PIVX has set the bar once again by becoming the first cryptocurrency to enable private Proof of Stake with their latest update to Core Wallet 188.8.131.52 This update provides users the ability to earn staking rewards of their
No other privacy-focused cryptocurrency has yet to accomplish this difficult technical feat. To date, other privacy coins in the market have only managed to offer private transactions through proof-of-work mining algorithms. This means PIVX now provides both total anonymity and PoS mining.
To many, proof-of-stake mining (PoS) presents an exciting and potentially lucrative alternative to proof-of-work mining. In many ways, PoS is a lot like earning interest in a bank account or earning dividends from the stock market. By participating in the network, you earn rewards just like with mining.
Understanding zPIV: Casino chip-like privacy features
PIVX uses a sort of sub-currency called
When a user sends
Think of it this way: Sending Bitcoin is like sending a bank transfer to someone else’s bank account. The bank has a record of what happened, and they can refer to it at any time. Using
Privacy and PoS, together with zPoS
As a major feature in the latest version of the PIVX wallet, version 3.1 rolled out in early-May 2018, users can now stake their
“zPoS is a major step forward for decentralized cryptocurrency technology at large because it allows for the freedom to maintain one’s own private crypto balances (with zPIV), and to earn rewards privately and securely. It’s akin to having your own personal growth account, outside the prying eyes of hackers, scammers, and other entities that would otherwise spy on your data and use it for their purposes.”
In addition to the new privacy features, those who stake
Why increase the reward? The more people on the network that use
Secondly, converting PIVX into
Lastly as using