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What is PIVX?

PIVX, or Private Instant Verified Transaction(Tx), is a decentralized Proof of Stake (PoS) blockchain-based cryptocurrency. It is licensed under the MIT open-source and is known for its unique features and capabilities.

What is PIVX trying to achieve?

• Dash/Bitcoin core source-code: PIVX is built upon Dash's source-code, derived from Bitcoin's source-code. However, it has customized the codebase with its own PoS algorithm and privacy protocol.
• Customized Proof of Stake algorithm: PIVX aims to enhance decentralization and energy efficiency. It has introduced a community voting governance system to become the ultimate people's fungible cryptocurrency. Since transitioning to PoS in August 2016, PIVX relies on its Proof of Stake consensus algorithm for block generation, where stakers holding PIVX in a PIVX wallet issue blocks.
• Masternode network: PIVX includes a second-tier masternode network that allows users to set up specialized full-node wallets with 10,000 PIV as collateral. These masternodes participate in decentralized treasury voting governance and receive a portion of the block reward. The treasury pays out proposals each month in a fully decentralized manner.

What sets PIVX apart?

PIVX is a decentralized autonomous organization (DAO) that is self-funded and community-driven. It has the ability to fund development and network supporting activities through monthly treasury payouts, based on successfully voted community proposals. Additionally, PIVX burns 100% of all transaction fees, making it a pioneer in Proof of Stake Privacy/User Data Protection. It also utilizes a Tier Two layer in its network with masternodes for governance and requires only 1 PIV to stake.

PIVX boasts several cryptocurrency and blockchain firsts, including being the first Proof of Stake project with masternodes and blockchain-based governance, the first Proof of Stake project with blockchain-based community self-sustainable funding, and the first Proof of Stake coin to control inflation by burning transaction fees. It has also implemented the Zerocoin protocol and achieved natively translated websites in 30+ languages. Moreover, PIVX is the first Proof of Stake project to implement private staking and successfully implement zk-SNARKs based Sapling privacy protocol on a Proof of Stake blockchain.

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