Could Peercoin and “Proof-of-Stake” Turn Bitcoin Into The Myspace of Cryptocurrency?

peercoinThe thought alone is blasphemy to some..

As crypto explodes and segregates into multiple camps – all touting the supposed superiority of their respective coins – Things are starting to feel very “tribal”, to say the least.

Discussion of Bitcoin alternatives usually ends up with emotional investment, getting in the way of logical progression.

As much as we support Bitcoin – as not only a high tech financial instrument, but also an ideology – it remains important, especially if there’s skin in the game – to keep the open minded approach that made Bitcoin possible in the first place.

And while it does seem likely that Bitcoin will retain it’s position of dominance in the digital currency realm for the foreseeable future..

Anything can happen, and it’s seems rather prudent at this stage of the game to maintain an unbiased, and open perspective – making sure to logically consider all developments and possibilities.

There is certainly a plethora of both.

One of the more promising of these is Peercoin, a hybrid proof of work / proof of stake coin that attempts to evolve the Bitcoin protocol and in doing so; solve many of the potential problems that could lay on the horizon for Bitcoin.

Below, we’ll attempt to layout the fundamentals of Peercoin, how it differs from Bitcoin, and do what any good crypto enthusiast does: speculate.  [Read more...]