To clear your doubts, privacy is not akin to malicious or anti-government. PIVX is open-source, licensed under MIT, and is committed to complying with global AML/CFT standards, including FATF regulations.
While I wouldn’t want to bore you with a long history of PIVX, here’s a compressed timeline of the project’s development.
· Launched on January 30th, 2016 under the name Darknet (DNET)
· Transitioned to Proof-of-Stake (PoS) after 259200 blocks
· Rebranded to PIVX on January 1, 2017
· Operates a robust decentralized autonomous organization (DAO), governed by masternode holders
· Became the first PoS network to enable transaction anonymity in October 2017
· Delivered SHIELD, a fully customized integration of zk-SNARKs, in 2020
· Multiple exchange listings and vendor integrations since inception
Getting Started with PIVX
1. Where to Store PIVX
You will need a wallet to store your PIV coins irrespective of how you choose to participate in the PIVX ecosystem. From the PIVX Core wallet to the much lighter MyPIVXWallet (MPW), third-party web wallets such as Komodo, Arctic, and NOW Wallet, there are a plethora of options to choose from.
As a rule of thumb, larger funds should be stored in cold storage such as the PIVX Core wallet or Ledger, while smaller amounts can be left on centralized exchanges for trading or the MPW for staking and masternoding.
2. How to Get PIVX
You can purchase PIV using fiat or other cryptocurrencies on exchanges that support it. Alternatively, you can acquire the coins through peer-to-peer trading platforms.
The cryptocurrency is listed on popular CEX such as Binance, MEXC, Gate.io, BitMart, XT.COM, and several others.
Another interesting way to obtain PIV coins is by participating in the ecosystem. The PIVX marketing team routinely hosts giveaways on social media.
3. Staking Your PIV Coins
Staking is one of the ways to participate in the PIVX ecosystem. Stakers secure the network and build the blockchain by creating the blocks and submitting them to the network. The interesting thing about staking PIV is that users can earn staking rewards while keeping their funds securely locked in offline cold storage.
Once a node has fully synchronized with the PIVX network and holds a minimum of 1 PIVX, it becomes eligible to participate in staking and contribute to network security. At the time this article was written, the estimated annual ROI was 13%. Check out this guide to learn more about staking your PIV coins.
4. Your Voice Matters, Become a Masternode Operator
Masternodes, and by extension, decentralized governance, is one of the cornerstones of PIVX. Masternodes provide layer 2 services such as instant send and additional security for the network. Hosting a PIVX masternode requires a 10,000 collateral, with an estimated ROI of around 15% per annum.
In addition to PIV rewards, masternodes are given voting rights to participate in governance.
PIVX’s decentralized governance system allows the community to propose and vote on projects, with masternodes playing a key role in decision-making. The treasury provides a monthly budget of 432,000 PIV for community-driven projects. Proposals that garner sufficient support from masternode holders are funded from this treasury.
PIVX. Your Rights. Your Privacy. Your Choice.
