Blog What is PIVX ?

What is PIVX ?

History of PIVX

Launched in 2016 by two members of the DASH community, PIVX is a digital currency that uses blockchain technology and can be transferred anywhere in the world in a snap with virtually no transaction costs and with security and confidentiality among the best on the market.

According to the description on the official site, PIVX is a community-centered project in the blockchain technology and the world of cryptocurrency. In addition to the decentralized Proof-of-Stake (PoS) mechanism, security or ease of use, a detail clearly shows this importance given to the community: PIVX is the first crypto project to have translated its official website and documents into more than 30 languages to make these resources easily accessible.

Characteristics of the PIVX masternode

caractéristique pivx

How PIVX works

The pillars of the PIVX project

Behind the acronym PIVX, we must understand Private, Instant and Verified transactions which gives us a good roadmap to describe the main characteristics proposed by the project.

Privacy: the Zerocoin protocol provides total confidentiality to PIVX users. Indeed, Zerocoin turns publicly visible PIVs into anonymous zPIVs. During a transaction, the receiver who receives zPIVs sees PIVs on his Wallet but without the history of the origin of these corners.

Instantant transactions: transactions are confirmed within seconds by the PIVX masternode network. It is the SwiftX functionality that gives PIVX this speed of transaction.

Security : thanks to a vast network based on Proof-of-Stake technology, the PIVX blockchain is one of the safest in this field. Moreover many projects like BITGREEN have been based on its infrastructure.

Proof-of-Stake mechanism

The functionalities of PIVX are numerous and of course do not stop at those mentioned above. Let's have a closer look at the PIVX masternodes whose interest is great.

In the PIVX blockchain, the masternodes constitute the central architecture of the project. They are the ones that ensure the proper functioning of the functionalities that make the added value of PIVX, in particular the instantaneous transactions. Their role is also to ensure the confidentiality promised by PIVX. Consequently, the users who manage a masternode are entitled to rewards for their work in favor of the network. In addition, this gives the operators of PIVX nodes a voting right in the governance of PIVX. For example, they can vote for budget or development proposals.

At Just Mining, we offer you the opportunity to acquire a PIVX masternode and receive regular rewards. Moreover, for smaller budgets, you can opt for a shared PIVX masternode. This option allows you to own a share of a complete node (from 5%). By opting for these solutions, we take care of installing your masternode, maintaining it and paying you your rewards. All you have to do is earn rewards.

ambassadeur pivx
Published by Just Mining on 02/09/2020
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