[ANN][PIVX] - PRIVATE INSTANT VERIFIED TRANSACTION - PROOF OF STAKE - ZEROCOIN

[jakiman]

This is a quote from presstab in the slack:

 presstab
@dromund we are working on implementing zerocoin into Pivx. We are beginning the testing phase right now and things are looking good.

Huuuu, copycat copies another popular feature, lol.

FYI - no proof of stake coin has ever implemented libzerocoin as it was designed for Proof of Work.
So there is no coin to "copy" this from. PIVX will have a custom implementation of libzerocoin.

Also, zerocoin is a protocol. https://isi.jhu.edu/~mgreen/ZerocoinOakland.pdf

-------

I guess most don't know what libzerocoin means. It essentially creates a "zerocoin" layer between the end-to-end PIVX transaction where it completely severs the association between your transferred PIVX and the received PIVX during the transfer. It's like taking your cash (PIVX) to the casino, getting some chips (zerocoins), then changing your chips (zerocoins) back into cash (PIVX). Due to that, the 2 ends of cash (PIVX) transactions are no longer linked as different cash (PIVX) was provided from the casino (zerocoin pool). This allows 100% provable untraceable transactions. You still see the end-to-end transaction amount.

Now, some people might go "I don't care about my transactions being private. Why should I care?"

Well, you should care. What happens if there is a big arms/drgus dealings using your crypto of choice. (e.g. Bitcoin) Now, after they used it and then cashed it out etc, what happens you end up with those coins. Now, feds, nsa, cia etc etc can trace every one of those transactions as you know through the block explorer. Then they might knock at your door as they traced some of those coins being transferred to your coin address somehow. You might say I don't know anything about it, but there's clear proof in the block explorer where you did receive a portion of those "tainted" coins. and could be quite complicated for you to prove that you weren't part of that. But with every PIVX transaction going through the new upcoming zerocoin protocol, you won't have to worry about that as your coins will have a clean history. (It will be enabled by default so no one really needs to know how to use it etc, it just works)

FYI - No coin provides this kind of anonimity by default right now. Hence this is very big if PIVX devs can make this happen. It will be a first in crypto afaik.

[1714195079]

1714195079

[1714195079]

1714195079

[1714195079]

1714195079

[klimsss42]

This is a quote from presstab in the slack:

 presstab
@dromund we are working on implementing zerocoin into Pivx. We are beginning the testing phase right now and things are looking good.

Huuuu, copycat copies another popular feature, lol.

FYI - no proof of stake coin has ever implemented libzerocoin as it was designed for Proof of Work.
So there is no coin to "copy" this from. PIVX will have a custom implementation of libzerocoin.

Also, zerocoin is a protocol. https://isi.jhu.edu/~mgreen/ZerocoinOakland.pdf

-------

I guess most don't know what libzerocoin means. It essentially creates a "zerocoin" layer between the end-to-end PIVX transaction where it completely severs the association between your transferred PIVX and the received PIVX during the transfer. It's like taking your cash (PIVX) to the casino, getting some chips (zerocoins), then changing your chips (zerocoins) back into cash (PIVX). Due to that, the 2 ends of cash (PIVX) transactions are no longer linked as different cash (PIVX) was provided from the casino (zerocoin pool). This allows 100% provable untraceable transactions. You still see the end-to-end transaction amount.

Now, some people might go "I don't care about my transactions being private. Why should I care?"

Well, you should care. What happens if there is a big arms/drgus dealings using your crypto of choice. (e.g. Bitcoin) Now, after they used it and then cashed it out etc, what happens you end up with those coins. Now, feds, nsa, cia etc etc can trace every one of those transactions as you know through the block explorer. Then they might knock at your door as they traced some of those coins being transferred to your coin address somehow. You might say I don't know anything about it, but there's clear proof in the block explorer where you did receive a portion of those "tainted" coins. and could be quite complicated for you to prove that you weren't part of that. But with every PIVX transaction going through the new upcoming zerocoin protocol, you won't have to worry about that as your coins will have a clean history. (It will be enabled by default so no one really needs to know how to use it etc, it just works)

FYI - No coin provides this kind of anonimity by default right now. Hence this is very big if PIVX devs can make this happen. It will be a first in crypto afaik.

Excellent answer!

Keep up the great work!

[Assman]

This is a quote from presstab in the slack:

 presstab
@dromund we are working on implementing zerocoin into Pivx. We are beginning the testing phase right now and things are looking good.

