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

[lipatti]

If your curious on an estimate on the amount of rewards and frequency with staking pivx, here is a useful calculator.

http://pivx.cryptonode.co

I wouldn’t use a staking pool, As I prefer not to take the risk If giving control of coins to others if possible.

Thanks @fuongy. Just to add to that, those figures are based on theoretical conditions. For example, the default figure for staking assumes that 62.5% of the coins that can be staked are being staked (because of coins held on exchanges, zPiv (for now), people choosing not to stake, etc.), but I suspect the number is actually a bit lower. In any case, just using myself as an example (and converting to the parameters listed on cryptonode), over the past month I've been getting an average of 1 payout every 1.15 days from staking, for a monthly expected payout of just over 55 Piv, which is slightly higher than for MNs. It's been pretty consistent like this for a while now.

[lipatti]

If your curious on an estimate on the amount of rewards and frequency with staking pivx, here is a useful calculator.

http://pivx.cryptonode.co

I wouldn’t use a staking pool, As I prefer not to take the risk If giving control of coins to others if possible.

Thanks @fuongy. Just to add to that, those figures are based on theoretical conditions. For example, the default figure for staking assumes that 62.5% of the coins that can be staked are being staked (because of coins held on exchanges, zPiv (for now), people choosing not to stake, etc.), but I suspect the number is actually a bit lower. In any case, just using myself as an example (and converting to the parameters listed on cryptonode), over the past month I've been getting an average of 1 payout every 1.15 days from staking, for a monthly expected payout of just over 55 Piv, which is slightly higher than for MNs. It's been pretty consistent like this for a while now.

Hello,
What do you think about Zpiv ? Is it different in term off secury for our coins staking?
I saw the video but i did not understantd all the conversion...
 
Thanks ++

[fuongy]

Zpiv makes the coin more private, when you spend zpiv there is no link to your account.  I believe Security should be the same just more private, also staking zpiv will earn you more than staking PIV to incentivise the privacy.

[dtpcoins]

Ya. I hope that PIVX will pump more on this year.

[dtpcoins]

Prominent cryptographer Jonathan Bootle has joined the PIVX development team!
https://pivx.org/did-someone-say-bulletproofs/

[rebal15]

ZPIV Staking a First for Crypto - Due in Q1 2018

Users will be able to stake zPIV just like normal PIV, but also earn higher rewards and maximize privacy and ease of use. With the proposed new block reward system, zPIV staking block reward will be 50% larger than PIV staking rewards. Although PIVX already has orders of magnitude higher anonymity set sizes than most privacy coins, and maturation time to prevent timing attacks, zPIV staking will further optimize privacy by ensuring zPIV minting and spending occur more frequently.




with snippet youtube video from latest @snappy interview

https://www.youtube.com/watch?v=rwR90uJTcMs


Keep it Purple People!

it should be a reason for ZDEX, the reason is ZPIV staking.
what if all PIVX staker switch to ZPIV, how will be possible to make a block in pivx?

[EleanorZ]

What do you think about Zpiv ? Is it different in term off secury for our coins staking?

This is a bit of an oversimplification, but basically a zPiv is just an IOU or 'place holder' for a normal Piv. For privacy purposes, you might choose to convert Piv into zPiv, because zPiv aren't shown on the blockchain, can't be traced, etc. When zPiv are minted, they are all put into a big pool together and mixed around so it's (effectively) impossible to track which zPiv came from where. This is why the wallet mints 10% of your balance into zPiv unless you tell it not to: the pool of available zPiv needs to be maintained at a large enough size that this mixing action results in effective anonymity. When you convert zPiv back to Piv, you are redeeming your IOU, not for your specific Piv but for an equivalent Piv of unknown origin. So both Piv and zPiv are secure assuming you encrypt your wallet, don't let others have your private keys, etc. etc., but zPiv is secure AND anonymous. So, to be clear: it is very, very safe to stake normal Piv, assuming you encrypt your wallet and practice basic common sense with regard to the security of your staking computer. However, if complete anonymity and untraceability is important to you, then converting your Piv into zPiv provides an additional level of protection.

At the moment, the two problems are that you can't stake zPiv and you can't sell them on exchanges, so you need to convert them back into normal Piv if you want to do those things. Obviously, doing so reduces the anonymity. However, zPiv staking will be implemented in the next couple of months, so the first problem will be eliminated. This is a big deal, and I believe it's the first time this kind of anonymous staking feature will be available anywhere in crypto. The second problem will be addressed with the release of PIVX's decentralized exchange zDEX and (potentially) with the rise of other decentralized platforms that accept zPiv. Eventually, the goal is that zPiv will be become the 'standard' form of Piv (EDIT: see post below for more on this).

