All you need is just to deposit PPC to start staking on your <a href=\"https:\/\/holytransaction.com\/app#!\/signin\">HolyTransaction<\/a> wallet.<\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Staking Coins: Staking Peercoin Bitcoin and many other early cryptocurrencies use a consensus model known as proof of work. This requires powerful computers to perform cryptographic problems that verify transactions on a blockchain. Peercoin originated an alternative to this that is used in many cryptocurrencies. Proof of Stake Originator Peercoin introduced the concept of proof [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":3606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[191,334,500,1471,1473,1472,674],"tags":[871,1159,1372,1474,1327],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Staking PPC: Staking Peercoin on HolyTransaction Wallet -<\/title>\n<meta name=\"description\" content=\"Easily earn staking rewards &amp; secure crypto networks by staking Peercoin (PPC) with HolyTransaction. 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