There’s an old saying that suggests if something isn’t broke, don’t fix it. There are a lot of situations where this makes sense. However, let’s consider another old saying – the invention of the lightbulb did not come as a result of regular improvements to candlemaking. What we mean to say is that even though the technology that powers practically every core wallet today provides an acceptable level of functionality, we think it’s time for a revolution.
That’s why the members of the PIVX project are proud to announce that we are going to release a completely redesigned and re-engineered core wallet. We are no longer satisfied with making tweaks and adjustments to software that is getting close to being a decade old. Instead, we are creating something that is truly innovative and transformative. And we are the first ones to do it, too. Read on as we introduce the all-new PIVX wallet version 4.0 based on a completely re-engineered core wallet system made just for PIVX.
What are we doing?
In case you are unfamiliar, most cryptocurrencies rely on code that was originally created by Satoshi Nakamoto, the inventor of bitcoin. That same code can be found in the core wallets (more on that later) of nearly every cryptocurrency that traces its roots back to bitcoin – and that includes practically all of them that aren’t tokens on another network. That means major players like Litecoin, Dash, and PIVX all trace their origins back to Nakamoto’s original code.
In order to fully interact with these networks, one needs to run what’s known as a core wallet. Basically speaking, a core wallet is a program that downloads and maintains a complete copy of an entire blockchain. This is different from using a light wallet, an exchange, or a multicurrency wallet like Jaxx or Exodus. Core wallets are critical for those that want to engage in crypto mining or staking. This is particularly true for PIVX. If you want to stake your PIV and earn rewards, you need to run our core wallet.
Up until now, essentially all cryptocurrency projects use a modified version of what’s known as the bitcoin core QT wallet. The software is impressive in its own right, considering the revolution it launched. However, the software has yet to see a true reengineering so that it can be brought up to date and in line with modern software design and other essential features.
Tech features aside, the original bitcoin core wallet is very unwelcoming to newcomers and has a steep and treacherous learning curve. Simply put, newcomers to cryptocurrency will typically avoid running QT wallets at all costs because they are just too cumbersome and frustrating.
(Images of original bitcoin QT wallet, like this one: https://en.bitcoinwiki.org/wiki/Bitcoin-Qt#/media/File:Bitcoin-qt.png)
Here is our plan. We are creating the next generation of core wallets with the upcoming launch of the PIVX core wallet version 4.0. While improving and updating the technology behind the cryptocurrency is a key focus for us, our aspirations are primarily aimed at creating a core wallet that is friendly to newcomers and experts alike. It will offer a sleek and more streamlined experience that will be much easier to get acquainted with. We believe that this will be a turning point in software design as it applies to cryptocurrency going forward. In the past, we have created innovations that the world had never seen before, and this will be no different.
Why hasn’t anyone else done this before?
You may be asking yourself, why is PIVX using its resources to do this? A big part of it is simply our ideology. We are and always have been focused on innovating in the cryptocurrency space. We are not content with simply accepting things as being “good enough”.
To ensure that we are going about this massive undertaking the right way, the PIVX team chose to work with Krubit, a blockchain software user experience and graphic design firm that employs some of the most talented people in the industry today. Combining our team’s technical expertise with the creative, graphic design, and user experience-focused crew at Krubit is what made our project a major success both technically and creatively.
Welcome to the new, friendlier PIVX experience
We believe that one of the most significant barriers to mass crypto adoption is that it is just too difficult to get started with. The software behind most core and multi-currency wallets is clunky and full of jargon, it takes too long to understand how to interact with crypto networks, and the visual and graphical elements of practically all core wallets are just plain ugly and uninviting.
Instead of just slapping on a fresh coat of paint and calling it a “new wallet”, we wanted to create something that is truly new and transformative, not just a collection of graphical tweaks and shuffling around some menus. We are starting fresh.
In the new core wallet version 4.0, the entire experience has been redesigned so that each action a user wishes to take can be done so in a logical and intuitive way. The visual elements have also been upgraded and reworked to reflect the needs of our constantly growing user base. For new users, the software provides built-in support and help features that provide guidance on how to complete a multitude of tasks such as how to get started staking.
We will never stop
We believe that the launch of the PIVX core wallet version 4.0 is not an endpoint, nor is it the final product of our development team. Instead, core wallet version 4.0 is the infrastructure upon which we will continue to build our future and stay ahead of the curve. The newly engineered wallet allows us to have total control over all current and future functions and features – something that was nearly impossible had we simply kept tweaking the decade-old original.
To us, this is just the first step towards a brighter and friendlier crypto-powered future. But this step forward definitely won’t be our last.