PPCoin: Peer-to-Peer Crypto-Currency with Proof-of-Stake
Sunny King, Scott Nadal

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Type: Paper
Tags: Crypto, Currency, p2p, Peer to Peer, PPCoin, PeerCoin

title = {PPCoin: Peer-to-Peer Crypto-Currency with Proof-of-Stake},
journal = {},
author = {Sunny King, Scott Nadal},
year = {2012},
url = {http://www.peercoin.net/},
license = {},
abstract = {A peer-to-peer crypto-currency design derived from Satoshi Nakamoto's Bitcoin. Proof-of-stake replaces proof-of-work to provide most of the network security. Under this hybrid design proof-of-work mainly provides initial minting and is largely non-essential in the long run. Security level of the network is not dependent on energy consumption in the long term thus providing an energy efficient and more cost-competitive peer-to-peer crypto-currency. Proof-of-stake is based on coin age and generated by each node via a hashing scheme bearing similarity to Bitcoin's but over limited search space. Block chain history and transaction settlement are further protected by a centrally broadcasted checkpoint mechanism.}