Trade PIVX - PIVX Markets, Exchanges, Broker
PIVX Coin is an open source crypto currency. It has a market capital of 191 million US dollars, of which almost one million US dollars are traded every 24 hours. In the company's manifesto, PIVX describes that privacy is a human right.
It also includes the freedom to share information as everyone wants, but also to prevent others from viewing their own information. Furthermore, the company believes that governments have a duty to evolve as technology advances.
PIVX Coin - The Crypto Currency
The crypto currency PIVX works with the Quark algorithm. This algorithm was programmed to work with little memory and energy. The algorithm is lightweight, so to speak. Lightweights are especially necessary at the interface between cryptographic protocols and RFID technology. The Quark algorithm allows mining with little storage space.
The algorithm is based on the sponge principle. A sponge algorithm stores even a limited amount of information, but can process any amount of input/output. Like a sponge on the seabed, data such as sea water can flow through the algorithm.
The algorithm always stores the same amount of information, only the value of the information changes continuously. The sea water in a sponge does not always remain the same. Therefore, this algorithm is well suited for applications where even little storage space is available.
The algorithm combines three instances. Each instance has a different compatibility. The "lightest" instance, u-Quark, guarantees security against attacks such as collisions and multi-collisions even at 64 bits. u-Quark is compatible with 1379 gates and requires 2.44 watts at 100 kHz.
Miners need 60 seconds to find a block. Up to block number 151,200, miners receive a reward of 250 PIVX Coins per block and from 151,201 to 259,200 50 PIVX Coins, etc. From block number 648.000 there will be only 5 PIVX Coins left as a reward. In total there will be 43.166.500 PIVX Coins.
PIVX Coins - Functions
PIVX works with coin mixers. Coin mixers disguise the trace of the crypto currency. Curious people who want to follow a transaction will find it more difficult with coin mixers. Similarly as with tax money, which flows over Panama or the Bahamas, the trace of the own money cannot be pursued any longer.
Coin mixers mix data traces from the most diverse sources of money with each other. PIVX works with CoinJoin. Through this mixing, PIVX increases the privacy of its own customers. PIVX also works with SwiftTX, which enables very fast transactions. This is ensured by master nodes. Master Nodes are computers that must have at least 10,000 PIVX Coins.
Master Nodes are also allowed to vote on the budget and future developments of PIVX. Another feature is the "see and be seen" mechanism. The principle is simple. The more master nodes there are, the more difficult it becomes to find blocks. The more blocks that are found, the fewer master nodes there are.
This leads to the fact that master nodes require a capital of 10,000 PIVX coins, that there are neither too few nor too many master nodes and that these two factors regulate each other. PIVX works with the PoS 3.0 Bitcoin Core 0.10.x. This means that users who want to make a bigger profit should always have their wallet open. This means that more nodes are available, which in turn strengthens the network.
Conclusion
PIVX regards the private sphere as a human right. For this purpose, the crypto currency is designed in such a way that it becomes almost impossible to track transactions. This is guaranteed by coin mixers.
The algorithm of PIVX works very efficiently and is also applicable to devices with little storage space. The stability of the network is maintained by master nodes. The network provides a stable relationship between master nodes and findable blocks via the see-and-see mechanism.