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What is the difference between Bitcoin, Primecoin and Peercoin
Crypto currency is becoming more and more, and for the bulk of the population they are all "one person". The difference between bitcoin, Primecoin and Peercoin is known only to a person who is aiming at crypto currency or is a programmer. Meanwhile, the difference between the first crypto currency and its derivatives is significant.
At the beginning was bitcoin
Bitcoin - crypto currency, with which a new era began. All other crypto-currencies are compared with it. The first digital currency is completely decentralized, differs anonymity and simplicity of use, consists exclusively of chains of the code, provides high speed of calculations worldwide. And the number of bitcoins is strictly limited, and very soon the issue for the mining of this currency will be cut by half.
Peercoin: payment system
Peercoin is an electronic payment system and crypto currency, created on the basis of Bitcoin. However, Peercoin and Bitcoin have less in common than it seems. On a closer look, you can see that the two digital currencies combine only the SHA-256 mining algorithm. Even the decentralization of pirkoin can be questioned. The system that worked in Bitcoin was improved by the developers of Peercoin. As a result, it has acquired several features. For example, it is completely protected from attack by 51% (although this fact must be proved and checked). More profit with less energy is another feature of the network.
Primecoin: another fork
Primecoin is a peer-to-peer payment system based on the bitcoin code. The usefulness of all calculations is the main feature of the system. It uses only pseudo-simple numbers at each step. By the way, it is believed that this system was developed by the same person who worked hard to create Peercoin.
The main feature of the prime is the complete absence of limits - the coins will never end. In addition, the system has a scientific value, which has no network of bitcoins. Therefore, pirkoin may be more interesting for researchers. It is difficult to predict what will happen to the currency in the future, when a lot of prime mines will be produced.
Primecoin works faster than the Bitcoin network, which also provides it with certain advantages. The reward for a block is determined by how difficult the search itself was. This distinguishes the currency from the bitcoin system and makes it attractive. But it is difficult for investors to assess the potential of the primitive.