Review on PIVX by Gabriel Medina

Name: PIVX
Item: PIVX
Rating: 5

October 04, 2020

Cryptocurrency from Dash

PIVX is a cryptocurrency from Dash for anonymous and fast transactions that was born in 2016. It is a fork of Dash that had the name Darknet (DNET). Its objective is the realization of instant private transactions by its users.

The PIVX dApp uses the privacy-centric proof of theft algorithm for its blockchain network. The team has a work plan that emphasizes community governance and decentralization of the project.

The operation of this platform does not differ much from that of Dash; crypto is great as it uses master nodes for a couple of operations.

These are its main fundamental characteristics:

Masternodes: Inherited from Dash. They are incentive nodes that receive rewards in exchange for staying available and providing services to the network in a reliable and decentralized way.
Speed: Transactions are almost instantaneous, there is no need for confirmations as in other networks and they are verified by master nodes. The time is only 10 seconds per transaction and 60 per block.
Obfuscation: It uses the same Mimblewimble system to achieve the anonymity that it intends. This is to take the transactions already made to a unit where it will be mixed and it will be impossible to identify their origin.
Staking: It is compared to mining bitcoins, however, the power of the hardware is not used to earn more PIVX, but the PIVX themselves. The more you have in your personal portfolio, the greater the interest in earnings.

In general, the platform is safe from any type of attack, since the difficulty of controlling more than half of the network is reinforced by each node that participates.

PIVX can be traded at exchange houses:

Bittrex.
Cry.
YoBit.net.
LiteBit.eu.
Anycoin Direct.

His portfolio is available in:

Windows.
Mac.
Linux.
Rasberry Pi.

The PIVX cryptocurrency is similar to other cryptocurrency projects, but with the difference that it is focused on user privacy, community-driven management, and speed of transactions.
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Pros

Transaction time of as little as 1 second or even less.
Active and promoting community of its currency, with principles regarding privacy, freedom, technology and government.
Relatively low transaction fees due to the PoS algorithm.
The technology is more up to date than other currencies.

Cons