Neucoin

NeuCoin is a decentralized peer-to-peer cryptocurrency derived from Sunny King’s Peercoin,which itself was derived from Satoshi Nakamoto’s Bitcoin. As with Peercoin,proof-of-stake replaces proof-of-work as NeuCoin’s security model,effectively replacing the operating costs of Bitcoin miners (electricity,computers) with the capital costs of holding the currency. Proof-of-stake also avoids proof-of-work’s inherent tendency towards centralization resulting from competition for coinbase rewards among miners based on lowest cost electricity and hash power.