Private Instant Verified Transaction
A Bit About PIVX
PIVX is a cryptocurrency, much like a distant cousin of Bitcoin. They serve the same purpose as their cousin, they seek to be the currency of the future and they exist entirely in the digital space. Where they differ is what makes them unique.
PIVX is a DAO, a Decentralized Autonomous Organization. There is no hierarchy, large holders of the currency get to vote on who will work to develop and promote the currency. These large holders even voted to disseminate voting power to smaller holders once the correct model has been found and built. The people control this currency.
PIVX is private. There is a belief that Bitcoin is this ultra-secret, dark currency, but the truth is that, with the right tools anyone can view Bitcoin transactions. It's not actually all that secret. PIVX is one of a small group of coins that have included features to make transactions more private. The reason for doing this is far from nefarious however. Financial privacy is a great equalizing force. With it, the poor can't be judged for being poor. As a result, they can't be excluded from the entire world of Finance. Currently, that is the case, but not forever. Not with currencies like PIVX trying to change the world.
PIVX is fast, very fast. If cryptocurrencies are ever to become mainstream, they need to be more functional than the money we have today. Bitcoin is notoriously slow. For a transaction to fully confirm, it takes at least 30 minutes. The same level of confirmation in PIVX takes 3 minutes. But, that still isn't fast enough to buy your coffee when there are people waiting behind you, is it? Well, PIVX has technology to make transactions instant when needed.
One of the best parts though, PIVX is sustainable. You may have heard that Bitcoin transactions soak up enough power to power 9 homes. Well, this isn't really true, but Bitcoin does use a lot of resources. What it is, is Bitcoin miners compete to be the person to verify a block of transactions every 10 minutes. They compete with computing power and they do this because there is a financial reward. This eats up a lot of power, but not 9 houses worth per transaction. PIVX however uses a different system called Proof of Stake. To participate, stakers (replacing miners) must have PIVX to compete for the right to verify that block. They don't need much, but it means that there is a limit to the competition. No one needs any more than their home computer to compete. Thereby taking away the massive power draw and environmental impact.
Where I Come In
I got involved with PIVX in June of 2017, working on a project called PaperPIV. It was a card that could be loaded with PIVX and given to people. It would come with online instructions to teach you all you need to know to get started with PIVX.
That project is currently on the shelf, but I got into writing, hosting, and editing a YouTube channel called PIVX Class. The channel teaches about all things crypto as well as some PIVX specific topics. The channel is sponsored by PIVX to help newcomers avoid costly mistakes and show that PIVX cares about the whole space. Not just themselves.
If you are interested in cryptocurrency, click the link below to find my channel. All the videos are created to be as non-tech as possible, so that everyone can learn.