[EleanorZ]

what if all PIVX staker switch to ZPIV, how will be possible to make a block in pivx?

I'm addressing this in a separate comment because I suspect there's a fair bit of confusion about the issue, and it's important that people understand what's coming. We don't need any more excitement like with the not-very-well announced auto-zeromint 'surprise'.

First, once zPiv staking is implemented, new blocks will be found by MNs, regular Piv stakers, and zPiv stakers. While the outcome will be slightly different depending on who finds the block, the basic idea of 'finding a block' will be the same regardless. In other words, to directly answer the question, the implementation of zPiv simply provides another way in which new blocks can be made.

Now, here are some additional factors to consider re: the implementation of zPiv staking. I am not a Dev or in any way associated with the PIVX team; this is just based on my reading of publicly-available information--if a Dev contradicts this, believe them, not me.

First, the see-saw mechanism will be removed because 1 is the smallest zPiv accumulator value, and the block rewards will therefore have to be multiples of 1. The dynamic nature of the see-saw approach results in constantly varying fractions, which are unfortunately not compatible with zPiv. This will change the incentive structure somewhat, and in fact the new system will be deliberately designed to incentivize the conversion of Piv to zPiv. Which brings up the next point--

Second, block rewards will increase from 5 Piv to 6 Piv, distributed as follows:

• if a Piv staker or masternode finds the block: 3 Piv to MN; 2 Piv to Staker; 1 Piv to budget
• if a zPiv staker finds the block: 2 Piv to MN; 3 Piv to Staker; 1 Piv to budget

As you can see, this means that the total 'public' reward increases from 4.5, as it currently is, to 5. Meanwhile, the allocation to budget increases from 0.5, as it currently is, to 1 (as is currently the case, any unused budget--e.g. if there are not enough proposals to spend it--is burnt each month). You'll also see that the reward for staking zPiv is 50% greater than for staking regular Piv (3 vs. 2).

Third, the potential increase in supply is offset by the strong incentive to convert Piv to zPiv for the purposes of staking. zPiv transactions are more expensive, and fees (plus 'extra' budget) will continue to be burnt. If you run the math, it turns out that the 'tipping point' between inflation and deflation is somewhere between 2.8 and 10 zPiv (not Piv) transactions per second. (Variation is based on what assumptions you make; most likely numbers are toward the lower end of that range. Note also that because unused budget is burnt, voting for or against proposals effectively amounts to a choice between implementing a feature or reducing the supply). Whatever the exact tipping point number is, if zPiv transactions/second exceed that number then PIVX will be deflationary, even with the increased reward structure. Less than that number, and it will remain inflationary.

Overall, these changes are in line with PIVX's goal of implementing full-time anonymity features. Stakers are the primary block validators on a PoS network, while masternodes are 'facilitators' that offer an extra layer of verification, improve transaction time, and allow the blockchain to be downloaded faster. In effect, Stakers are 'must haves' while masternodes are 'nice-to-haves'; meanwhile, if full-time anonymity is considered important, then converting most Piv to zPiv is a borderline 'must have' also. The incentive being given to stake zPiv reinforces these facts and takes PIVX closer to full-time anonymity. Note also that non-masternode-based voting options will eventually be rolled out (https://github.com/PIVX-Project/CDG), so any significant increase in staking shouldn't adversely affect the passing of proposals or other governance activities in the long run.

Meanwhile, the allocation to budget is being increased to reflect the need for strong, ongoing development during this formative--and competitive--period. It will allow PIVX to continue to hire and pay the best Devs (for reference, currently core devs are paid 1000 Piv/mo to work full time) and implement new features faster and more successfully--and, if unused, it will be burnt and further reduce inflation. Long term, especially if/when PIVX's price increases, the budget allocation may be reduced, but even now it's less than the allocation found in many other projects. And the overall increase from 5 to 6 Piv per block is offset by the expected increase in the number of zPiv transactions. Fees will still be burnt, and PIVX will remain barely inflationary, or quite possibly deflationary as the number of transactions increases.

Finally, the system may need to be tweaked once implemented. It's difficult to foresee all ramifications of a change like this. The community is very active in discussing these kinds of things (mostly on Discord), so if anyone has more to add to the discussion there will certainly be opportunities.

