PIVX Provides an Instant, Private and Community Designed Governance Alternative to Dash

PIVX (Private Instant Verified Transaction) presents an alternative in the world of privacy-centric cryptocurrencies as it offers what it terms as an upgrade of the DASH code from which the currency was built. Some of the differences between the two includes PIVX’s adoption of Proof of Stake (PoS) code and a new Community Designed Governance which enables instantaneous, private and verified transactions to all users.

Pushing for an environmentally friendly alternative, PIVX has scrapped its dependency on resource-heavy hardware for mining and opted for an online alternative where users can earn PIVX through staking which is simply holding tokens in their online wallet to support the security of the PIVX network.

PIVX, a Dash fork inherits all of Dash’s features such as masternodes, instant transactions (SwiftTX) and private transfer (Obfuscation) based on the coinjoin method. The PIVX team is also working on further improving the platform by upgrading it to v0.12.1.x Dash core with enhanced features like the implementation of the Zerocoin Protocol with non-optional minting, IPv6 support, along with the existing IPv4 and TOR Network support.

PIVX’s custom seesaw algorithm dynamically alters the rewards split between a masternode and staking nodes. The PIVX network has a block time of 60 seconds with fixed block rewards. Detailed information about the seesaw algorithm is available in the PIVX whitepaper.

Community Designed Governance

With so many examples to learn from on what bad governance has done to several promising cryptocurrency projects, PIVX is building democratic community governance. The PIVX community is in the process of discussing and exploring ways for improving the existing masternode voting system by including non-masternode PIVX holders in the decision-making process and utilization of its block reward budget.

Dash Masternodes are generally expensive, and when a price hike occurs the Masternodes become too expensive to run. PIVX is trying to solve this problem by taking voting power away from Masternodes and decentralizing it, effectively giving each holder a vote.

The current suggestion includes a budget system that has shared voting power between all PIVX holders and a best practice system labelled Proposal Promotion Level  (PPL) that will ensure that every community member’s voice is heard and taken into consideration.

With the current features and incoming changes PIVX aims to be a community-based, instant and private alternative in the blockchain tech and cryptocurrency realms.

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  • I look forward to watching this Crypto mature. The community is electric and Pivx just works.

  • Grant S

    We are trying to bring crypto closer to what we believe Satoshi’s vision was. We have a lot of hate flowing towards PIVX but that is because we are challenging the status quo of every established crypto.

  • shoggoth

    For one, DASH’s masternodes do not become “too expensice to run” when a price hike occurs – contrary to that statement in the article above, masternode owners celebrate each price hike as it returns them a bigger deal of their invest.
    It is true though, that buying a masternode becomes more expensive the higher the DASH price rises – as the masternode collateral is paid in DASH it is pure logic.

    The issue of blockchain governance is one to tackle for sure, but it should be an issue openly and cooperatively discussed in the open. I for one do not feel, there will be “the one solution to bind them all” – maybe there will be different solutions just as we have different solutions how to exactly run our mainly democratic governments.
    So maybe there will be blockchain currencies with a more plutocratic approach and others with a more democratic approach.
    The level of resentment/envy and jealousy in the currency cryptosphere is becoming another big issue we need to openly discuss – BU/Segwit followers are showing us how bad it can get, so lets hope, others will not follow.

  • Tante Stefana

    Hi, when you clone Dash, I believe you have to keep the technology’s names in tact. Private Send and Instant Send, or else it looks like you’re falsely trying to pass these technologies off as your own. I believe that’s in the MIT licence. It shows contempt for the code PIVX is cloning.

  • ฿rian

    “With so many examples to learn from on what bad governance has done to several promising cryptocurrency projects, PIVX is building democratic community governance.”
    The FUD just keeps on coming. I’m guessing they are not talking about Dash’s governance here. If the current dash price is considered a failure or bad governance i’m looking forward to what success looks like. So far all i see from pivx is a dash copy with zero positive innovation (pos vs pow) just vaporware that itself has no direction. Just winging it hoping to get something right, very dangerous and shows the immaturity of the coin at this stage.

    “Both Dash and PIVX have their governance systems setup such that only Masternode owners can vote. While I’m sure it made sense at the beginning, considering that at the time the majority of power was centralized to coin creators and developers, I think that it has become abused through time and is completely unfair.”
    They sure talk a lot but never offer any facts just FUD. The biggest Dash owner for years was not part of the “coin creators and developers” but just a btc whale that bought a bunch of coins off the exchanges just like anybody could have done. Their strategy seems to be to copy dash, then attack Dash on something that is not broken but claim it to be with no proof or examples and then offer a broken vaporware solution that they themselves have still not figured out how to make work.

    “This is similar to Dash early adopters, who were able to accumulate enough Masternodes, now hold the “power” to make decisions …. thus power becoming centralized. “
    Same could be said of pivx with it launch issues and masternodes held by the early miners who threw massive hash at the project early on then went right into masternodes and started getting more pivx. These are just different distribution scheme. One is not provably better than the other, all coin have various launch and distribution issues.

    “I believe that Dash is now ‘locked-in’ to their broken governance model.”
    LOL, they keep saying it is broken but can’t provide any examples of where it’s broken. Any example they could come up with won’t be solved with giving jethro a vote with his one pivx. Mod rule will not end well boys and girls. If it ain’t broke don’t fix it! And Definitively don’t break it by changing from POW to POStake.

    “We don’t know exactly how the system will be designed. Will it be 1 PIV == 1 Vote? What about when a PIV is $200 US? Does a person with 0.5 PIV get a partial vote?”
    This is a reoccurring theme I have seen since the start of the pivx project. We think Dash is broke but can’t say how and don’t know how to fix it, LOL. Maybe the reason you don’t know how to fix it is because it is not broke, but you solved that problem by disregarding solid trusted POW for POStack that is still vaporware. Dash has solution in the roadmap to allow voting by smaller groups without going too far in the wrong direction that pivx is heading down. There are also solutions to centralized mining issues without downgrading from POW to POStake. Everything about pivx from the start has been in constant influx with decisions not being made, if only there were a way to vote on these things? We’ll keep an eye on pivx and the other Dash clones and if they come up with something that works we will implement it in DASH. So far I see nothing to get excited about.

  • Swapster_com

    I am using PIVX and loving it. I tested the Tx from Fl to TN with a friend on the phone, and it was less than a second, and was confirmed thereafter quickly. Setting up a masternode was very easy, and before that I was staking just by keeping the wallet open. This is really cool tech, and looking forward to the zerocoin protocol implementation. The other thing of note is the community, mostly on Slack… it’s really engaged and you get support on any issues right away. PIVX is definitely going places fast.