Review on PIVX by Mr Benji

Name: PIVX
Item: PIVX
Rating: 4

June 26, 2019

Privacy, privacy and privacy

PIVX is an open source cryptocurrency based on blockchain technology, belonging to a group of private coins, or cryptocurrencies ensuring anonymity of transactions, as well as Monero or Zcash, while providing almost instant confirmation. The PIVX acronym stands for Private Instant Verified Transaction. PIVX was the first cryptocurrency based on the Proof of Stake consensus algorithm, which ensured the anonymity of the transaction using the Zerocoin protocol.

PIVX is based on the heavily modified source code of the Dash cryptocurrencies and similarly as it operates on the principle of DAO - a decentralized autonomous organization, financed by the network users.

PIVX - unlike bitcoin, but like Monero - does not have limited supply, which means that it is inflationary. PIVX inflation will decrease from year to year due to the constant number of "slaughtered" units, oscillating between 2.3-2.6 million per year.

Mastersody and PIVX staking
Currently, PIVX is cryptocurrency based on the Proof of Stake consensus algorithm, which means that there is no mining process in it, and masternodes and users staking a specific number of PIVX units on their portfolios are responsible for confirming transactions and adding new blocks to the network. The prize for the block is fixed and amounts to 5 PIVX. It is shared between stoker and masternodes. In addition, as in Dash, 10% of each reward for a block is automatically allocated to the development of a decentralized organization and implementation of goals voted on by users.

Thanks to masternodes, there is also an optional instant transaction function (similar to InstantSend in Dash) called SwiftX, which is able to process 5 transaction confirmations in 1 second.

Privacy PIVX - zPIV
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PIVIX uses the Zerocoin protocol modified for the needs of Proof of Stake, 
originally created to ensure the privacy of Bitcoin. zPIV ensures the anonymity of the transaction through the presence of the PIVIX equivalent with the name zPIV, which corresponds to the PIVIX value and can be exchanged both ways. zPIV allows you to disconnect the transaction from PIVIX and thus prevent its subsequent localization.
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