[fuongy]

Thanks for the details @Eleanorz

Zpiv as standard would be quite an achievent, ecven if it is not with a larger zpiv pool would make pivx if not already one of the best privacy coins in my opinion.  Would Need to overcome the whole single digit zpiv if only being able to use zpiv in future as wouldn’t want 1 zpiv asthe minimum.

It’s good that pivx has a governance system so any issues can be resolved relatively quickly and with community voting giving everyone a vote.

I’m not on the team either but what you said seems pretty accurate to me.

I’m also pretty excited about the ledger masternode implementation.

I’m an iPhone user so pretty annoyed with Apple not approving the iOS app, although it’s expected that Apple wouldn’t make it easy.

[fuongy]

Pivxpress video for March 1

https://m.youtube.com/watch?v=_3GIjcGlCug

[Melody Jelly]

Pivxpress video for March 1

https://m.youtube.com/watch?v=_3GIjcGlCug

PIVX recover the lost confident. The community is very active and always willing to help.
I would like to buy PIVX for long-term investment, so I really want to know more about its development.

[fuongy]

Pivxpress video for March 1

https://m.youtube.com/watch?v=_3GIjcGlCug

PIVX recover the lost confident. The community is very active and always willing to help.
I would like to buy PIVX for long-term investment, so I really want to know more about its development.

Take a look at pivx roadmap, just some of the many things being worked on, if your technical the github is also actively worked on.

New wallet due in q1 so in March.

https://pivx.org/what-is-pivx/roadmap/

In last week alone has had many interviews, presence at events , additional members joining development.

Discord chat is active , lots of support there if needed.

[fuongy]

$PIVX is back on Changelly! So you can once again buy #PIVX with USD, EURO or against 60+ other cryptocurrencies supported at @Changelly_team.

changelly.com

[Turing]

Join * removed * for up to several stake rewards on a daily basis. PivX stakes an average 1.8 times pr day now.

Don't ever use stakepools, you may lose your coins. It's not worth it.

If your don't hold the private key, you don't own the coins.

[icoping]

Hey guys, I have a question.

Why was this coin so successful and popular?

Is it not just a fork of dash with slightly modified parameters?

Just curious, I want to know why this coin is so successful while many other privacy coins tend to lag behind.

Thanks.

[B1tUnl0ck3r]

Hey guys, I have a question.

Why was this coin so successful and popular?

Is it not just a fork of dash with slightly modified parameters?

Just curious, I want to know why this coin is so successful while many other privacy coins tend to lag behind.

Thanks.

Hi,

Excellent question. For me the most appealing aspect is that PIVX has always been the most honest and fair chain. The release was public and announced here. There was 0 premine or what ever the new term for "devs" to hold a "special" stake, the algo and mining tool were public and already fully optimized (no hidden secret super miner). Furthermore the development is always clear and followed. There is too the support, maybe you can't see it here that much now, but earlier before slack and discord, and you can read it, it was very friendly and helpful. I learned so much you have no idea. Then maybe the fact that it was the first chain to move from pow masternode to pos. There was some bugs to correct, and that is where the honesty and fairness was easy to see. You could have witness the same peace when moving to zPIV... Finally the community involvement, it's beyond what you will see in any coins, and a result of the voting system. All ideas can get financed by the chain itself and lead to great projects, like contributing in https://pivxfans.fancorps.com/headquarters/ and earn pivx or github and devs financing.  To tell you it was so freighting to some that I suspect some exchange were paid to not list pivx (poloniex).

Join * removed * for up to several stake rewards on a daily basis. PivX stakes an average 1.8 times pr day now.

Don't ever use stakepools, you may lose your coins. It's not worth it.

If your don't hold the private key, you don't own the coins.

The same is true for exchanges.... specially with pivx speed, there is no excuse to let coins sleep on exchange wallets... Nothing beat cold generated wallet, fully and always off line, but you lose the staking rewards (or risk premium for securing the chain).

$PIVX is back on Changelly! So you can once again buy #PIVX with USD, EURO or against 60+ other cryptocurrencies supported at @Changelly_team.

changelly.com

nice thanks for the update !

Pivxpress video for March 1

https://m.youtube.com/watch?v=_3GIjcGlCug

PIVX recover the lost confident. The community is very active and always willing to help.
I would like to buy PIVX for long-term investment, so I really want to know more about its development.

