PIVX is a cryptocurrency asset that uses a chain of blocks to conduct anonymous transactions. The shell is based on the Proof-of-Stake operation confirmation algorithm extracted from the open DASH code. The main goal of the PIVX network is to provide users with all the advantages of a decentralized exchange, while ensuring the maximum security of currency transactions.
Interesting in the section: Bitcoin Diamond – the controversial type of Bitcoin
PIVX developers pay much attention to the management and information content of the Internet with content for their users, who actively use social resources to communicate and discuss new technologies used in the blockchain networks. It is thanks to the desire to improve the performance of the DASH cryptographic platform that a decentralized PIVX network has appeared.
The command managing this project decided instead of the transaction confirmation algorithm to use the consensus of agreement, depending on the amount of the share of the resource in the chain of the block. This choice fell due to a more equitable remuneration mechanism for participants, regardless of the power of their devices. In addition, with such an algorithm of network operation, a higher level of security and confidentiality is achieved. The main task set by the founders of PIVX is to organize peer-to-peer operations and decentralized exchange in the real sector of the economy.
On the PIVX platform, Zerocoin protocol technology is implemented, which guarantees absolute confidentiality of payments and automatically monitors the number of anonymous coins to ensure the security of the network as a whole. For anonymous payment, the user needs to convert tokens into zPIV and send them to the required address.
In the near future, PIVX plans to focus on the development and implementation of a universal wallet, equipped with two-factor authentication and an additional hardware key. The PIVX purse will expand the storage functionality and use of the cryptocurrency, which will allow network users to make secure payments without intermediaries and with minimal commission fees.
Interesting in the section: 0x: development and prospects
Each year, 2.6 million PIVX coins are put into circulation, which are distributed among the network participants. 90% of the tokens are in the wallet and Masternodes, and the remaining 10% are deducted for investment projects, for which the holders of the cryptocurrency have voted. A limited amount of currency supplies ensures inflation of coins at a rate of 4% per annum. Correction of negative processes is carried out by means of destruction of network profit from transaction fees.
If you have more than 10 thousand PIVX on the PIVX-Qt wallet, you become a member of the Masternodes community which can confirm transactions and vote for certain projects. For their work, such users receive dividends in the form of PIVX coins.
To date, the network uses a mechanism for balancing fees for work, so you can earn a cryptocurrency having in your asset less than 10 thousand PIVX.
After a detailed analysis, a cryptocurrency asset called PIVX looks very promising and in demand in the digital currency market. The maximum level of capitalization and the competent development of the network make it profitable, both for use by ordinary users, and for large investors.
Editor: Yuliya Soroka