Today the rating of Peercoin was published on my webpage. Coin selection is random, based on BTC block nonces, and I am honestly happy it landed on PPC. A large majority of all cryptocurrencies I rate are garbage, which this time resulted in the second highest rating so far (the highest being BTC). This does not necessarily mean PPC is the second best protocol rated so far, it means it is the second most undervalued.

For anyone with time on their hands, please point out any misconceptions or errors in the article and I will correct it them immediately. For the rest of you, here is a TL;DR on main points that are also up for discussion. I suspect some of you might disagree with conclusions I have drawn.

Total Rating: 7/10. (1-4: Sell, 5: Hold, 6-10: Buy)

Ecology: 3/10

  • Low on-chain activity. Relatively low community activity.
  • The project is actively developed and a new webpage as well as extensive documentation efforts recently launched.
  • Long, 'clean' project history.

Technology: 6/10

  • Sound and battle tested Bitcoin Core codebase.
  • Active pool of developers.
  • Focus on a slim protocol, minimization of attack surfaces instead of bloated do-it-all blockchain.
  • Stable protocol (no large changes within short time frame) ensures money properties solidify.
  • Nothing-at-stake theoretical as of now no evidence of credible threat. Future will give more data.
  • Issuance model is sustainable and will ensure enough incentives to run full node.

Decentralization: 8/10

  • Too high initial PoW issuance. Millions of coins the first few weeks is not good.
  • Continuous PoW scheme offsets the above mistake. PoW minting is decentralizing the network for every day that passes.
  • Decentralization ethos among developers and community. Really impressed with how mining tax proposal was handled.
  • Again, focus on thin backbone protocol. Relatively high tx-fees has resulted in an incredibly small blockchain size which is good for decentralization. StakeBox (is this partnership still operational?).
  • Opt-out possibility from checkpointing. Also, they are done client-side. Can anyone confirm checkpointing is only client-side as of 0.7?

Valuation: 9/10

  • USD 12M (CMC #180, ~0.02% of BTC) is just ridiculous. I don't even have to mention the vast number of worthless projects that has a higher market cap than PPC.
  • Low inflation, combined with the fact that PPC is unusually decentralized. This means hard money on practice, not only in theory.

Full article:

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Categories: Mining