Spotlight on Cryptocoins -- PIVX -- 7th feature "private" coins
Hello Steemians
In this series of articles I want to put a spotlight on a specific cryptocurrency and write about the details in all these aspects:
Aim of the currency
Technical details
Market position
Forecast
The cryptocurrency in focus currently will be one of the so-called "private" coins. Coins that create the possibility to be more or less in private while doing transactions. How private you are is one of the main questions to be answered in this articles.
In this 7th article of the series, the spotlight will be on PIVX.
PictureSource
Aim of the Currency
What is this currency about? What does it do differently than the rest?
Where is the unique selling point and at what audience is this coin targeted.
All that questions and more will be answered in the following paragraph.
PIVX is one of the bigger players on the private coins' market and has been founded under the name Darknet/DNET back in November 2015. It is based on the original Bitcoin Core which has been updated to Bitcoin Core 0.12.1 in 2016.
Originally, PIVX has been a PoW(Proof of Work) Coin, but since August 17, 2016, PIVX is a PoS Coin, with a Masternode system attached.
PIVX is mainly focused on keeping transaction data private using the zerocoin protocol and is the only PoS coin that has implemented this protocol currently.
Technical Details
PIVX has wallets that support Linux, Max, and Windows as well as a mobile app for Android devices.
PIVX features a PoS Concept and also a Masternode approach. Every 60 Seconds 5 new PIVX are created and distributed according to the following rules:
- 10% is going to the reward pool for running new projects
- 90% is getting divided between the stakers and the Masternodes, by an algorithm that is constantly balancing the rewards between the two parties. Currently, the rewards are a bit in favor of the Masternodes to compensate higher costs of operation.
- There is no mining in PIVX since August 17, 2016.
Privacy of transaction is achieved using the zerocoin protocol, which means that for a private transaction you can create out of your normal PIV into untraceable zPIV, if you are sending this to a receiver again normal PIV without history will appear in his wallet. The link between sender and receiver is severed using a protocol level mixing service with zero knowledge proofs, making the transaction fully private.
Transactions costs for either private or transparent transactions, that are possible as well, are very low compared to other private coin implementations.
Transactions times in PIVX are very fast compared with other Cryptocurrencies, this is because a protocol named SwiftTX has been implemented which is using the confirmations of the Masternodes and therefore does not need to wait on other confirmations.
Market Position
At the time of writing this article (01/09/2018) PIVX is placed 59th in market capitalization, with the total value of $664.134.175 USD. The 24h Volume was $12.139.500 which is a high number compared to the last month.
The team around PIVX is also extremely active and they are delivering updates and new software quite regularly. The marketing team is creating new campaigns and adds quite often and they are constantly raising awareness.
Most of the Cryptocurrencies have had a massive boost of price in the last month and *PIVX from this tendency as well.
Looking back one month into the past, we see that the price is now 3 times what it was beginning of December. 12$ today versus 4$ on Dec,10 .
GraphSource
If we are looking back one year into the past we see that PIVX was traded for 1 cent until March 17, making it an impressive and massive increase until today.
GraphSource
Forecast
Just like all the other private coins PIVX for sure has a valid point in trying to keep the privacy of the sender and receiver.
PIVX has secured quite a good spot within the top 100 Cryptocurrencies, a strong position for further growth.
The forecast is very positive, the roadmap features a encrypted chat as well as Multi-Sig Addresses and the integration of I2P Network Nodes (in addition to TOR Network) to have another option for IP Adress privacy.
Conclusion
PIVX is keeping your transaction details mixed and therefore completely private, IP privacy is guaranteed using the TOR Network Nodes.
PVIX is developed by a ** community-based **, following the statement PIVX will work towards a ‘Community Designed Governance’ system that changes the distribution of votes, to include the entire PIVX community which has been signed of by the Masternode owners.
Last but not least there are also some drawbacks and they should not be unmentioned:
- Masternode cost is high needing 10000 PIVX, worth 120,000 USD currently.
- Privacy of transaction has been also viewed with criticism.
- PoS can also be seen as the rich getting richer because of the need to have a stake.
