"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. "
What we don't like:
Sunny King paved the way for staking coins. Unfortunately, when doing so Peercoin is left in the dust. It appears Peercoin is suffering from the Myspace phenomenon. Coming out with a great product early, only to be overtaken by its mimickers.
What we like:
Peercoin was created by anonymous crypto genius Sunny King. Sunny King invented proof-of-stake mining or as he calls it, minting. Minting is commonly referred to as staking. This step was revolutionary for cryptocurrencies. This allows individuals to participate in blockchain transactions without having to own expensive mining infrastructure. Peercoin incorporates both minting and mining, giving people different opportunities to earn Peercoin.