What is PIVX?

PIVX (Private Instant Verified Transaction) is a DFS-based privacy-centric proof cryptocurrency. The PIVX declaration focuses on the decentralization projects of community governance and technology itself, and how project proposals are voted and implemented. As the name implies, PIVX is trying to build a usable digital exchange that is easy and safe to use in everyday life. For this reason, the main focus of development is to minimize transaction time and costs while maintaining privacy and security. The PIVX community is dynamic and global. There are active people on all major chat platforms (Discord, Reddit, BitcoinTalk, etc.) as well as public roadmaps and resources to help interested investors and community members understand the technology and participation.

The details about PIVX

PIVX was initiated by two members of the DASH community on January 31, 2016. The founder admires DASH technology but hopes to see some changes. Contrary to DASH’s proof-of-work system, they turned to a completely unprovable system and implemented what they saw as a fairer reward system that uses a seesaw mechanism to automatically balance reward payments (this has moved into more of the following loft Part of the details).

They see privacy as an important part of daily exchanges and set about combining DASH’s “digital cash” spirit to prioritize fast, cheap payments over more advanced privacy and anonymity. They want to be the preferred payment method for peer-to-peer transactions and in-store transactions.

Conclusion

PIVX is a promising privacy coin designed to be an easy-to-use digital cash replacement. There are some minor issues surrounding the implementation of privacy technology, but the community and development teams are active, involved, and optimistic. It performed well in the market, and the large number and support of the major exchanges (most notably Bittrex) seemed to be there for some time. PIVX brings some unique value to the table with its advanced Proof-of-Stake algorithm and decentralized community-guided governance model.

Asked on June 30, 2018 in Altcoin.
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