PIVX is an anonymous peer to peer digital currency based on Bitcoin algorithms. The logic behind it is the creation of a decentralized, privacy-focused digital currency that provides instantaneous transaction timeframes. Given, its current transaction times aren’t really instantaneous.
Still, they are indeed the very quickest among all the cryptocurrencies currently in the market. PIVX is one of the securest coins, but there are plans to implement the ZEROCOIN protocol into it. If the venture is successful, this coin will be able to take financial privacy to a whole new level.
It will also raise its price up from its current price when contrasted with most other coins. Let’s review some of the top reasons why this digital currency is important.
PIVX Company Products
This cryptocurrency offers wallet coin mixing that is based on Coinjoin with a number of enhancements, which are executed in a decentralized manner via a ‘masternodes’ network. This facilitates for an extra layer of privacy when you make transactions.
PIVX transactions can be validated within a matter of seconds. There is no need for having to wait for a long series of confirmations to be assured of the validity of your transactions.
SwiftTx uses the very latest Bitcoin algorithms. This is the very first ‘proof of stake’ digital currency that has been built on version 0.10 or higher Bitcoin codebase. The exact structure it adopts totally eliminates coin age.
So, to be able to make the most out of your staking, your wallet will always have to be open. In turn, this leads to consistently available nodes, which can strengthen the network.
Generally speaking, masternodes are the backbone of the PIVX network’s current and future services. Essentially, these are incentivized nodes that can obtain reward through their availability and capability to provide services in a decentralized and ‘trustless’ manner.
Operating masternodes entails being able to lock 10,000 PIVX collateral for as long as you wish.
First of all, this digital currency is highly noted to be community driven, and has a big active community on numerous social networking websites. When you join the PIVX network, you will have a stake in budget voting as well as having a say in developmental proposals.
Secondly, it uses ‘proof of stake’ 3.0 protocol rather than ‘proof of work,’ which is more effectual in keeping the network much more secure. Thirdly, PIVX offers outrageously low transaction fees thanks to the unparalleled efficiency of its proof of stake protocol. This makes it ideal for micro transaction business models.
Fourthly, this cryptocurrency makes use of an ingenious variable ‘seesaw’ rewards balancing system. This particular system functions by efficiently adjusting reward to both masternodes and staking nodes in a dynamic way.
Finally, PIVX has a significant edge over other digital currencies that use masternodes, including DASH, in terms of profitability percentage.
As with all other digital currencies currently in existence, investing in PIVX does come with a number of risks. To begin with, while it can be used like traditional hard currencies, this digital currency is regarded as a commodity, like gold. This quite naturally makes it susceptible to market fluctuations.
Also, PIVX can in theory become totally worthless. There are factors such as the cooling of investor interest and effects of global economies, which can lead to its loss of value, even if safeguards are in place.
PIVX is without doubt an extremely innovative cryptocurrency. This is especially the case when you take time to consider the rapid transaction timeframes and the improved level of privacy it can offer. So, despite the few risks associated with these currencies, making the decision to invest in PIVX definitely has the potential to be a strong financial move.