I have heard a lot of hype around PIVX in the last few months and I was looking to get involved. However I don't get the hype and was wondering what does this coin have going for it that the other coins don't like XMR and DASH don't? Also what is POS 2.0-3.0? I know of regular POS but is this a POS on steroids? Haha, kindly please and thank you for help!
Different tech. The following highlights a few of PIVX's unique features as compared to other privacy coins; it's not meant to say 'DASH sucks' or whatever; just highlight differences. I also don't claim this to be an exhaustive or authoritative list; others may have more to add.
- Anonymization: XMR (and XSPEC) use(s) ring signatures. PIVX, like DASH, uses CoinJoin. As of about a month ago, PIVX uses Zerocoin protocol in addition to the privacy features it shares with DASH. The Zerocoin implementation will continue to evolve; for example, deterministic zPiv generation will be rolled out soon.
- Block time: PIVX is among the fastest. 60s for PIVX, vs. also 60s for XSPEC, vs. 120s for XMR, vs. 150s+ for DASH. Both DASH and PIVX also use InstantSend.
- Algorithm: XMR = PoW (CryptoNight); DASH = masternodes + PoW (x11); XSPEC = full-time PoS only; PIVX = full-time PoS + masternodes. (*see note below re: PoS)
- Governance: DASH and PIVX both have masternode voting, whereas XMR and XSPEC do not. Uniquely, PIVX incorporates a 'see-saw' mechanism to balance the value of staking vs. running a masternode: The more MNs are in operation, the lower the reward and the greater the benefits of staking, and
vice versa. New voting/governance proposals are currently under evaluation, with the goal of further democratization (i.e., voting shouldn't be exclusively in the hands of masternode holders).
- Supply: Currently, just under 8 million DASH, ~15.5 million XMR, ~21 million XSPEC, and 55 million PIVX. All are theoretically inflationary, but various factors will keep their supplies from increasing to infinity. For example, transaction fees on the PIVX network are burned, meaning that PIVX actually has the potential to become
deflationary.
- Other features of PIVX: In-wallet multi-signature escrow; Android and (soon) iOS wallets; plans for a decentralized exchange (zDEX); support of 30 (and counting) languages; active community (not so much on BCT but on Slack/forum); reliable devs; no past controversies
ala DASH's 'instamine'.
Basically, XMR goes for privacy at the expense of convenience as a currency (ring sigs are computationally intense). DASH, like Bitcoin, was the first of its kind and has brand recognition and market share despite not necessarily being the most advanced technology, and again at the expense of some convenience as a currency (slow block times). PIVX strives to build on DASH, improve on it, and incorporate stronger anonymity features (Zerocoin protocol), while ALSO maintaining convenience as an actual currency (fast block times, low tx fees, etc.). XSPEC is earlier in its development cycle, but is more or less trying to be to Monero what PIVX is to DASH.
TL;DR: PIVX is faster than DASH or XMR and, with the implementation of Zerocoin protocol, is as/more secure. It has a unique solution to community governance, and strong plans for continued development and real-world adoption.
Someone else will have to address your PoS version # question.
*Re: PoS
https://www.reddit.com/r/CryptoMarkets/comments/7du73v/promoting_asic_resistance_in_2017_is_like/?st=jalplu9i&sh=4aac68e3**edited re: Fuzzbawls' comment below.
Poll
