PIVX - an anonymous cryptocurrency that was DarkNet

The fully anonymous PIVX cryptocurrency was originally called DarkNet, but when this network began to "enjoy" an increasingly inferior fame, it was decided to change the name. However, the assumptions of the cryptocurrency remained unchanged, ensuring settlements that no one can check. And so it is today.

We continue the cycle of the Forex Club portal in which we describe the most valuable, interesting and controversial cryptocurrency projects in the world. Today it's time for PIVX - one of the most famous private coins.

How PIVX works

PIVX is a cryptocurrency that ensures anonymity of transactions, just like Dash, Monero do Zcash. Interestingly, you do not have to wait too long for confirmation of transactions, which is practically instant thanks to the billing model used. And even with a higher network load.

The PIVX code is based on the modified cryptocurrency Dash code and is the first anonymous coin that worked on the Proof of Stake consensus algorithm through the use of the Zerocoin protocol. So this is a slightly hybrid version Proof of Stake i Proof of Work.

As in Dashu, also in this case the development of the network is financed by its users. 10% of the cost of each transaction goes to the foundation, which finances and implements the objectives voted by its community.

PIVX has unlimited supply of units, so the cryptocurrency is inflationary. However, you cannot dig more coins because they are added to the network in the number of 2,3-2,6 million every year. New coins are added by masternodes and people stacking cryptocurrency (i.e. blocking it on their wallets).

History of the Uprising

On 30.01.2015/XNUMX/XNUMX, the project was created on the web, but was initially known as DarkNet (DNET). It was then, however, that the network with this name began to be censored by the public, which discovered that illegal transactions were made through it and that large criminal groups were settled there. That's when Darknet ceased to be a "safe haven" for people who are at odds with the law.

So it was decided to change the name and from January 2017 the cryptocurrency is already operating as PIVX. Half a year later, it was decided to make it impossible to dig new units. In October 2017, the complete anonymity of the transaction was ensured, thanks to the implementation of the Zerocoin protocol - the same that allowed the creation of the Zcoin cryptocurrency (XZC). As a result, PIVX is considered to be the first completely anonymous cryptocurrency based on the Proof of Stake consensus.

How to earn on PIVX

The most interesting thing is that every owner of this cryptocurrency can earn. If we have more capital, we can become the so-called masternode, responsible for confirming the transaction. To become one, you must have at least 10 PIVX. Thanks to this, we can count on approx. 12% of the profit calculated in units of this cryptocurrency.

However, smaller players who decide to staking (freeze) units can also count on income. Here the profits are smaller, variable and also depend on the number of units - the more we have, the more (as a percentage) we can earn.

PIVX quotes

As of July 13.07.2020, 56,7, more than 0,45 million units are traded at a price of USD 21. They can be traded on 23.01.2018 cryptocurrency exchanges around the world. The most expensive coins were January 14,56, 760, when they were paid for USD 25,6, which translated into a market capitalization of USD 1,6 million. Today, PIVX capitalization slightly exceeds USD XNUMX million, and the daily turnover is about USD XNUMX million.