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What is Peercoin(ppcoin)?
Peercoin(ppcoin) is one of the truly unique coins that are not just a clone of the original Bitcoin code. Peercoin is the first coin to introduce a proof-of-stake/proof-of-work combination along with other energy efficient mechanisms. In fact, many altcoins are now integrating Peercoin's proof-of-stake into their codebase.
Maintaining the network through the hybrid proof-of-work/proof-of-stake algorithm reduces the risk of the Selfish-Miner Flaw, 51% attacks, and the block bloating that have been used to exploit other currencies.
Peercoin's original innovation is the proof-of-stake/proof-of-work hybrid system. Like other cryptocurrencies, initial coins can be mined, but the core network is maintained by coin holders, rather than the fastest pool.