What is PIVX? Everything You Need To Know About

Bitcoin and Ethereum are the two cryptocurrencies that are present as the largest cryptocurrency networks by market cap and are also considered to be at the forefront of media attention. But unlucky, it may also happen that their market size may be too risky for investors in the rest of the blockchain space who are relentlessly detecting the world of innovation. If you have anything to explore, visit this website.

This is the only reason why you might have heard of PIVX that it is such a coin. Apart from this, you will soon hear a lot more about it as its value proposition will come to the fore in terms of finance in the future.

What is PIVX?

PIVX plays a vital role in facilitating any kind of private instant verified transactions. Being decentralized and open source, it is completely unlike other privacy coins. Apart from this, it also includes advanced technology that can provide the utmost security, instant transactions, and anonymity to each of its users.

However, when PIVX was launched, it was forked with DASH in the year 2016 which was named Darknet (DNET). PIVX DASH exists as a proof-of-stake (POS) network, due to which it is completely unlike the protocol. At the same time, PIVX was reformed after the fork to launch its plans and vision during the year 2017. Currently, PIVX is known to be a cryptocurrency that is innovative, privacy-focused and most robust. The platform uses ZK-powered SHIELD technology that helps its users choose whether they want to receive or remit digital assets anonymously.

How is PIVX able to work?

PIVX is a coin that is a decentralized autonomous organization (DAO) and “third generation” privacy, which means that it is completely self-governing and self-funded. The platform typically uses Zcoin’s Zerocoin privacy protocol and an improved version of DASH’s masternode architecture. Furthermore, according to PIVX’s website, its network fees are about 45 times lower than bitcoin. Also, it is noted by the website that the transaction speed of 70 transactions per second is experienced by the PIVX platform.

Why is PIVX platform specific?

As we have discussed earlier, PIVX stands out as a stand-alone platform, coupled with several unique features that keep it promising in the crypto space. Some of its features are available, which we have given below:

As a leader in user privacy.

PIVX is regarded as a leader when it comes to user privacy. Furthermore, it is also available as a token that is the most innovative of all privacy-protected digital assets today. This includes the fact that PIVX allows private transactions in its protocol, making it an even more confidential and secure token.

First POS digital asset

Here if we talk about the first POS digital asset, it is PIVX comes in a form with ZeroCoin protocol level anonymity that makes it fully convertible.

Better than Dash protocol

PIVX includes many features such as confidentiality of transactions and master nodes and all DASH protocols including instant, which is considered to be significantly superior to DASH. Because they have a POS 3.0 protocol system.

PIVX’s SwiftTX technology

Typically, SwiftTX technology is used by PIVX to provide its users with a near-instant transaction experience. However, apart from these, most cryptocurrencies do not utilise SwiftTX technology.

Decentralized to the core

PIVX is able to allow all of its existing users to bet on their PIVX cryptocurrency, although the tokens are usually found in their hard wallets. Additionally, PIVX has emerged as an open source and self-governing form. No other digital asset currently offers users an incentive to run a masternode and bet. In addition, controller node rewards are up to about 10% annually.

Seesaw Algorithm

PIVX includes a separate Seesaw algorithm that plays an important role in helping to balance its reward distribution between staking nodes and masternodes.