Interested in joining us? Come join our Discord server at: https://discord.gg/gXMH3qu
the juice about pivx is it has a private Instant Verified Transaction, that is privacy focused, decentralized, and open source, the dev has been active right from the fork and having a global community with technology-enthusiasts. Pivx to me is still the most undervalue coin and it will huge soon.
Good buy trade on this penny crypto
source
https://steemit.com/altcoins/@salahuddin2004/5qquhb-loopring-will-loop-out-to-usd-3-06
Privacy coins are a bit of a grey area for the future of crypto currencies, they obviously offer a very unique feature of anonymous transactions but on the other hand it might paint a bad picture for the future of crypto currencies as they will be hard to regulate.
I am thinking to add pivx in my long term bag. One of the reason of doing that is I can hold it on ledger wallet completely safe.
Awesome analysis. Started following!
i ll try to buy small amount of that crypto
POSW (future STAKENET) will be a better option?
It will be a fork from PIVX, with masternodes as well, privacy, Tpos, possibility to stake from cold storage and a very ambitious Roadmap for 2018.
Cheaper and better ROI.
Worth a look
Nice one. I am not so into crypto, so I dont know much about PIVX, all i know is that its the improved version of DASH, in wallet coin mixing based on CoinJoin with various improvements over the original :) my apologies.
But my word for everyone is make your own due diligence, read about the fundamentals and try to see the big picture of each currency.
Find the projects that interest you, and that you believe have a viable future and a use in the world and invest in them.
If you can’t see the big picture in 5 years - don’t invest. Pay close attention to what the coin DOES and what it stands for. Pay attention to how passionate its userbase is.
Unit price is not a good metric to go by, you need to take market cap and the number of coins in circulation into consideration as well. The larger the market cap of a coin is, for it to even double in price will take a huge influx of wealth.
Bottom line is do your own research, define your goals, and chart out your way. Thanks @velimir for the invite. Its great to be here.
I like the fact that you diluted the tape and showed (new for some who had not previously known) a coin and its characteristics.
Now the growth of the market and the majority of growing crypto-currencies is based on news. Most recently, we saw a consequence of the negative news about South Korea and the absence of registration on the crypto-exchange markets. That is, my idea is that in our time growth is due to two factors:
Exclusively, news is pushed up the leading crypto-currencies from the list.
Although my opinion - bitcoin is overrated, in fact this is an outdated technology (long transactions and large commissions are some of the shortcomings with which we have faced) and there are much better alternative altcoyins - which are currently undervalued. He (bitcoin) is a tool for gamers of large players.
Thanks for the article, it is the popularization of other worthy coins that will change the situation
Wow, that's what I like to read on Steemit, crypto! Crypto trading is in my eyes something like a 3 years old baby, just started to live. And we will be veterans of trading in a few years. PIVX is a great project, currently at number 51 in this 'bloodbath' at coinmarketcap.com
When I look at some coin, first of all I look on Circulating Supply and here we have 55m. My personal favorite is VTC which is on 42m Circulating Supply. In my opinion both coins can go higher at 10x/$. Look at NEO, it has 65m CS and it's on 97.98 US$. That means we have a large space for improvement. :)
God bless you
What number of pivx do you need to set up a masternode? and what else on top of that?
Dash was around around $10 over a year ago and now is over $1000...
1000 dash makes roughly 7% a year if im not mistaken, so almost 1.5 dash a week...what is the % interest for pivx for staking and for their masternode? I would want to get in this soon before their price rockets up even further.
20,000 PIVX for a masternode.. not sure what the reward is
Hope it will helpHello dude now it has been updated to 10,000 PIVX for a masternode and actually it gives you around 20$ per day, you can check the others masternodes here : https://masternodes.online/currencies/PIVX/
Better option is to get future POSW masternodes. Its a fork from PIVX chain. Next month they are doing the swap to STAKENET, new name. Rebrand. You need between 15,000-25,000 POSW for a master node, not decided yet. Much more cheap than PIVX and you will get more rewards.
damn...i guess im priced out then
This is why I sort of dislike PoS, a lot of time it sort of keeps the small guy out of the deal and causes inequality in the crypto space.
Get on bitcointalk and read the altcoins announce thread. You can get in on the next great coin on day one. In the mean time take a look at Smartcash (Smart) . Project started 6 months ago. SmartNodes (masternodes) launched this week. Read my articles on steemit you would like what you findout.