Huuuu, copycat copies another popular feature, lol.

FYI - no proof of stake coin has ever implemented libzerocoin as it was designed for Proof of Work.
So there is no coin to "copy" this from. PIVX will have a custom implementation of libzerocoin.

Also, zerocoin is a protocol. https://isi.jhu.edu/~mgreen/ZerocoinOakland.pdf

-------

I guess most don't know what libzerocoin means. It essentially creates a "zerocoin" layer between the end-to-end PIVX transaction where it completely severs the association between your transferred PIVX and the received PIVX during the transfer. It's like taking your cash (PIVX) to the casino, getting some chips (zerocoins), then changing your chips (zerocoins) back into cash (PIVX). Due to that, the 2 ends of cash (PIVX) transactions are no longer linked as different cash (PIVX) was provided from the casino (zerocoin pool). This allows 100% provable untraceable transactions. You still see the end-to-end transaction amount.

Now, some people might go "I don't care about my transactions being private. Why should I care?"

Well, you should care. What happens if there is a big arms/drgus dealings using your crypto of choice. (e.g. Bitcoin) Now, after they used it and then cashed it out etc, what happens you end up with those coins. Now, feds, nsa, cia etc etc can trace every one of those transactions as you know through the block explorer. Then they might knock at your door as they traced some of those coins being transferred to your coin address somehow. You might say I don't know anything about it, but there's clear proof in the block explorer where you did receive a portion of those "tainted" coins. and could be quite complicated for you to prove that you weren't part of that. But with every PIVX transaction going through the new upcoming zerocoin protocol, you won't have to worry about that as your coins will have a clean history. (It will be enabled by default so no one really needs to know how to use it etc, it just works)

FYI - No coin provides this kind of anonimity by default right now. Hence this is very big if PIVX devs can make this happen. It will be a first in crypto afaik.

Fully aroused

[presstab]

This is a quote from presstab in the slack:

 presstab
@dromund we are working on implementing zerocoin into Pivx. We are beginning the testing phase right now and things are looking good.

Just to clarify this a bit. We are testing the primitive stages of it right now (for example I successfully created a zerocoinmint transaction two nights ago, just creation.. not broadcasted or used or anything). We have most of the implementation code in place, but there is still plenty of code that needs to be added. We are not in a testnet phase yet, but are able to start testing zerocoin mints and spends. The goal is to make a pretty good unit test suite that will give us a good idea that everything is working as it should be, then do a testnet round. Then after testnet, expand the current implementation to be very very efficient, then test. Then add an intuitive user interface.

There is still plenty to accomplish, but the summary of the current statis of zerocoin implementation is "full speed ahead"!

[presstab]

FYI - no proof of stake coin has ever implemented libzerocoin as it was designed for Proof of Work.
So there is no coin to "copy" this from. PIVX will have a custom implementation of libzerocoin.

Also, zerocoin is a protocol. https://isi.jhu.edu/~mgreen/ZerocoinOakland.pdf

Yes and we are going to make zerocoin efficient and easy to use. Right now ZCoin is the only coin using the zerocoin protocol (zcash uses zerocash). Syncing 30,000 blocks on Zerocoin took me about 24 hours on my desktop that has plenty of computing power.  This would not be feasible for Pivx because it has many blocks and transactions. I have already begun implementation of items that are discussed in the actual zerocoin whitepaper that never got implemented into ZCoin, which will make the syncing process a lot less heavy, in fact if we use the accumulator checkpoints that are discussed in the whitepaper, then we will have very little overhead in the syncing process.

Besides having a more efficient implementation, we will have a much better implementation that makes the pool of zerocoins much larger. The larger the pool of coins, the more anonymous the transactions will be. It really is an exciting project to work on, I am going full tunnel vision with Pivx and zerocoin right now 

[tittensor]

Is anyone here having information about this coin going to raise prices or any information on this issue?
Currently the price of coin is falling and there is no sign of pump in the near term

[RAGEmond]

Is anyone here having information about this coin going to raise prices or any information on this issue?
Currently the price of coin is falling and there is no sign of pump in the near term

would interest me as well .. hope ppl will soon realize that PIVX is a good investment

[peteycamey]

no staking reward since 10-05

it has been 5 days.

is this normal? I have over 10,000 pivx.

