What is PIVX?
PIVX, or Protected Instant Verified Transaction, is a decentralized, open-source cryptocurrency project that is community-driven and engineered using advanced cryptography protocols. The project's aim is to provide its users with fast, secure and protected digital transactions, serving as a bridge between the current cryptocurrency landscape. With the decentralized governance system, PIVX offers direct community involvement in the project's development and monetary policy that is governed by the blockchain codebase and controlled by the DAO.
The PIVX network is designed with two tiers, the first tier being staking, where PIV holders can participate by holding PIV, and the second tier being masternodes, specialized nodes that handle specific tasks and are incentivized. The project uses a proof-of-stake consensus algorithm, which replaces the previously used proof-of-work consensus model, and is based on the cryptocurrency Dash.
The PIVX network has a unique SHIELD staking feature that allows individuals to stake shielded coins and receive their rewards directly to their shielded address. This increases the security of financial data and the share of shielded coins on the network, strengthening the SHIELD protocol.
PIVX was announced in November 2015 and was originally branded as Darknet (DNET). The project officially rebranded to PIVX on January 1, 2017 and the first block of the network was created on January 30, 2016. The project's vision is to create a new trading paradigm that works better and promotes decentralized trading over centralized trading.
In conclusion, PIVX is a cryptocurrency project that aims to provide fast, secure, and protected digital transactions through the use of advanced cryptography protocols. The decentralized governance system and the two-tier network structure offer users direct involvement in the project's development and monetary policy. The SHIELD staking feature provides increased security for financial data and strengthens the SHIELD protocol.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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