Imitation is the most sincere form of flattery, even in the world of cryptocurrency. PIVX (Private Instantly Verified Transactions), an alternative cryptocurrency forked from Dash, has recently launched their new website. This is another important milestone for this project, as the developers focus on private instant verified transactions. It is evident PIVX is well underway to continue their growth process in a positive manner.
PIVX Rebrand Is In Full Effect
People who have been looking for private transactions in the cryptocurrency world should take notice of PIVX. The project is an open-source proof-of-stake cryptocurrency combining parts of Bitcoin Core and Dash. Through the PoS 3.0 protocol with fixed block rewards and the deployment of masternodes, this cryptocurrency is looking to bring something new to the world of digital currencies. Similarly to Dash, PIVX aims to achieve decentralized governance.
It has to be said, the new PIVX website looks very appealing. It is nice to see an alternative cryptocurrency focus on website design, unlike the vast majority of copy-and-paste coins in existence. PIVX is positioning itself to become a major contender on the Coinmarketcap charts in the future, that much is certain. Moreover, the project packs quite the punch under the hood as well.
To ensure PIVX users can enjoy full-time private transactions, the currency is working on a Zerocoin Protocol implementation. To be more precise, the developers are working on modifying this protocol to work with PIVX’s PoS consensus algorithm. Transactions will be anonymized by using a form of cryptographic e-cash. Although the developers are uncertain when this implantation will be finished, they aim to roll the feature out before the end of 2017.
The cryptocurrency community has shown a lot of appreciation for PIVX so far. With the project’s Slack community growing to over 200 members, it is evident private instant verified transactions are important to quite a few people. Moreover, there are six active developers – four of which are core devs – working on this project, which is a lot more than most altcoins have. PIVX is in a prime position to become a major contender – and perhaps even competitor – to other cryptocurrencies focusing and privacy and anonymity. It will not overtake Dash anytime soon, though, despite borrowing some of its features.
That being said, PIVX has successfully achieved a marketcap of US$2.5m, which goes to show interest in this project continues its growth. The cryptocurrency ecosystem is open to anyone and everyone, and more competition can only be a good thing. Rebranding from DarkNet to PIVX has been a smart decision by the team, that much is certain. After all, DarkNet has a very negative connotation to it, whereas the PIVX brand offers a lot more marketing potential.