Ok @nitego I will read your articles!
I give you an advice, check SUCR coin, it's still affordable Masternode to make, it's only 1000 SUCR that costs around 0.1, and it's very new, I'll make a full post about it soon keep update I upvote and follow u @ssjsasha ;)
whoa thats a lot
Dash doesn't have the unlimited supply. That's the reason why I believe that pivx will never reach dash price wise.
RIPPLE XRP WILL POSSIBLY REACH 13000 THIS YEAR per COIN IN MY OPINION 🚀 let's Hodl together.
Here we are talking about PIVX, this post has nothing to do with yours XRP...
Remember that XRP is not a cryptocurrency, it can be control by Ripple at anytime to delete, move, clone or make new coins, this is just giving your BTC for a money that you not control, better to have Cash than XRP...
The exact question I wanted to ask
Based on estimates for May 2017 through April 2018, average yearly returns for staking are approximately 4.8%.
For up-to-date reward check PIVX Rewards Calculator.
PIVX was the first alt coin I bought! Unfortunately I didn't backup my wallet and lost them all :( :( :(
2018 will be a great year for pivx!
Bought Pivx at .75! Sold way to early! Great coin to hodl!
What is private coin and when is it coming in the market
Hello, actually a private coin is a coin that we can retrace from address to address like we can with BTC for example, it means you can't really know what is on the address with a blockexplorer,
Hope I've answered to your questions PIVX is already in the market and you can buy it here : https://www.cryptopia.co.nz/Register?referrer=membercrypto
The Private coin is a category of coins which focus to maintain your privacy while you do your transactions. Some examples are Monero, Zcash, PIVX, Komodo, Zcoin, NEVcoin, ZenCash, Verge, Dash. Correct me if i am wrong.
And POSW, future STAKENET. Next month rebrand and swap coins. POSW is a fork from PIVX with masternodes as well. Better option
Pivx is one of my favourites out there! it has such a huge potential especially with proof of stake and zerocoin.
Honestly I don't really understand the use of privacy coins. I understand that a large corporation would likely not want public record of their spending but for the average user how does it work? It seems as soon as you deposited privacy coins or spent them you'd be revealing your identity. Or am I misunderstanding?
privacy coins keep sender and receiver information hidden from anyone's view. It is very useful for people who do not want government or authorities to track how much crypto they have and using. The darknet which is much bigger than the typical internet we use has a lot of people wanting to keep their privacy when making transactions.
There are many methods to keep coins private. If you look at monero and read into the coin they use multi-signature to conceal sender and receiver. A lot of crytonite coins have this feature.
I doubt Government won't go after these kind of coins.
While some people will probably like the feature for money laundering, it also has a very legit use case: in a normal blockchain, everybody can look at your wallet - so everybody knows how much you own and what and where you spend your money on. This is not the case with a privacy coin.
What if we get paid our salaries in crypto? Do you want your coworker in the same position as you to see your salary (maybe you make a bit more than him). I dont want the whole world to be able to see how much money I have, we should have both privacy and non private coins for different use cases.
Me too
pivx is a good coin,as more and more investors join the crypto market, there will be an increasing need for privacy,private coins will have the spotlight, and pivx is one outstanding privacy coin
But PIVX has competitors like Verge, Dash, Monero & many others.
great post
PIVX is one of my favorite privacy coins. Tor Network Nodes is the main attraction for me to PIVX. The concept of privacy is frowned on by a large portion of society. I believe we all have a right to private moments, thoughts, investments and a lot more! I invested in PIVX mostly at the $1.00 to $1.25 range and purchased 5000 coins. I regret not purchasing 10,000 for the masternode opportunity you talked about in this post. I am very excited about my profit with PIVX, however the masternode is always a great way to have an additional yearly income. I really appreciate the detailed information you have shared within this post. Thank You for taking your time to share this post on steemit. I am going I am going to follow your steemit blog, so I will be able to share your knowledge with others. I have also just resteemed this post, so my current followers can benefit from the information as well. Have a great weekend!
You can purchase POSW for a master node. It will be forked next month from PIVX. Next month rebrand, swap and all the good features with privacy, Tpos, masternodes...
