What is PIVX Coin
Private, Instant, Verified Transaction
PIVX Coin Price
What is PIVX? | A Quick Overview
PIVX means: private, instant, verified transactions. That is the basis of what PIVX is. A community-centered blockchain currency for quick transactions.
This cryptocurrency aims for private, fast, and secure transactions for anyone using their product.
The History of PIVX Coin
The company launched February 1st, 2016 with the name Darknet or DNET.
Then later, under a rebranding effort, Darknet became PIVX.
Being created with only self-funding, it hit the markets at $.001 and now sits over $10
Being a privacy coin, PIVX has many people working on the development and marketing.
Its two co-founders operate under analysis:
- S3v3n h4cks
- An Expert in IT infrastructure and cryptocurrency.
- Coin Server
- An sysadmin and networking expert.
- Master node Hosting Service Operator
- Web and Applications Developer
Unlike many of the Cryptocurrency companies, this is a privacy-based coin which lends credit to its founders and developers keeping their identity private.
The Purpose of PIVX Cryptocurrency
This cryptocurrency believes that everyone has the right to exchange privately and securely, “without interference from corporatocracy pressures, governmental influences, prying eyes, and nefarious individuals and movements.”
What that means is that this is a privacy coin developed for stealth and security.
The Features of PIVX Coin
This is a protocol for full privacy in transactions for the users.
Zerocoin converts publicly view-able PIV into anonymous PIV (zPIV.) Once this is sent from one user to another it shows up as PIV with no recollection of it becoming zPIV.
Using a network of masternodes, swifttx transactions are confirmed and spendable within seconds with no need to wait for confirmation.
CodeBase: PoS 3.0 Bitcoin Core 0.10.x
With this code base, proof-of-stake allows anyone to get the most out of staking by keeping your wallet up at all time.
Strengthening the network by resulting in more available nodes.
See-Saw Rewards Mechanism
Based on the number of coins held for masternodes and amount of coins available for staking on the network allows for variable rewards based on the needs of the network.
Keeping the network masternodes and security evenly distributed for reward.
This creates a see-saw effect where they balance out.
Masternodes allow nodes to offer network service abilities in a decentralized and efficient manner.
This requires 10,000 PIV as collateral allowing the owner to vote on budget and development proposals.
Because this makes the structure of PIVX network, they are rewarded more than just regular proof-of-stake users.
What We Think of This Cryptocurrency
PIVX is a privacy coin that offers the user a few awesome features.
With routing through TOR, masternodes, PoS, and their other features it certainly is an interesting coin.
While we aren't hodlers yet, we may investigate and invest in the future.
If you liked this review and want to help support the academy donate some Pivx below!
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