Peercoin — Rise and Fall. Is it Rising Again?
Peercoin is often called the third cryptocurrency after Bitcoin and Litecoin. Even though its price falls it always finds power to rise.
Peercoin is often called the third cryptocurrency after Bitcoin and Litecoin. It even reaches $7 per coin sometimes. But along with that it has also fallen to $0.40 and below often, but has always found power to rise again.
The PoS technology forever changed the cryptocurrency market, though Peercoin (PPC) has already quitted the stage. It is the fifth year of existence of this cryptocurrency which originates since the August, 2012.
History of Peercoin price fluctuation
At the beginning of April, 2014 this coin appeared on the exchanges with an initial price of $0.38 - $0.42. Then Peercoin began falling and many were happy to get rid of it at the price of $0.12 - $0.16 in the summer and fall of 2013.
In November Peercoin made a sharp rise and by the November 30th traders received $7.3 for one Peercoin. It gave the general capitalization of the coin of $153 266 894. Those who bought Peercoin until its entry into the exchange at the price of 10 000 Peercoin for one Bitcoin were especially glad — it allowed them to gain about $70 000 for one Bitcoin. Having drawn a double top on the price chart, Peercoin began falling continuously throughout all of 2014, and in January, 2015 Peercoin again reached the price of $0.42.
During the year 2015 the price fluctuated round $0.40 though there were tops like in July, 2015 when the price reached the level of $0.76. It inspired optimism in users of Peercoin. Now they hope to see new price records in 2016.
What made it so interesting to use
The reason for Peercoin’s popularity at first was the novelty of its technological basis. PoS allowed users to earn simply while storing coins. The mining of Peercoin is smoother and more predictable, than mining Bitcoins. Thus the rewards that miners get decreases gradually, not in jumps.
Using the same algorithm of encryption as Bitcoin, Peercoin is 100 times more energy efficient. Transactions in the Peercoin network are quicker and cheaper. Probably, if there was not such competition in the cryptocurrency world, Peercoin would become one of the main cryptocurrency because of its features.
However, 2014 and 2015 were full of many other interesting novelties coming to the cryptocurrency market. Unlike DASH, Peercoin couldn't provide anonymity. Transactions in Dogecoin became faster and cheaper, than with Peercoin. Thus, the PoS technology stopped being an advantage only of Peercoin, and started being used widely.
Interest of users moved at first towards mining on CPU, then towards "smart contracts", and people gradually started forgetting PPC. However, we should be thankful that developers didn't throw the cryptocurrency into limbo.
Peercoin in 2016
In 2016 the Peercoin developers will prepare many technological novelties. Sunny King brings news every week and the program code is constantly updated. Interest of miners in this cryptocurrency doesn't weaken. It gives us hope that the price will make a start from $0.42 and to new tops more than once now.