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An MIT licensed, open source, decentralized blockchain-based cryptocurrency focused on becoming one of the best online digital currencies.
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PIVX is a proof-of-stake consensus blockchain with a decentralized governance structure, which splits mined tokens between miners and masternodes. It is a hard fork of Dash, which still operates on a proof-of-work algorithm, and has a faster block time of roughly 1 minute versus Dash’s 2.5 minutes.
PIVX maintains Dash’s innovations, including instant transactions and privacy via coin mixing, all facilitated by masternodes. PIVX rewards stakers and masternode operators roughly equally. It uses a “seesaw” algorithm that rebalances rewards when there is more income generated by stakers than masternodes, and vice versa. They split 5 PIVX per block, with blocks are created every 60 seconds.
PIVX Proof-of-stake (PoS)
The staking consensus used by PIVX has no minimum token amount and so staking can be quickly and easily established. Blocks earned by regular staking will generate 2 PIV for the staking party, with the remaining rewards going to masternodes and to the community fund.
In 2018 PIVX introduced a fully private staking procedure, called zPIV staking. This fully obscures any identifiable information of staking nodes, creating a more complete privacy ecosystem. zPIV staking returns greater rewards per block found - 3 PIV per block compared to 2 PIV in regular staking.