PIVX is a Private Instant Verified Transaction (Tx) MIT open source licensed decentralized PoS Blockchain based cryptocurrency. In this article, as Kriptokoin.com, “What is PIVX?” We will answer the question. In addition, we will touch on other questions about the project.
What is PIVX? What Does It Do?
PIVX or Privacy Instant Verified Transaction (PIVX) is a decentralized, open source cryptocurrency. It is based on the principle of anonymity of users. PIVX is a DASH cryptocurrency fork that uses only the best of DASH and Bitcoin. The operation of the cryptocurrency is currently based on the Proof of Stake protocol. However, the Proof of Work protocol was used for the first half year.
PIVX focuses on transaction privacy, modifiability, community management, and real-world use. At its core, PIVX relies on the following key features:
Dash/Bitcoin core source code: PIVX was based on Dash’s source code. It has since been forked from the source code of Bitcoin, which has been enhanced with a customized PoS algorithm and a proprietary privacy protocol.
Customized Proof of Stake algorithm: It aims to improve both decentralization and energy efficiency, alongside the introduction of a community voting governance system whose sole purpose is to make it “the ultimate people’s exchangeable cryptocurrency.” Since its transition from PoW to PoS in August 2016, PIVX has been a blockchain based solely on block generation from the Proof of Stake consensus algorithm. Block issuances are made by stakers who are PIVX holders held in a PIVX wallet.
Masternode network: PIVX also has a second-level masternode network that allows users to set up a private full-node wallet if they have 10,000 PIV as collateral. These masternodes participate in decentralized treasury voting management and receive a portion of the block reward in return. This system is actively used. In addition, many offers are paid by the treasury every month in a completely decentralized way.
What is PIVX Coin?
PIVX coin is the native token of PIVX. Cryptocurrency was originally created to solve the privacy issues that some cryptocurrencies have. In most cases, users can actually find the Blockchain cryptocurrency transaction. To change this, PIVX has implemented the Zerocoin protocol, which can solve this problem.
PIVX Project Team
The team consists of both members whose masternode proposal is voted on and funded, and community-supported members who contribute their time voluntarily. There are more than 10 core members with over 30 community members helping and contributing to many different tasks to ensure the maintenance of the PIVX project and community.
What is PIVX? How to Buy?
The token of the project is currently traded on numerous cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where PIVX is traded are listed as follows: Binance, KuCoin, CoinEx, YoBit. Users who want to invest in the project should open an account on one of these exchanges.
