All the infrastructure is in place to make it a major coin. Peercoin for example has a 100+ million market cap, but only 550 tera hash to secure its network. Compare that with iXcoin with 10,200 tera hash. Also, I don't see any new PeerCoin innovation, their client is still back on version 0.6 or something.
PeerCoin doesn't really need hashes to secure the network, it's secured by other means.
You are entirely mistaken. PPC proof of work secures the network, PPC proof of stake keeps the network moving when there aren't enough miners to secure the network. You can see how it works by just looking at the block explorer. When miners can't keep up with the difficulty, PoS kicks in.
My point however is that hash rate determines cost to acquire coin and therefore has an affect in price. So if Peercoin has only 10,200 tera hash, the hash required to acquire PPC is less than that of IXC. Of course, to be fair IXC is merged mined and pooled mined with BTC, NMC and IXC. While PPC is mined individually.
So the real equation can be seen in the coinwarz calculatios:
For the same GHs -
PPC is 96%
Merge Mine - BTC (100%) + NMC (1.71%) + IXC (.15%) + DVC (.01%).
So in other words, for the same hash power, if you get paid $96 for mining PPC, you will get only 15 cents worth of IXC and $100 worth of BTC.
Over time as the price of NMC, IXC and DVC go up, it become less and les economical to mine PPC. So long term ... PPC mining is a losing proposition.
