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Private Instant Verified Transaction
About Private Instant Verified Transaction
PIVX is a digital currency that operates on a decentralized blockchain, using a combination of proof-of-stake (PoS) and a custom version of the Zerocoin protocol for private transactions. The PIVX project aims to establish a decentralized autonomous organization (DAO) with a self-sustaining economic model that empowers its community. The PIVX token (PIV) is used as a medium of exchange, store of value, and for transaction fees and staking rewards. PIVX was created by two developers, CoinServer and s3v3nh4cks, in January 2016 as a fork of DASH and is now maintained by a decentralized team.
*The Token* PIVX is a digital currency that operates on a decentralized blockchain. It uses a combination of proof-of-stake (PoS) and a custom version of the Zerocoin protocol, which allows users to make private transactions. The PIVX token, denoted as PIV, serves as the medium of exchange within the network and is used for transaction fees and rewards.
*The Project* PIVX is not just a cryptocurrency but also a project that aims to establish a decentralized autonomous organization (DAO). The goal of the PIVX project is to create a self-sustaining economic model that empowers its community by enabling them to participate in the decision-making process. The PIVX community can propose and vote on changes to the network, which could include decisions on budget allocation, development, or marketing strategies.
The PIVX token (PIV) is primarily used as a medium of exchange and store of value. It is also used for transaction fees and staking rewards. Staking PIV tokens allows users to participate in the network's governance and earn rewards for helping to secure the network. Additionally, PIV can be held or traded like any other cryptocurrency on various exchanges.