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89. PIVX (Published: 31st Jan, 2018)

Overview
PIVX stands for Private Instant Verified Transaction(X). It is a transactional security and privacy-focused decentralized open source cryptocurrency. It is also an anonymous peer-to-peer currency. The main goal of PIVX is to achieve near instant private transactions and a governance that helps sustain the network for the benefit of all of the users involved. PIVX lets their users to vote on everything.

Background
It launched on 1st February, 2016. When PIVX was originally created and forked from DASH, it was originally called Darknet (DNET). The PIVX Team is comprised of community members. Most members hide behind aliases.

Features
It features various technologies. Zerocoin which has been implemented by PIVX, is a protocol that does what Bitcoin can not. Zerocoin provides full privacy to the users of PIVX. The PIVX implementation of the Zerocoin protocol converts publicly viewable PIV into anonymous PIV (dubbed by the PIVX team as Zerocoin PIV or zPIV for short). When a user wishes to spend zPIV, the zPIV appears in the receivers wallet as regular PIV without history of where that PIV originated from.

It uses SwiftTX technology, which transactions are confirmed and spendable within seconds, guaranteed by the network of masternodes, with no need to wait for multiple confirmation in order to be confident in the validity of the transaction.

Furthermore, masternodes are the backbone of the PIVX network’s current and future services. These are incentivized nodes that receive rewards based on their availability and their ability to offer network services in a decentralized and trust-less manner. Running a masternode requires locking 10,000 PIV collateral for as long as users choose to run the masternode and allows the owner to vote on budget and development proposals.

Future Development
In 2018, there will be a lot of updates. Deterministic zPIV Wallet will be introduced. Users will no longer need to keep new backups after each zPIV minting. By backing up a zPIV seed (similar to private key), users will have full backup of any zPIV minted in the future, and be able to easily import the zPIV seed to a new wallet and restore any zPIV minted with the seed.

iOS Mobile Wallet will soon be reintroduced. After months of rigorous testing, the long-awaited iOS PIVX Mobile Wallet was submitted, but then rejected by Apple. They are working through the feedback, they will re-submit it as soon as possible.

In Wallet Proposal Tab will be brought to the public. Users will be able to easily perform all PIVX governance functions from within the QT wallet’s graphic user interface. There will be no need to access websites or vote from the debug console.

It is only part of it in Q1 2018. Numerous updates are coming this year.

Suggestion
There are many updates in PIVX project. The team keeps adding new features, which keeps expanding its growth potential. As time passes, PIVX will become more mature and powerful. It may be an anonymous cryptocurrency worthy of investment.

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