Private Instant Verified Transaction, PIVX is a privacy-focused, open source cryptocurrency that is also decentralized. The cryptocurrency is run by a global community that includes technology enthusiasts, innovators, and investors. The currency can be easily described as a community-based cryptocurrency that focuses on privacy, freedom, and technology. The PRIX team believes that each person should be allowed the freedom to share their wishes with anyone they want and everyone and also have the freedom to restrict who access your information. This is what PIVX offer its users. PIVX is a fork from Dash
What makes PIVX strong and unique from other digital currencies available is its features. PIVX features enable the platform to offer users the best services in the shortest time possible. These features include:
The masternodes incentivized nodes received based on the availability. Masternodes offer network services in a trust-less and decentralized manner.
Obfuscation is a mixing mechanism that is used in wallet coin mixing, but done is a decentralized fashion. This fashion is facilitated by the networks of masternodes on the PIVX platform. Obfuscation provides for an additional privacy on transaction layer. While the privacy is not perfectly anonymous, it is better than other standard bitcoin transaction.
SwiftTX is a form of transactions that are confirmed and spendable instantly. SwiftTX is guaranteed on the PIVX network by the network of masternodes. Users don’t need to wait for multiple confirmations to be confident in the transaction validity, but they get almost instant confirmations, mostly within seconds.
PIVX is a proof of stake cryptocurrency that is based on the 0.10 codebase version or higher bitcoin codebase. The PoS structure on the network does away with coinage, meaning you need to keep your wallet open every time to get the most out of your staking. The results will be more constant available nodes and strengthen the network.
See-saw rewards mechanism
Block rewards on the network vary based on a number of coins available for staking on the network vs. a number of coins held for masternodes. The portion of block rewards rises depending on the number of masternodes.
PIVX team comprises of community members, including advisers, innovators, and technology enthusiast. Depending on the person, they can choose to be listed on the platform or not. It’s completely optional. Some of the members listed include Eric Stanek, governance Sherpa, among others. The members can also decide to use their real name or a username.