[The Crypto Baron]

no staking reward since 10-05

it has been 5 days.

is this normal? I have over 10,000 pivx.

I got six yesterday, so it's working 

[jakiman]

no staking reward since 10-05

it has been 5 days.

is this normal? I have over 10,000 pivx.

It can be a bit of "normal" + "unlucky" but the consistency also can depend on how your inputs are setup.
I assume you are using 2.2.1 also? If not, I recommend you to upgrade as it's more secure & stable.

I have my 10k split 10 ways resulting in each input being approx 1000 PIV each.
It doesn't mean you get richer but does allow better utilization of your coins. (and more consistent minting frequency etc)
It's certainly better than having some of the 10K PIV in smaller inputs (e.g. 5 PIV) as a 5 PIV input might take 5 years to stake just once!
Here's something I whipped up to show how to use the built-in UTXO splitter to split your coins into multiple inputs automatically.
You don't need multiple addresses. Just send the coins back to the same single address if you want.

[jakiman]

Chinese BTC100 is now the 2nd biggest PIVX exchange by trade vol after only 2 full days of trading.
It is currently trading PIVX at around 9.9 Chinese Yuan ($1.40 USD) even with high 1% trading fees.

btc100.cn/newsview?id=228

[mikegi]

Chinese BTC100 is now the 2nd biggest PIVX exchange by trade vol after only 2 full days of trading.
It is currently trading PIVX at around 9.9 Chinese Yuan ($1.40 USD) even with high 1% trading fees.

btc100.cn/newsview?id=228

That's interesting. In this case, Coinmarketcap's method of sorting exchanges by volume is a bit unfortunate as it doesn't show up just under Bittrex. I would have missed it if I didn't scroll down.

[RAGEmond]

nice @jakiman thanks for sharing

[presstab]

Chinese BTC100 is now the 2nd biggest PIVX exchange by trade vol after only 2 full days of trading.
It is currently trading PIVX at around 9.9 Chinese Yuan ($1.40 USD) even with high 1% trading fees.

btc100.cn/newsview?id=228

Coinmarketcap does not include their volume in the total because

* Volume Excluded - No Trading Fees

If they have trading fees, we should get them to change that exclusion!

[midnight_miner]

This is a quote from presstab in the slack:

 presstab
@dromund we are working on implementing zerocoin into Pivx. We are beginning the testing phase right now and things are looking good.

Just to clarify this a bit. We are testing the primitive stages of it right now (for example I successfully created a zerocoinmint transaction two nights ago, just creation.. not broadcasted or used or anything). We have most of the implementation code in place, but there is still plenty of code that needs to be added. We are not in a testnet phase yet, but are able to start testing zerocoin mints and spends. The goal is to make a pretty good unit test suite that will give us a good idea that everything is working as it should be, then do a testnet round. Then after testnet, expand the current implementation to be very very efficient, then test. Then add an intuitive user interface.

There is still plenty to accomplish, but the summary of the current statis of zerocoin implementation is "full speed ahead"!

It is nice to see another 'AltCoin' moving the development of blockchain technology forward.

There is a lot of copy and clones out there, but there is also a handful of developers that are moving the technology forward and hopefully in a more user friendly direction.  It is not all about the newest feature, we need to make this technology usable to the general public eventually.

[jakiman]

Chinese BTC100 is now the 2nd biggest PIVX exchange by trade vol after only 2 full days of trading.
It is currently trading PIVX at around 9.9 Chinese Yuan ($1.40 USD) even with high 1% trading fees.

btc100.cn/newsview?id=228

Coinmarketcap does not include their volume in the total because

* Volume Excluded - No Trading Fees

If they have trading fees, we should get them to change that exclusion!

I've just submitted a question/request form to coinmarketcap.com to have BTC100 volume included for PIVX.

[bobitza202]

Don't worry about the price, there is still a lot of time ahead 

[Gravytrain]

yea just stack those pivx up.

[pumz]

I see this second chance for those who missed it at first pump to make their way by buying cheaper. Pivx will increase with updates and development gradually over the time but this time more solid for good. No worries as I saw this opportunity and will be long on for it after getting my buy orders filled hopefully soon.

[pwpwpw]

Once you encrypt the wallet and back it up, how many new addresses can you generate and still use the old backup (so no need for new wallet backup)? is it infinite or there are a limited number of wallet addresses that are instantly generated when the wallet is created ?