What is PIVX?
PIVX, or Privacy Instant Verified Transaction (PIVX), is a decentralized, open-source cryptocurrency. It is based on the principle of anonymity of users. PIVX cryptocurrency is a fork of DASH cryptocurrency that uses only the best aspects of DASH and Bitcoin. The work of the PIVX cryptocurrency is currently based on the Proof of Stake protocol, but for the first half year the Proof of Work protocol was used.
When creating the coin, the developers chose the blockchain-community service as their main goal. The priority is fair and transparent management of the system by its participants.
Being the anonymity is one of the “chips” of PIVX, its creators do not reveal their names. The cryptocurrency entered the market on February 1, 2016, with the name Darknet (DNET), but was soon renamed PIVX (Private Instant Verified Transaction).
The project began its way from PoW mining, but in August 2016, it switched to PoS. Now PIVX works on the Blackcoin cryptocurrency PoS 3.0 protocol and is based on the Bitcoin Core 0.10.x code base. PIVX uses a two-tier architecture with master nodes for decentralized management and improved anonymity.
Let’s say you want to buy PIVX. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy PIVX.