What does Peercoin mean?

Peercoin is one of the older cryptocurrencies, having been created and introduced to the world in 2012 by Sunny King. It uses the same SHA-256 algorithm used by Bitcoin, but has a hybrid Proof of Work / Proof of Stake consensus mechanism.

It is also known as PPCoin or Peer-to-Peer Coin and was once one of the most popular cryptocurrencies, but as of April 2018 it is #205 in market cap.