Pivx: better than Monero?

in cryptocurrency •  2 years ago  (edited)

PivX is an anonymous Peer-to-Peer currency which focuses on privacy and real world transactions. PivX used to be known Darknet. It is a fork of Dash but has a completely different algorithm.

Pivx copyright

Algorithm:

Pivx is based on the latest Bitcoin 0.10.x which is much better compared to the other PoS currencies which are using an older one.

Privacy:

Transactions are totally anonymized thanks to the zerocoin p2p protocol (optional protocol for now). With zero knowledge proof, the only information provided is that the transaction was sent and received. The history of the transaction is completely hidden and cannot be retraced. Consequently, the coins can’t be blacklisted. Going forward, the privacy option will become the default.

Fast Transactions:

Using the SwiftX technology, it takes only 1 second to complete a transaction (vs 1-2min for Monero) . The network of Masternodes guarantee the validity of the transactions. If you use the standard transaction, it is slightly slower for the transaction to complete but still very fast (around 60 seconds).

Low fees:

Less than 1 cent for standard transaction and a 10th of a Pivx for SwiftTX transactions which is much lower than Monero.

Proof of stakes:

The protocol is based on Proof of Stakes. Users can stake their coins through their wallet to reinforce the network and get rewarded by doing so. You can become a Masternode if you stake 10,000 Pivx which gives you a better reward. Staking your coins create an incentive for keeping the coins for the long term in your wallet. It’s important because a lot of other coins are trying to switch to PoS while it’s already existing for Pivx. PoW is in my opinion something of the past, a complete waste of electricity and tend to create mining monopolies so this is a clear advantage for Pivx.

Community driven

The code source is open source and developed by an important community. They are around 300 contributors since inception on their Github. Their twitter has 61k followers. The community is large and dynamic which bodes well for the future. They also seem to be consistent when it comes to their roadmap which is also a good sign. They have 2 whitepapers right now on their website, one is focusing on the zerocoin protocol and the other one on the reward balance system, they both seem quite complete and well explained.

Total Supply:

The current supply is around 55M which is less than Ethereum for instance. However there is no total supply. The inflation rate has a low inflation of 2.3-2.6M per year and decreases every year.

Recommendation:

Any good portfolio should contain a privacy coin and I think Pivx is a good choice, technically speaking, it is superior compared to the other privacy coins like Monero, Zcash or Dash with faster, cheaper transactions and a reliable PoS. The current price is $4.92 which is a 66% discount compared to ATH. With a low supply and inflation rate, I believe it can be a good investment in both the short term (since we are experiencing a nice bull movement currently) and the long term with opportunity for regular income through the PoS system and further enhancements. As usual, do your own research before investing. I’m not a financial advisor.

Post republished on my new website: https://queo.io/en/blog/pivx-better-than-monero

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Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin8214.220$1.52%12.3%
DASHDash412.691$5.94%26.44%
ETHEthereum535.769$4.01%20.08%
XMRMonero229.281$1.88%29.13%
ZECZcash246.217$4.3%25.74%