Pivx (PIVX)
From CryptoWiki
| Consensus mechanism | Proof-of-Stake |
|---|---|
| Total supply | Coin supply: no max. Increases by approx. 2.6 million PIV per year. Approx 312 million after 100 years. |
Basics
- PIVX originally launched on January 31, 2016 as Darknet (DNET) and later rebranded to its current name after significant development and community involvement. PIVX's founders are keen on DASH's general architecture but decided to implement a proof-of-stake network, which they believe offers a fairer reward system with a see-saw mechanism to auto-balance reward payouts. PIVX sees privacy as a critical component of a daily means of exchange and set out to combine the “digital cash” ethos of DASH with more advanced privacy and anonymity.
- Inflationary community-governed fork of Dash v0.12.0.x core
- PIVX = private instant verified transaction
- Mineable
- PoS
- Currency, has private send (Coinjoin) w/ through untraceable zerocoin protocol in progress. UPDATE: Zerocoin was used, but the protocol was broken in 4-2019. Pivx has since said they will create their own protocol. As of 8-2019 this is still in the first of 4 phases, 'Planning'.
- When exploits were found the team used a kill switch and turned off the zPIV mechanism. This ability to turn off big components of the network has not been decentralized yet (8-2019)
- Has masternode system, has a variable mining/ staking and masternode reward based on Seesaw algorithm
- Had self funding governance, 10% of block reward.
- Block time: 60 sec
- Premine: 60K on genesis block for setup of initial 6 masternodes. Premine was burnt from coin supply at block 279917
- PIVX issuance is composed of a small premine (60,000 coins), a Proof of Work phase (~43 million coins), and a permanent Proof of Stake phase (perpetual 5 PIV per block emission). The proof of work phase ended in August 2016, and the final/perpetual proof-of-stake phase, of 5 PIV per block, began in May 2017. Since the per-block reward is fixed, the supply of PIV will perpetually inflate, but at a decreasing rate every year.
- Has bulletproofs implemented.
Team, investors, partnerships, etc.
- Team can be viewed here.
