PIVX Developer Furszy demos the first ever Zerocoin mint and spend on a mobile wallet using the brand new Zerocoin Light Protocol

in cryptocurrency •  3 months ago

https://pivx.org/

zPIV for mobile is moving into testing this week, using the first-ever Zerocoin light protocol. With this, light nodes that don't store the entire blockchain can mint/spend zPIV. PIVX Core developer Furszy (Mobile and Light Wallet) provided a demo of an in-app zPIV mint & spend.

https://www.reddit.com/r/pivx/comments/98zyit/pivx_developer_furszy_demos_the_first_ever/

https://www.youtube.com/channel/UCr4Wk2opstIsUvMOz9quFSg

https://twitter.com/_pivx/status/1031722177970823175?s=19

PIVX is the most decentralized coin in my opinion. ASIC based cryptos are not decentralized because if the big players team together there is a threat of 51% attack on coins as large as Litecoin. The non-ASIC cryptos that are POW are not decentralized or long term sustainable because they require thousands and thousands of independent miners all across the world, coins like Vertcoin have done this job well but the whole process seems like it would just consume more and more energy and real world resources than it is worth to just have inflation. This kind of POW is better than ASIC mining but can also be compromised by 51% attack if the market cap is low enough. POS coins are obviously more long term sustainable than POW for these reasons in my personal opinion.

PIVX's unique and advanced version of POS using zerocoin technology and masternodes is extremely important to the decentralization of PIVX. Using a tier 1 and tier 2 governance method enables for the community to make the best possible decisions compared to just masternodes or stakers making the decisions for the network's future. Most importantly the zerocoin stakers are 100% anonymous and untraceable so if any government or private organization wanted to physically go door to door shutting down stakers, they could not because it would be impossible. If the Chinese government wanted to shut down Litecoin mining in China, it would probably take them 3 months to shut down 80% of the large ASIC farms and maybe damage Litecoin hash rate by 20-40%.

The reason why DASH will fail is because the masternodes control everything, they remind me of the Bitcoin community when it split into Bitcoin and Bitcoin Cash last year around this time. The big players like Bitmain control the network in a Mt Gox like fashion and for a long time the community was completely divided. By having both staking and masternode governance we are able to have all the benefits of the masternodes as well as thousands and thousands of individual stakers all around the world anonymously securing the network. I believe that DASH's market cap with be drained into PIVX once the market finds out about PIVX's advantages and one day PIVX will be larger market cap than DASH.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Great job PIVX Developer! Thumbs up for the ability to use Zerocoin mint and spend on a mobile wallet through the brand new Zerocoin Light Protocol.

This is amazing news I hope PIVX can go further in decentralised exchange

You got a 23.23% upvote from @upmewhale courtesy of @cryptno!

Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!

really good and amazing hard work....

it's looks great 👏

Great article sir keep it up...I miss you sir...After a long time you have come back to the steemit👍

Posted using Partiko Android

Mint without need of storing whole blockchain ... sounds amazing.

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin6729.816$6.27%6.79%
DASHDash149.319$3.64%1.06%
LTCLitecoin58.037$6.87%5.05%
PIVXPIVX1.239$16.43%20.49%
VTCVertcoin0.735$6.89%9.14%
·

LOL

PIVX top gainer in 24hr and 7d

Now it's best example of Blockchain + Crypto, I think so...!
Great post.