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TORONTO – PIVX (Private Instant Verified Transaction), has rolled out its highly anticipated new core wallet v3.0.0 that includes support for a next-generation proof of stake privacy solution utilizing Zerocoin protocol (zPIV). PIVX has made history by being the first POS (proof of stake) digital currency to implement a fully private and anonymous transaction protocol.
Most cryptocurrencies in the market today utilize a public ledger system, called the blockchain, which makes all transactions visible and traceable. This leaves users vulnerable as anyone has the ability to see all associated transactions and balances, which includes their associated addresses. If an account can be linked to a person’s identity, then all of the transactions on that account can also be linked to that person.
To help solve this problem, PIVX has implemented a highly-vetted protocol called Zerocoin which enables each transaction to be private by unlinking transactions with the use of its new second tier coin called zPIV. This revolutionary protocol makes PIVX one of the most up to date and technically advanced cryptocurrency on the market.
The PIVX Zerocoin implementation comes with real-life benefits for users which include:
Hidden coin balance: PIVX’s anonymous transactions hide your coin balance from prying eyes protecting you from being targeted or being monitored because your private (zPIV) balance is not linked to a particular address.
Hidden transaction history: Private PIVX transactions hide your transaction history and details. Source and target addresses for every transaction are not visible making it private, safe & fungible.
Swift private transactions: Anonymous transactions on the PIVX blockchain are rapid. It takes as little as 0.5 seconds to mint (convert PIVX coins to zPIV) and 2.5 seconds to send zPIV (private PIVX coins).
PIVX’s aim is to have the best technology built into a coin that maintains the ideals that Bitcoin founder, Satoshi, originally had in mind. Simply put, the goal is to put the people in power of their money so they can manage and possess their own funds.
PIVX has become a strong contender in the cryptocurrency ecosystem maintaining a spot in the top 30 of the list of cryptocurrencies based on market capitalization. The first privacy-based proof of stake currency is used in over 174 countries, with approximately 9000 members in it’s community communication portal, and a website translated into over 20 languages currently.
PIVX is a community-centric cryptocurrency with a focus on decentralization, privacy, and real-world use. It utilizes an energy efficient Proof of Stake protocol and a second-tier Masternode network for inclusive community-based governance along with a blockchain based self-funding treasury system ensuring its sustainability. PIVX is continuously striving to achieve a better governance system, instantaneous private transactions, and fungibility in order to remain next generation cryptocurrency.
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Author: Bitcoin.com PR