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Feb 25, 2024PIVX is thrilled to announce the launch of PIVX’s Core Wallet v5.6.1!

PIVX is thrilled to announce the launch of update v5.6.1, a crucial upgrade required for all users, including exchanges and service providers. It’s imperative that everyone updates their software prior to the implementation of the new Exchange Addresses to ensure seamless operations. With the upcoming activation height set at 4281680, the network will begin to isolate older versions to facilitate a smooth transition.

For most users, the update does not introduce any significant changes, except for the inability to send Shield Transactions to Exchange Addresses. Updating is straightforward: simply replace your existing pivxd or pivx-qt application with the latest version, or install the update via our provided installer packages.

For exchanges and service providers, the update introduces a novel feature — the “Exchange Address.” This innovation aims to simplify regulatory compliance and minimize accounting challenges associated with shielded transactions sent to exchanges. By utilizing the new RPC command getnewexchangeaddress, exchanges can generate these specialized addresses, which are identifiable by the “EXM” prefix, standing for Exchange Mainnet. This command also allows for labeling the new address, functioning similarly to existing commands like getnewaddress or getnewstakingaddress.

Additionally, the v5.6.1 update enhances the overall user experience with various quality-of-life improvements to the PIVX Core. These enhancements include upgraded GUI features, the ability to generate proposal addresses directly when creating proposals, CoinControl for selecting inputs for master nodes, the option to lock shield notes, and more. For a comprehensive overview of all the new features and improvements, we encourage you to read the release notes.

Please note that by block 4281680, the new Exchange Addresses will activate on chain, which should be around Feb 29th at 12:00 PM UTC. We will be sending our upgrade spork around ~48 hours before that, so please be sure to update before that to avoid any potential forking. All MNs will need to be “restarted” (the controller wallet will need to issue a new start message) during this upgrade.

This update is a testament to our commitment to continually enhancing the PIVX platform for all users, exchanges, and service providers

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James Stewart

PIVX Labs, Core Developer.