PIVX Cryptocurrency – A Detailed Guide for Beginners
Private Instant Verified Transaction(X) is the full form of PIVX which is a new type of cryptocurrency discovered from Dash and focuses on the concept of “Proof of Stake.”
PIVX is an open source and decentralized cryptocurrency which is designed and evolving with the best practices to ensure privacy and transactional security.
This concept will trigger to exchange your cryptocurrency in the digital form but with utmost privacy and with security. It is solely a decentralized program. Through this mode of the blockchain, the transaction time and levies are reduced but keeping the privacy and the safety in the centrifugal point.
This post will provide you a detailed concept of PIVX incorporating its inception, wallets features, goal, resources and all the relevant ideas which are essential as well.
Inception of PIVX
PIVX concept was started in the year 2016 with the idea of changing the concept of the DASH technology from proof of work to proof of stake. This new concept was invented to balance the reward system in a disciplined and honest manner.
The two Dash officials who invented this new technology is of the view that privacy is the center point for all the exchange transactions and so that thought of developing a novice mode with was the amalgamation of the guidelines of the DASH and specific operation which helped in the easy, secure and pocket-friendly way of exchange.
How Does PIVX Work
PIVX encompasses three strengths of Secrecy:
1. Secrecy Identification
While you are exchanging through PIVX, there is no requirement to reveal your authentic identity, and your name and location remain private if PIVX system is used.
2. Secrecy system
PIVX supports TOR and VPN networks allowing IP address anonymity. This means that your network on the internet can be made private.
3. Secret Transactions
All the transactions can be secret and remain private as the PVIX uses Zerocoin protocol level anonymity.
The Zerocoin Protocol uses a cryptographic method known as the Zero-Knowledge proof. It enables a party to prove that a given financial transaction – as in the case of PIVX – is true to another party without conveying any information to the public apart from the fact that the money was indeed sent or received. -Source: Pivx.org
The centrifugal point of PIVX
To provide a platform where the investors can carry out the exchange privately with specific fixed policies which are entrusted to deliver profit to every investor involved. It is the main goal of this technology. The team is working with more attributes which have to be taken care.
The following list of the attributes will surely entrust you to choose PIVX above any other form of cryptocurrency.
- It is a form of secret currency which is exchanged between known people.
- It is entirely implemented and executed by the community
- PIVX is based on the format of Private Instant Verified Transactions.
- ICO concept is absent in the PIVX technology.
- This network is more secure than Proof of Work as it encompasses the Block chain’s improved 3.0 POS protocol.
- As this network is based on POS technology, so the transaction cost is the lowest if PIVX technology is compared with other forms of cryptocurrency. This system is apt for the small ventures which used to incorporate Bitcoin terminology.
- “Seesaw Reward Balance System, “is the newly discovered system which is used by PIVX which automatically adjusts the profit with the stake and master nodes.
- To ease out the execution and the management of the task, PIVX incorporates Trello Application.
- PIVX is a group of highly professional, experienced, reliable and accessible members.
- To run the system with proper guidelines and hurdles PIVX network encompasses video materials and specific guides.
- PIVX is readily available to do business on numerous exchange sites such as Bittrex and even you can carry on exchange with the more significant sites.
- PIVX run on the technology named Bitcoin 0.10 x core, this is updated than POS present in other modes of cryptocurrencies which mostly uses the lower version of Bitcoin.
- It is the track record that PIVX has higher profit returns when compared with other cryptocurrencies which use master nodes for example DASH.
- PIVX is overgrowing on all the social media sites such as Reddit, BCT, Gitter, slack, Facebook, Riot, etc.
Futuristic Approach of PIVX
The future of PIVX seems pleasant though there are many deadlocks the team behind the PIVX is motivated and experienced and confident to face any issues to let this new technology exist in the market. There are many big companies which are supporting PIVX, as this technology has grabbed the market, so it is said that this will be present in the market for some time if not for a prolonged period.
“Community Guided Governance model,” “Proof of Stake,” “Zerocoin protocol technology,” “Swift X,” these bunch of technologies have helped PIVX to stay updated and have a firm hold in the market with the attributes which are mostly absent in the other forms of cryptocurrencies
Who forms the team in PIVX network:
PIVX network comprises of the individuals who are directly involved in the execution and development, supporting, programming and marketing about this new concept of cryptocurrency.
Buy & Store PIVX
Resources of PIVX
Reddit, Discord, Finasko.com and Bitcoin talk are the certain platforms where PIVX is discussed, and these sites have emerged as the excellent source of information for the investors who are willing to invest in this new technology.
The following are the detailed list of resources with the name of the social website and their respective website links, which will be providing you an insight about the resources of this new technology:-
- PIVX – https://pivx.org 1
- Slack – https://slack.pivx.org 1
- Reddit – https://reddit.com/r/pivx/ 1
- Finasko – https://finasko.com/
- Twitter – https://twitter.com/_pivx
- Facebook – https://www.facebook.com/PIVXCrypto/
- Bitcointalk – https://bitcointalk.org/index.php?topic=1262920.0
- Exchanges – https://pivx.org/get-pivx/exchanges/
- Road Map – https://pivx.org/what-is-pivx/roadmap/ 2
- Freshdesk- https://pivx.freshdesk.com/