Cheaper and better ROI
This sounds like a good plan. Thank You for letting me know about this. I have also just followed you on Steemit so I can learn from your knowledge. Have a great Sunday.
Now the whole agenda is bitcoin and ethereum. It is really nice of you to talk about different subjects. Your opinion on your sharing is; PIVX; the team and the stability in their growth are predicting that they are not a Pump & Dump coin. There is also a management mechanism that provides financing support for the development of PIVX and its affiliated projects.
I like the fact that you diluted the tape and showed (new for some who had not previously known) a coin and its characteristics.
Now the growth of the market and the majority of growing crypto-currencies is based on news. Most recently, we saw a consequence of the negative news about South Korea and the absence of registration on the crypto-exchange markets. That is, my idea is that in our time growth is due to two factors:
real benefits and other characteristics of the crypto currency
news about a certain crypto currency, which are able to attract investors
Exclusively, news is pushed up the leading crypto-currencies from the list.
Although my opinion - bitcoin is overrated, in fact this is an outdated technology (long transactions and large commissions are some of the shortcomings with which we have faced) and there are much better alternative altcoyins - which are currently undervalued. He (bitcoin) is a tool for gamers of large players.
Thanks for the article, it is the popularization of other worthy coins that will change the situation
If you like PIVX, you gonna love @smartcash! They just launched the SmartNodes this week and you should have a look at it.
POSW they are gonna lunch masternodes next month. I will be a fork from PIVX. Check it out!
Thanks for the write up, I am going to go back and read your previous articles!
i love u post, but
i want to vote back @adsactly
Thank you very much for sharing. I have not heard it before. You have provided me with an idea on the subject. You encouraged me to investigate this topic.
amazing privacy coin. I should have invested more in this coin but still not too late I think.
Great info, will check Pivx out...Here's a valuable analysis on REDD:
REDD (RDD) - Analysis (53% POTENTIAL PROFIT) — Steemit https://steemit.com/bitcoin/@benkalashnikov/redd-rdd-analysis-123-potential-profit
Gracias por la información
PIVX plans to remove the coinjoin method of DASH and apply the modified libzerocoin protocol instead. This will make it one of the most advanced POS coins.
Nice posting interested amazing article
Seems like some very interesting stuff!
wow. awesome
Verry good post
I remember in 2017 when PIVX doubled from $.08 to $.16 and thought this coin was going to be massive one day! I think these privacy have definitely created their own niche! The masternodes are much cheaper than Dash's at current prices! :D
I wish that I started to learn about all of these coins features.
we could all just have bought a pivx masternode and just coasted through this whole crypto boom..
the prices have gotten out of most of our reach........
ps great article it was very interesting...........
it was a very informative article.You explained all the details about PIVX.I have never been involved with PIVX before, but I have to look at it.Thanks for sharing..
Great post outlining PivX and I really like how you have picked a layout to feature coins under.
I do something similar on my page, where I overview multiple coins, doing one a day. New series of coins to be announced tomorrow!
PivX is a great coin and has some good use cases, it is certainly one of the leaders in its niche.
Thanks for the great content @adsactly!
i love the idea behind PIVX and now i am out to know more about TOR network nodes
This post has really shed some good light on the marketing and future prospects of cryptocurrency. All said and done, one of the revelations for me in the write-up is the fact that PIVX is keeping owners' transaction details mixed and therefore completely private while the IP privacy is guaranteed using the TOR Network Nodes.
PoS Concept and Masternode approach are a great deal of features in PIVX.
Definitely not the first time I've read about this currency here on Steemit. Its always cool to see how must prices for different cryptos have risen over a year. I find it most interesting how there hasn't been mining of PIVX in a year and a half roughly too...
I like your post @adsactly
Thanks for the information you gave. privacy is essential.
Am seeing PIVX raking from 59th position to top 10th position among the Cryptocurrencies in few month to come
nice one
Amazing and informative write-up. Thanks!
Great Post! This is a fantastic format to present a "coin" to us all. Will look out for the next one! Cheers
Nice post
Very much
If u can,cek my post/blog upvote
If u can't that okey
So,thanks you
Great content! Very good overview for a person just getting started to look at the alt coin space. Thanks!