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peerchemist committed Jan 6, 2019
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# Proof-of-Stake

>Peercoin uses both the Proof-of-Work and Proof-of-Stake algorithms. The PoW algorithm is used to spread the distribution of new coins. Up to 99% of all peercoins is created with POW. Proof-of-Stake is used to secure the network: The chain with longest POS coin age wins in case of a blockchain split-up.
>Peercoin uses both the Proof-of-Work and Proof-of-Stake algorithms. The PoW algorithm is used to spread the distribution of new coins. Up to 99% of all Peercoins is created with PoW. Proof-of-Stake is used to secure the network: The chain with longest PoS coin age wins in case of a blockchain split-up.
`Minting`, as it is called in Peercoin to make a proof-of-stake block, is based on metrics of an unspent transaction.
If we take a look at the number one spot of the rich list, transaction c7293fc60c80bdcc374775d1f0734e0766465b905bae1a312fe487793be3b8f7 has among others the following characteristics:
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# Mining

Since Peercoin is a fork of Bitcoin, is uses the same SHA-256 encryption and protocol for mining. This means anything that any hardware that can mine BTC can mine Peercoin as well. For the majority of people, joining a mining pool will bring the highest profit versus solo mining.
>Peercoin uses both the Proof-of-Work and Proof-of-Stake algorithms. The PoW algorithm is used to spread the distribution of new coins. Up to 99% of all peercoins is created with PoW. Proof-of-Stake is used to secure the network: The chain with longest PoS coin age wins in case of a blockchain split-up.
To mine Peercoin, you need a mining software. Below is a list that is not official endorsed but have been found to have a decent reputation.
Peercoin uses the hashcash double iterated SHA-256 algorithm for [Proof-of-Work mining](https://en.bitcoin.it/wiki/Proof_of_work). This means anything that any hardware that can mine Bitcoin can mine Peercoin as well.

-BFGMiner
-CGMiner
-EasyMiner
-GUIMiner
To mine Peercoin, you need a mining software. Below is a list that is not official endorsed but have been found to have a decent reputation.

* [BFGMiner](http://bfgminer.org/)
* [CGMiner](https://github.com/ckolivas/cgminer)
* [EasyMiner](https://easyminer.net/)

There are others, but this list can be used as a starting place. Each will request pool or solo information and should come with the related support.

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## Mining Confirmations

Once a block has been mined, 520 blocks must be passed for the mining to be confirmed. This is roughly 3.61 days of time.
Once a block has been mined, 520 blocks must be passed for the mining to be confirmed. This is roughly 3.61 days of time.

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