About PIVX (PIVX)
PIVX is a privacy-centered decentralized platform that promotes the concept of “Shielded transactions.” SHIELD technology has been developed and popularized by the PIVX second-layer blockchain and decentralized platform.
Shielded transactions are unique in that they are still verifiable on the blockchain, but at the same time, details of the transaction, such as sender address and transaction amount, are covered. Only authorized parties can access the information shared by the sender.The necessary technology which enables and supports such functionality is made available by the PIVX platform.
The PIVX decentralized protocol is technically classified as a User Financial Data Protection network. Users and token holders are recognized as community members, as the platform is governed by a DAO (decentralized autonomous organization) protocol. The underlying DAO model enables all network token holders to vote on platform proposals for upgrades and changes to the protocols.
The SHIELD innovation utilizes zk-SNARK technology, which is a zero-Knowledge (zk) implementation that enables transactions to be verified without needing to reveal the details of the transaction itself. Additionally, PIVX is a Proof-of-Stake (PoS) blockchain ecosystem and layer 2 protocol. The PoS mechanism enables network token holders to earn rewards for providing liquidity to the platform.
As a secured mechanism, the network enables community participants to engage in cold staking. The concept of cold staking differs from traditional staking in that holders are able to keep their staked liquidity in cold storage.
Cold storage is the process of keeping cryptocurrency assets offline where they are unable to be digitally compromised. The relevance and value of cold storage can be considered rather significant, as many blockchains and blockchain protocols have been targeted and compromised in recent times more than ever.
Individuals who operate masternodes are said to be given the opportunity to participate in DAO community governance. According to the PIVX platform, they are rewarded for doing so. The layer 2 protocol integrates with Masternode technology to enable the on-chain DAO voting functionality used to weigh votes on proposed network modifications.
The cryptocurrency which empowers the layer 2 protocol, is known by its token ticker $PIVX. The current price of PIVX is updated and available in real-time on Binance.
