Peercoin wallet

Peercoin is the original PoS cryptocurrency, and enables any node to participate in the staking process with its native PPC coin. However, Peercoin utilizes a hybrid PoS/PoW mechanism for the network, with PoS operating as the security and voting component, and PoW mining used to more fairly distribute PPC coins to users.

The hybrid consensus design is primarily crafted to enforce balance the distribution and security of the network over time. Miners mine PPC coins, which are then sold on exchanges for profit, purchased by stakers, who subsequently use them to mint blocks via the PoS block minting process. Miners enable a continual distribution of PPC coins to PoS minters in a more egalitarian fashion.

Stakers in the network can participate in the governance of the network through on-chain voting that determines the direction of the protocol.

Voting is carried out through a process called “Proof-of-Stake Minting,” and is correlated to the stake of PPC that users hold. Voting through this mechanism makes protocol changes more dynamic than off-chain governance procedures, such as those conducted with Bitcoin and Ethereum.

PPC coins are perpetually inflated at a rate of 1 percent annually, but notably, are only distributed to stakeholders that participate in the minting process.

When you first buy asset, you’re issued with two keys: public and private.

• A public key serves as an address that can be shared with other parties to perform transactions.
• A private key represents a randomly generated number that signs transactions and protects your assets from malicious attacks. If it gets compromised or lost, you won’t be able to access your crypto wallet to spend, withdraw, or transfer your cryptocurrencies.

To safeguard and keep track of your keys, you can use online or offline wallets. Online wallets, also known as hot wallets, store private keys on systems or devices that are connected to the internet. Hot wallets are easy and convenient to use, however, they come with several drawbacks. Besides being susceptible to attacks and a honeypot for hackers, with hot wallets, the custody of private keys is often entrusted to a third party such as a crypto exchange, which means you never have full control over your funds. The safer choice are specialized hardware wallets that store private keys offline. Stealing private keys from a hardware wallet would require physical access to the wallet and corresponding PIN or the recovery phrase. What’s more, with hardware wallet, you don’t need to rely on third party custodians.

Ledger Nano is the industry-leading hardware wallet. With more than five million customers, Ledger Nano wallets have several layers of security that protect private keys, and hence your assets:

• Your private keys are stored on secure element chips.
• A PIN code and a 24-word recovery phrase are required to access the wallet.
• Ledger Nano wallets have been built using highly durable materials for protection against physical damage.

With full isolation between private keys and your computer/mobile, Ledger Nano hardware wallets keep your keys secure and give you complete control over your cryptos.