What is PIVX?
PIVX is a transaction token based on decentralization, anonymity, and real-world use cases. PIVX uses an energy-efficient Proof-Of-Stake consensus protocol, a second-tier nasternode network, and a self-funding treasury blockchain system. In addition PIVX uses what is known as Zerocoin protocol to ensure anonymity when needed.
How does this privacy protocol work? When a transaction happens zPIV is minted on the blockchain. zPIV is then sent from user A to user B. When the zPIV reaches user B it becomes un-encrypted and user B receives their PIVX.
What is Zerocoin Protocol?
An open ledger system results in anyone and everyone having the ability to see all associated transactions, and its associated addresses. An address may seem fully anonymous but if you have made a transaction with an address associated with an exchange or other merchant services. So you have essentially linked your anonymous address with an address that may lead to your identity. Also in most scenarios this type of transparency shouldn’t be an issue.
Zerocoin Protocol (zPIV) provides a protocol-level service using zero knowledge proofs to sever the link between the sender and the receiver with 100% anonymity and untraceability. This means that each coin that gets sent using zPIV is now 100% fungible so it has no determinable history attached to them. Ensuring no private information is sent in a transaction between users.
The use of zPIV also means your balance can be masked to avoid being targeted by potential thieves. This is a very unique feature that nearly no other cryptocurrency currently in the market possesses. The zPIV accumulators are encrypted using RSA-2048 challenge generated keys which negates the need for a developer trusted setup and means that no individual knows the factors. Furthermore this means that everyone’s privacy is ensured through the use of zPIV.
How does the Ledger Reward System work?
The ledger system uses a See-Saw Reward System. The higher the Masternode count the smaller the reward portion that each PoS block will pay to Masternodes and the larger portion will go to Staking nodes and vice-versa. The PoS block begins with a 9:1 ratio towards Masternodes.When the amount of coins locked to Masternodes is less than 1% of total coin supply. As the number of coins locked to Masternodes goes above 41.5% of the total coin supply the block reward amount will shift with more than 50% of block rewards going to staking nodes.
QT Wallet In-Proposal Tab
Allows users to perform governance functions within it’s graphic user interface. Eliminating the need to access websites or vote from the debug console. Wallet also includes a Voting Tab allowing all users to vote on all proposals for the month.
Will allow users to run a Masternode using PIVX stored in a Ledger hardware wallet.
PIVX is making zDEX decentralized exchange for zPIV and BTC.
Acting as an entry to and from zPIV/BTC without intermediaries. Fees from zDEX will be rewarded to zDEXNodes incentivizing buying and long-term holding of PIV for passive income. No registration, no IP address logging, and no entrusting coins to the security of servers.
Elastic block sizes
Able to adjust on-demand ensuring the fastest transactions possible, even during peak periods and network attacks. PIVX is getting ready to scale alongside mass consumer adoption.
Implemented for security to prevent blockchain analysis teams to from linking wallet addresses to IP addresses. This protocol makes senders’ IP addresses virtually untraceable. Transactions relayed to nodes go through a random number of hops in the “stem” phase, and are symmetrically broadcast to more nodes in the “fluff” phase. Even if an attacker identifies the location of the fluff phase, it is much more difficult to discover the original source IP of the stem phase.
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Investing in cryptocurrencies and Initial Coin Offerings or ICO’s is a highly risky as well as speculative financial maneuver. This article is not a recommendation by Black Moon Research or the author to invest in cryptocurrencies or ICO’s. Since each individuals situation is unique, a qualified professional should always be consulted before making any financial decisions. Black Moon Research makes no representations or warranties as to the accuracy or timelines of the information contained herein.
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