Question 1

How has PIVX (PIVX) been performing in the market recently?

Accepted Answer

As of the most recent data available, PIVX currently has a market rank of #1627. It has a notable market capitalization of A$ 3.9M, which illustrates both its relevance and influence within the overwhelming array of cryptocurrencies available today. The price per PIVX coin, at the moment, is A$ 0.03690187. Over the last 24 hours, PIVX has decreased by -2.75%, and the total trading volume of PIVX over this period was approximately 1.6M.

Question 2

What exactly is PIVX (PIVX)?

Accepted Answer

PIVX is a decentralized, open-source cryptocurrency project, which is governed and developed by a community-driven decentralized autonomous organization (DAO). The coin is denoted as PIV and runs on a Proof-of-Stake algorithm. A notable feature of PIVX is its user data protection protocols achieved through SHIELD, a highly customized protocol based on zk-SNARKs Sapling. PIVX places a heavy emphasis on user data protection and has pioneered in this area since its inception.

Question 3

Who facilitated the creation of PIVX?

Accepted Answer

PIVX was announced to the public on November 25, 2015, and launched fair on January 30, 2016. It set a precedent by launching without an ICO, instamine or any perpetual developer premine. This makes it one of the few cryptocurrencies that were completely fair-launched. While the exact individuals behind its creation are not explicitly named, it's clear that the project values community involvement and decentralized governance.

Question 4

How does PIVX coin operate?

Accepted Answer

PIVX operates through a Proof-of-Stake consensus algorithm. The coin PIV, is used as both a medium for digital exchange and reward for those contributing to the security, decentralization, and governance of the PIVX network. Adding to the basic functionality, PIVX also possesses a second layer through the Masternode network which provides a decentralized voting mechanism. PIVX coin supply is a result of static block emission rate plus the payouts from any monthly budget allocation, and it is kept in check by burning all transaction fees, making PIVX's supply dynamics unique.

Question 5

What makes PIVX's technology special?

Accepted Answer

PIVX's pioneering efforts in user data protection and Proof-of-Stake (PoS) mechanisms give it a unique recognition in the crypto space. Most imminently, it's the SHIELD protocol, a highly customized anonymity feature based on zk-SNARKs Sapling integrated with PoS, which gives a surprising edge to PIVX's user data protection. Furthermore, PIVX's dynamic coin supply adjusted by transaction fee burning and the decentralized governance through its Masternode network also set it apart from many cryptocurrencies.

Question 6

How much PIVX is currently in circulation?

Accepted Answer

As indicated by the latest data, PIVX currently has a circulating supply of approximately 105.0M PIVX coins. The total supply of PIVX, on the other hand, is about 105.0M coins.

Question 7

Is PIVX a valid payment method?

Accepted Answer

PIVX, as an independent blockchain, is application and payment agnostic. It uses PIV not just for user data preservation and near-instant digital currency exchanges, but also as a reward for the stakeholders who help secure and govern the PIVX network. This makes PIVX a viable option for digital payments.

Question 8

Where can you buy PIVX (PIVX)?

Accepted Answer

PIVX is currently available for purchase on several cryptocurrency exchanges. Some of the popular platforms on which you can buy PIVX include BitMart, TradeOgre, Binance, CoinEx. Be sure to verify the authenticity and security of the platform before making any purchase.

Question 9

How can you ensure your PIVX coins are secure?

Accepted Answer

Just like any other digital asset, the security of your PIVX coins is crucial. It's always advisable to store your PIVX in a digital wallet rather than on an exchange to mitigate the risk of loss due to hacking. There are several reliable crypto wallets available, both hardware and software, that you can choose from based on your convenience and needs. Always remember to baseline the security of your wallet: strong, unique passwords, two-factor authentication, and regular software updates are simple yet effective ways to enhance the security of your digital assets.

Convert PIVX to AUD

Try our Crypto Pro app