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Definition: Peercoin

A cryptocurrency that uses both proof-of-work (PoW) and proof-of-stake (PoS) consensus methods. Launched in 2012 and like Bitcoin, Peercoin uses PoW to have a wide distribution of crypto and PoS for security purposes. Peercoin (PPC) is touted as the first true peer-to-peer crypto because the entire Peercoin community is able to mint coins and set its price. See cryptocurrency and crypto glossary.