PIVX Price

About the coin

PIVX, which stands for Private Instant Verified Transaction, is a cutting-edge blockchain project and cryptocurrency that focuses on user data protection. It was announced on November 25th, 2015, and officially launched on January 30th, 2016. Unlike many other cryptocurrencies, PIVX had no ICO, instamine, or perpetual developer premine at its inception. Initially based on the quark Proof of Work algorithm, PIVX transitioned to a Proof of Stake algorithm on August 17th, 2016, and has since been a pioneer in both Proof of Stake and user data protection protocols.

Main features

PIVX is a decentralized, open-source project managed by a community-driven decentralized autonomous organization (DAO). It uses a custom-developed Proof of Stake consensus engine with its native cryptocurrency, PIV. The project integrates a second layer of functionality through a Masternode network, which provides a decentralized governance mechanism. PIVX is actively developing new features for this layer, such as Deterministic Masternode Lists and Long Living Masternode Quorums (LLMQs). Additionally, PIVX incorporates the zk-SNARKs Sapling anonymity protocol into all transactions and staking, ensuring enhanced privacy.

How it works

PIVX's coin supply is determined by a static block emission rate and monthly budget allocation payouts. The supply is dynamically calibrated by burning all transaction fees. PIVX operates as an independent, application, and payment-agnostic blockchain, using its native cryptocurrency (PIV) for user data preservation, digital currency exchange, and as a reward for network participants. Individuals can purchase or obtain PIV to hold, stake, or lock in masternodes, contributing to the network's security, decentralization, and governance.