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Jan 26, 2021PIVX SHIELD Network Upgrade Announcement

PIVX SHIELD Network Upgrade on Mainnet is less than 4 days away! Network enforcement to protocol version 70921 is scheduled to take effect from block height 2700500, at around January 30th 2021, 6 AM GMT.

SHIELD is close to activation!

As first announced in the PIVX 5.0 launch post, we are fast approaching the SHIELD protocol enforcement block, with the network enforcement to protocol version 70921 scheduled to take effect from block height 2700500, which is expected to occur at approx. January 30th 2021, 06:25 GMT

From that point onward, SHIELD, our next generation Financial Data Protection protocol, will be activated for users to be able to perform financial metadata protected transactions on the PIVX blockchain.

PIVX project is extremely proud and excited to contribute to the cryptocurrency space by raising the bar in the industry by achieving another revolutionary milestone. PIVX SHIELD protocol is the first of its kind, by custom-integrating the Sapling protocol into a Proof of Stake mainnet blockchain.

v5.0.1 Mandatory Wallet Upgrade

As part of the upcoming protocol enforcement, all core desktop wallet users require running or upgrading to v5.0.1 in order to participate on the upgraded blockchain.

This means that if you are still running v5.0.0 or lower, we urge you to upgrade prior to the network enforcement block mentioned above to avoid any sync issues. If you do upgrade after the network enforcement date, the best recovery method is to resync the blockchain from scratch.

If you need any wallet assistance or support before or after the upgrade, we welcome you to join the PIVX Discord to get support from our team and community in the #support channel. (Note: We only recommend receiving support publicly and not through private messaging whenever possible to prevent phishing attacks.)

The latest v5.0.1 binaries can be downloaded here:
https://github.com/PIVX-Project/PIVX/release

New Recommendation for Exchanges

As part of tightening the internal security processes and risk reduction for exchanges that transact PIVX, we propose a revised recommendation on deposit confirmation count.

Original
- 20 block confirmations for PIVX deposit (20 minutes)

Revised
- 60 block confirmations for PIVX deposit (60 minutes)

This change will give significant increase in time for PIVX team and its community to determine and notify exchanges when a malicious activity on the PIVX blockchain is detected.

Note: Standard PIVX transaction is validated on the blockchain after 6 confirmations, and post-stake spend maturity requires 100 confirmations. As PIVX utilizes a Proof of Stake consensus algorithm that require coin owners to validate the blockchain, it is extremely unlikely that a malicious actor will succeed in validating that many consecutive blocks in a row without owning a significant percentage (majority) of the PIVX coin supply. However, in case of unexpected chain split scenarios or forms of attack, it was determined that increasing the deposit confirmation time was required in order to give us the extra time to notify the exchanges before any irreversible damage is done to our open markets.

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MSc in Business Economics, SEO expert, PIVX core marketing and business development team member, cryptocurrency addict since 2016, PIVX supporter since 2017.

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