PIVX Privacy Coin for Instant Transactions
Private Instant Verified Transactions or PIVX is a privacy coin that forked off Dash. The project’s team focused their attention on bringing a fast, privacy-oriented cryptocurrency that will take minimal transaction fees. Apart from Dash, PIVX’s main competition comes from other privacy coins such as Monero, Zcash, and Verge.
Differences from Dash
PIVX forked from Dash and launched in January 2016. Ironically, the main point of disagreement was the consensus algorithm. PIVX chose the Proof-of-Stake while Dash remained on Proof-of-Work. Another move to a fairer (as PIVX developers see it) system was implementing the See-Saw mechanism that balances the block reward payments.
PIVX Coin Features
There is no maximum supply hard cap for PIVX coin with the system allowing for 2.6M coins to be mined per year. 10% goes on funding development, and 90% of newly mined coins are spread between the Masternodes (holders of 10K PIVX) and staking wallets (any wallet with available PIVX). The balance being implemented by the aforementioned See-Saw mechanism.