PIVX is a cryptocurrency for Private Instant Verified Transactions (or exchanges). It is a decentralized and open-source project that aims to provide users with financial data protection, fast and secure transactions, and community governance. We will explore the origins, features, and potential of PIVX crypto.
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PIVX was launched on January 30th, 2016, as a fork of Dash, another privacy-oriented cryptocurrency. PIVX inherited some of the features and technologies of Dash, such as the primary node network, the PrivateSend and InstantSend functions, and the self-funding treasury system. However, PIVX also introduced significant changes and improvements to differentiate itself from Dash and other cryptocurrencies.
One of the main changes was the switch from the Proof of Work (PoW) consensus protocol to the Proof of Stake (PoS) protocol. This means PIVX users can stake their coins to secure the network and receive rewards instead of using expensive, energy-intensive mining hardware. PIVX was one of the first cryptocurrencies to adopt PoS and has since continued to innovate and optimize its PoS mechanism.
PIVX has several features that make it stand out as a privacy-focused and decentralized cryptocurrency. Some of these features are:
– PIV: PIV is the native currency of PIVX, which can be used for public or private transactions. PIV has a variable block reward that depends on the number of staked coins and the difficulty level. The block reward is split between stakers (45%), masternodes (45%), and the treasury (10%).
– zPIV: zPIV is the anonymous version of PIV, which can be minted and spent using the Sapling privacy protocol. zPIV transactions are shielded from public view and require zero-knowledge proofs to verify their validity. zPIV has a fixed denomination of 1 PIV and can be converted back to PIV at any time.
– Masternodes: Masternodes provide additional services to the network, such as PrivateSend, InstantSend, and governance voting. Masternodes require 10,000 PIV as collateral and receive 45% of the block reward as compensation.
– Treasury: Treasury is a self-funding mechanism that allocates 10% of the block reward to a fund that supports the growth and maintenance of PIVX.
– Cold Staking: Cold Staking is a feature that allows PIVX users to stake their coins while keeping them in a cold storage device, such as a hardware wallet.
PIVX was launched in January 2016 as a fork of Dash, another privacy-oriented cryptocurrency. PIVX started with a low price of $0.0004 and remained relatively stable for the first year. However, in 2017, PIVX experienced a massive surge in price, reaching an all-time high of $14.56 in January 2018. The increasing demand for privacy coins and the growing popularity of PIVX as a pioneer of PoS and privacy technologies drove this.
Current Price Analysis:
The current price stands at $0.33 .It has a market cap of $23.6 million with circulating supply of 72.6 million tokens and trading volume of $3.7 million. Let’s look at the chart for further analysis:
PIVX has much potential as a privacy-focused decentralized cryptocurrency offering users financial data protection, fast and secure transactions, and community governance. PIVX has a loyal and active community that supports its vision and values. PIVX also has a dedicated and skilled team of developers that constantly work on improving and innovating its technology and features.
Some of the plans and goals of PIVX include the following:
– Implementing interoperability with other blockchains and platforms
– Developing mobile wallets with full privacy functionality
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