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arstechnica-com-954		Wary of Bitcoin? A guide to some other cryptocurrencies | Ars Technica			.html	text/html	2178	150	72	Peer-to-Peer Coin, or PPCoin for short, presents itself as an improvement upon Bitcoin by changing one of the latter's fundamental ideas: proof-of-work. Beyond improving security—it's a lot harder to steal PPCoin than Bitcoin this way—it reduces the chance of a 51 percent attack by making the counterfeiting of coins extremely difficult. Beyond improving security—it's a lot harder to steal PPCoin than Bitcoin this way—it reduces the chance of a 51 percent attack by making the counterfeiting of coins extremely difficult. Instead, the combination of proof-of-work mining (as with Bitcoin) and proof-of-stake mining (which comes from using coins for transactions) gives the currency a steady growth in size that, its developers claim, equals roughly one percent per year. Freicoin developer Mark Friedenbach told Wired.co.uk through e-mail what this means: "[Demurrage] can be thought of as causing freicoins to rot, reducing them in value by ~4.9 percent per year.	./cache/arstechnica-com-954.html	./txt/arstechnica-com-954.txt