Before We Start What is Peercoin?

Peercoin (PPC) is a peer-to-peer, decentralized, digital cryptocurrency. It is a payment network without a single point of control or issuing authority (like the US Federal Reserve). Peercoin relies on cryptography and peer-to-peer networking to validate balances and transactions. It is also the first cryptocurrency to use proof-of-stake technology, an energy efficient solution to securing its network, which was invented by Peercoin’s architect, Sunny King.

 




 

Now You Have Heard About Mining But Have You Heard About Minting With Peercoin?

 

 

Mint Anywhere

Most cryptocoin mining requires specialized hardware, but Peercoin minting can be done on any computer. Minting is energy-efficient, because it is based on the Peercoins you hold, rather than on your processing power.




 

 

 

Secure the Network

Each time your minting generates a block, your coins help guard the network. To reliably attack the Peercoin network, a malicious user must control the majority of all minting coins, which could even end up harming his own investment.
Earn a Reward




Minting earns you 1% annually. Coins are first eligible to mint 30 days after they have been transferred, and after 90 days, their chance of success is maximized. If you mint more often, your earnings will compound!

 

 

 

 

 

Follow the guide corresponding to your Peercoin client to start minting!

Peercoin Client v0.4

  1. Ensure your wallet is encrypted with a good passphrase. Write this down and keep it somewhere safe; if you forget the passphrase you will lose your coins. The wallet encryption option can be found under the settings tab in the Peercoin-Qt wallet program.
  2. To start minting go to help -> debug window -> console and enter:
    walletpassphrase abc 999999 true
    where “abc” is your passphrase and “999999” is the time you want to mint for in seconds. You can change the amount of time to whatever you like, but it is usually easiest just to set it at a very high number. If your passphrase has spaces then enclose it in quotation marks.
  3. Clear your passphrase by pressing Ctrl-L.
  4. You can check you are minting by looking at the little padlock in the bottom right corner of the client. After a few moments it should become unlocked. If you hover your mouse over it, it should say “Wallet is encrypted and currently unlocked for block minting only”.

Peerunity Client

Peerunity is a client developed by the Peercoin community. It has more features than the standard Peercoin v0.4 client, and also has an easier method for minting. It is available for Windows, Linux, and OS X. You can download it here and view the launch thread here.

  1. Ensure your wallet is encrypted with a good passphrase. Write this down and keep it somewhere safe; if you forget the passphrase you will lose your coins. The wallet encryption option can be found under the settings tab in Peerunity.
  2. To start minting, simply press the “Unlock Wallet for Minting Only” button, enter your passphrase and press OK.
  3. You can check you are minting by looking at the little padlock in the bottom right corner of the client. After a few moments it should become unlocked. If you hover your mouse over it, it should say “Wallet is encrypted and currently unlocked for block minting only”.