PIVX or Private Instant Verified Transaction is a decentralized cryptocurrency launched on the 1st of February 2016 as a Darknet (DNET). Its principles are: privacy, security, anonymity and speed. The digital currency was forked from DASH, but do not compare these two. The digital currency Darknet became PIVX in January 2017.
The PIVX project’s purpose is “to achieve instant private transactions and a governance that helps sustain the network”.
How does PIVX work?
PIVX uses a Proof-of-Stake (PoS) protocol, because developers wanted to improve the DASH platform. They use PoS to create a see-saw mechanism to auto reward payouts. So, the developers decided it’s time to change the old system.
PIVX focuses mainly on the privacy and anonymity of transactions. After they identified the DASH platform’s problems, it was necessary to implement a new strategy, because the idea was a great one. PIVX is incorporated with advanced algorithms that provide high security of user’s transactions.
The team behind PIVX thinks your transactions don’t need to be influenced by governance, individual marketers or traders. It’s time to manage your transactions by yourself.
PIVX is an open-source cryptocurrency, that uses masternodes for keeping the network on the wave. This one assures that your transactions are managed in the right way. The more masternodes are being used the stronger the network becomes. These provides more services to the network than it does without it.
Where can you keep your cryptocurrencies?
We want to recommend you four wallets for PIVX coins. PIVX GUI (desktop version) is the official wallet and is available for Mac, Windows and Linux operating systems. It has a friendly interface and guides you to the main benefits of it. You can download the latest version of PIVX GUI wallet right here.
Next, there is PIVX Wallet, mobile version. It was launched in July 2017 and let you keep, sell and receive PIVX cryptocurrencies. For a higher security the wallet is encrypted with a password. You will find the wallet on Google Play.
Another mobile wallet is Coinomi. It is already a popular wallet, that allows trading various cryptocurrencies. You can control the private keys by customizing them. You do not need to create an account to use this wallet. You can download the wallet from Google Play.
The last wallet we recommend you for PIVX coins is the Ledger Nano S. It is a hardware wallet and perhaps the safest one. This one represents a device that keeps your key and currencies private. You can buy the device from the official website of LedgerWallet.
Conclusion
The PIVX cryptocurrency is unique and has a lot to promise us in the future. It uses Zerocoin protocol to assure the transaction’s strongest privacy and security as well. The platform was built on DASH platform. Now imagine all the strengths of the DASH cryptocurrency and add an advanced technology to them. The issues were transformed in advantages, so there are even more benefits from this network.
