What is PIVX?
Mar 15, 2017 — What is PIVX?
PIVX, Private Instant Verified Transaction, is a privacy focused, decentralized, open source cryptocurrency run by a global community run by creators, innovators, and technology-enthusiasts.
How is it different than Bitcoin and Dash?
PIVX is a DASH fork but using PoS instead of PoW for consensus. This means it’s not HW mineable. PIVX has a fixed sized block reward yet dynamically alters the reward split between masternode and staking nodes using a custom seesaw algorithm. (we have a white paper written for this) It's also based on a more up to date Bitcoin 0.10.x core with some 0.13.2 stuff committed already. Another key difference will be later on as we are working on implementing the libzerocoin protocol. There are no other PoS crypto that has zerocoin protocol implemented currently so our devs are trying to make PIVX the very first PoS coin with it. We are also going to use non-optional minting of zerocoins meaning PIVX will have proper air gap anon transfers running full time. We also believe strongly about having an inclusive governance so we are going to improve this area also in the near future.
What are the features of PIVX that makes it unique?
People often ask why they should choose PIVX above other crypto currency, here is a short list of features that make PIVX stand out from the crowd.
PIVX is an anonymous Peer-To-Peer currency.
PIVX is working towards Private Instant Verified Transactions as its default transaction.
PIVX is Community Driven
PIVX uses Blackcoin’s improved Proof of Stake 3.0 protocol instead of Proof of Work. So it is more efficient in keeping the network secure than PoW.
PIVX has incredibly low transaction fees that are typically a fraction of a penny due to the PoS efficiency. This means it is perfect for micro-transaction business pricing models that previously existed using Bitcoin.
PIVX had no ICO. Pre-mined coins to start the chain were publicly burned.
PIVX is based on Bitcoin 0.10.x core which means it is more up to date than most other PoS digital currencies that commonly use a lower Bitcoin core version.
PIVX uses an innovative variable Seesaw Reward Balance System that dynamically adjusts its reward to masternodes and staking nodes. (See white-paper section.)
PIVX has a very large and growing active community on multiple social networking sites such as BCT, Slack, Reddit, Twitter, Riot, Gitter, Facebook etc.
PIVX community also uses Trello for publicly accessible task planning and management.
PIVX has a highly active, accessible and responsive development team.
PIVX is available to trade on multiple exchanges including Bittrex with plans to be added to larger exchanges.
PIVX currently has a monthly decreasing block reward inflation with it reaching its final low inflationary rate of approx. 4.8% pa beginning mid-May 2017.
PIVX has a repository of guides with more planned including video guides and materials.
PIVX has had consistently higher profitability percentage compared to other digital currencies utilizing masternodes such as DASH since launch and even now.
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