Pivx.org is an open-source and decentralized peer-to-peer currency featuring advanced user data protection features, community governance mechanisms, Proof of Stake consensus algorithm, and multi-purpose Masternodes. Explore, contribute and influence future development together with PIVX and its thriving, global community.
Protected Instant Verified Transaction (or eXchange) (PIVX), launched January 30th, 2016, is a decentralized, MIT licensed open-source, fair-launch blockchain/cryptocurrency project managed, developed, governed, and stewarded by a community driven decentralized autonomous organization (DAO). It has been designed, engineered, and tested using advanced cryptography protocols to provide, first and foremost, user Financial Data Protection. PIVX is Financial Data Protection.
While Pivx.org is based on Bitcoin’s codebase fundamentally, it has undergone significant custom developments and integrations. PIVX uses a Proof of Stake (PoS) consensus protocol with its native cryptocurrency, denominated as “PIV”. PIVX in many ways has continued to pioneer the Proof of Stake consensus algorithm. PIVX’s advanced PoS is enriched with the Time Protocol v2 as well as the Cold Staking functionality which ensures higher security for coin owners and possibility to secure the network and receive staking rewards while coins are being cold stored offline on a hardware wallet.
The Pivx.org user’s financial data protection is secured through a highly customized, open-source implementation of the vetted academic anonymity protocol zero-knowledge succinct non-interactive argument of knowledge (zk-SNARKs) Sapling. All of the user’s transactional activities are protected by this protocol, called SHIELD.
SHIELD provides complete protection for your transactions; preserving the invisibility of transaction details from the sender to the receiver, the amount of the transaction and balances, with no preparation time. This is accomplished through PIVX’s novel customization of the zk-SNARK Sapling protocol by Electric Coin Company. As always, your full balance is available for transacting shieldedly any time you wish.
Zero Knowledge Transactions
Proving the transaction exists and is valid, without revealing any details about the transaction.
As small as 144 bytes generated in seconds on a low powered computing device.
Practical Transaction Speeds
1/2 of a second to generate, 1/100 of a second to verify.
Complete Protection Where It Matters
Pivx.org Hiding both sender and receiver’s data, as well as the transaction value.
Grant permission to view transaction details on a case by case basis.
User-Friendliness and Simplicity
No denominations. No waiting for other users. Simply choose between a Shield or Transparent transaction at the time of the transaction.
Pivx.org Choose what and when you want to share your address and any transaction information publicly, as well as disclose specific transactions and/or amounts with trusted 3rd parties through specialized viewing keys.
SHIELD & Transparent
Transparent addresses are base58 encoded, and start with the letters ‘D’ and ‘S’ on mainnet (‘X’, ‘Y’, or ‘W’ on testnet and regtest). SHIELD addresses are bech32 encoded and start with ‘ps’ on mainnet (‘ptestsapling’ on testnet).
Transparent to Transparent
Pivx.org Addresses and transaction amounts are publicly visible on the blockchain. This works just like as experienced in Bitcoin where the sender, receiver, and all aspects of the transaction (including the amounts) are publicly visible.
SHIELD to SHIELD
Addresses and the transaction amounts are completely hidden and not publicly visible. Important to know, a SHIELD to SHIELD transaction will still appear on the PIVX blockchain in a SHIELD form, allowing anyone to validate that the transaction occurred. That being said, it will be virtually impossible for an outside observer to put the transaction addresses into a relatedness and prove it.
Pivx.org Zero-Knowledge Proofs are a cryptographic method by which one party (the prover) can prove to another party (the verifier) that a given statement is true, without conveying (or unknowingly leaking) any information apart from one simple statement: that the statement being made is indeed true.
A Zero-Knowledge protocol thus allows you to do something REALLY impressive. To prove that you know something without revealing what that something is. Put another way, let’s say you have knowledge of something, but do not want to share it (for a plethora of reasons: security protocols, preventing hacking, etc).
Run a Masternode
Pivx.org Community Designed Decentralized Governance is the controlling feature of the PIVX DAO. A system of proposals is submitted to the network to be voted on by the 2nd layer masternodes, to determine if the proposal should be funded.
Every month the PIVX treasury has a fixed amount of coins in free availability – 43,200 PIVs. These funds are allocated for the implementation of those proposals that received a sufficient % of “Yes” votes in relation to “No” votes (10%).
Pivx.org Anyone can submit their proposal (submitting the proposal costs 50PIV) for further voting. It doesn’t matter how you contribute to the development of the project – as a designer, ambassador or even a singer. What is important is a positive result, the forecast of which you can indicate in your proposal.
Masternode owners vote for the proposals put forward. This voting is decentralized and anonymous, since the owners and their masternodes are located in different parts of the world.
Since Pivx.org takes care of each member of our community, the entire history of proposed and already implemented proposals and the entire history of vote results is visible to any user. All available information is here.
Who is behind the development of the project? Who helps with marketing? Who are our ambassadors? This section will introduce you to the active and versatile team behind the continuous and successful development of PIVX.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.