One of the three key changes coming to the Private Instant Verified Transaction – or PIVX – network is the implementation of the Zerocoin Protocol for more secure end-to-end transaction anonymity. PIVX will be the first Proof of Stake coin with the Zerocoin Protocol which aims to ensure that every end-to-end transaction becomes entirely untraceable.
The Zerocoin Protocol uses a cryptographic method known as the Zero-Knowledge proof to enable a party to prove that a given financial transaction – as in the case of PIVX – is true to another party without conveying any information to the public apart from the fact that the money was indeed sent or received.
#PIVX becomes the first Proof of stake #crypto to successfully mint and spend a zPIV (zerocoin transaction PIV). #anonymous #blockchain pic.twitter.com/EfXqD0pFnJ
— PIVX (@_pivx) June 30, 2017
PIVX is also introducing its mobile wallet which has been in development for quite some time. PIVX currently runs the desktop version of wallets for the Windows, Mac, Linux and Raspberry operating systems. The introduction of its mobile wallet will go a long way to ease the portability issue for the transfer and other use of the privacy-based cryptocurrency that offers total freedom.
With built-in instant transactions and deep privacy, a robust budget and governance structure, the mobile wallet will make PIVX more accessible on-the-go by its holders.
Lastly, PIVX is launching a Point of Sale application – PIVit – which is a free mobile app designed to run on mobile platforms (Android, iOS), desktop platforms (Linux, macOS, Windows) and standalone hardware terminals for merchants to be able to accept PIVX quickly, easily and securely.
#PIVX point of sale Terminals (PIVit) are coming! Get ready to use your PIVX at merchants! #cryptocurrency #blockchain #crypto #community pic.twitter.com/jnQ7iLHjYO
— PIVX (@_pivx) June 29, 2017
As with other changes, the app will aid in improving PIVX’s adoption as merchants that accept PIVX as a form of payment for its instantaneous transfer and untraceable transactions will speak volume to draw others who may have wanted to but think it is too difficult.
The app is designed closely related to credit card processing machines to reduce the complexity for merchants willing to accept PIV as a payment method and to offer a great experience to customers that want to purchase with it.
Some of the app’s other features planned for this release include its compatibility with some known hardware wallets such as Trezor, KeepKey and Ledger; its ability to generate a new account on first run, customize store name, create backups etc; and its ability to convert sales amount in a local currency to PIVX using http://coinmarketcap.com exchange rate.
The app can also generate a QR code payment request using a merchant’s receiving address, sale amount, store name and ‘use instant’ for their customers to scan; it can create a unique address for every sale; it displays on-screen notifications when a requested amount has been received by a given address; and detects partial payments to allow for multiple parties to pay the total amount owed.
Some of the features planned for a later release include a near field communication (NFC) touch-to-pay with mobile phones using PIVX mobile wallets, offline payments system using plastic EMV-type cards for customers and the app will be able to convert payments to fiat instantly.