Take a look at pivx roadmap, just some of the many things being worked on, if your technical the github is also actively worked on.

New wallet due in q1 so in March.

https://pivx.org/what-is-pivx/roadmap/

In last week alone has had many interviews, presence at events , additional members joining development.

Discord chat is active , lots of support there if needed.

Thank you fuongy for all your update ! I think it is worthy to keep this thread updated regularly, for those away from discord or still not registered.

Join Stakeunited.com for up to several stake rewards on a daily basis. PivX stakes an average 1.8 times pr day now.

Thank you for your project. I hope it will stay and perform for a long time to come. By the way how do you remunerate yourself? what is your fee? It is always fun to see your address stake!

Thanks for the details @Eleanorz

Zpiv as standard would be quite an achievent, ecven if it is not with a larger zpiv pool would make pivx if not already one of the best privacy coins in my opinion.  Would Need to overcome the whole single digit zpiv if only being able to use zpiv in future as wouldn’t want 1 zpiv asthe minimum.

It’s good that pivx has a governance system so any issues can be resolved relatively quickly and with community voting giving everyone a vote.

I’m not on the team either but what you said seems pretty accurate to me.

I’m also pretty excited about the ledger masternode implementation.

I’m an iPhone user so pretty annoyed with Apple not approving the iOS app, although it’s expected that Apple wouldn’t make it easy.

, ready and we can't use it, and worst there is no way that I know to use it as a "devs" and even so it wouldn't be very useful... how to explain to pivx beginer that its iphone must be unlocked and co to just install the wallet... waiting.

And Thank you very much Eleanorz for all your posts and information! I too beat the cryptonode projection, I went even to no tor to gain some ms... all litle hedges always counts .

ZPIV Staking a First for Crypto - Due in Q1 2018

Users will be able to stake zPIV just like normal PIV, but also earn higher rewards and maximize privacy and ease of use. With the proposed new block reward system, zPIV staking block reward will be 50% larger than PIV staking rewards. Although PIVX already has orders of magnitude higher anonymity set sizes than most privacy coins, and maturation time to prevent timing attacks, zPIV staking will further optimize privacy by ensuring zPIV minting and spending occur more frequently.




with snippet youtube video from latest @snappy interview

https://www.youtube.com/watch?v=rwR90uJTcMs


Keep it Purple People!

what if all PIVX staker switch to ZPIV, how will be possible to make a block in pivx?

I'm addressing this in a separate comment because I suspect there's a fair bit of confusion about the issue, and it's important that people understand what's coming. We don't need any more excitement like with the not-very-well announced auto-zeromint 'surprise'.

First, once zPiv staking is implemented, new blocks will be found by MNs, regular Piv stakers, and zPiv stakers. While the outcome will be slightly different depending on who finds the block, the basic idea of 'finding a block' will be the same regardless. In other words, to directly answer the question, the implementation of zPiv simply provides another way in which new blocks can be made.

Now, here are some additional factors to consider re: the implementation of zPiv staking. I am not a Dev or in any way associated with the PIVX team; this is just based on my reading of publicly-available information--if a Dev contradicts this, believe them, not me.

First, the see-saw mechanism will be removed because 1 is the smallest zPiv accumulator value, and the block rewards will therefore have to be multiples of 1. The dynamic nature of the see-saw approach results in constantly varying fractions, which are unfortunately not compatible with zPiv. This will change the incentive structure somewhat, and in fact the new system will be deliberately designed to incentivize the conversion of Piv to zPiv. Which brings up the next point--

Second, block rewards will increase from 5 Piv to 6 Piv, distributed as follows:

• if a Piv staker or masternode finds the block: 3 Piv to MN; 2 Piv to Staker; 1 Piv to budget
• if a zPiv staker finds the block: 2 Piv to MN; 3 Piv to Staker; 1 Piv to budget

As you can see, this means that the total 'public' reward increases from 4.5, as it currently is, to 5. Meanwhile, the allocation to budget increases from 0.5, as it currently is, to 1 (as is currently the case, any unused budget--e.g. if there are not enough proposals to spend it--is burnt each month). You'll also see that the reward for staking zPiv is 50% greater than for staking regular Piv (3 vs. 2).

Third, the potential increase in supply is offset by the strong incentive to convert Piv to zPiv for the purposes of staking. zPiv transactions are more expensive, and fees (plus 'extra' budget) will continue to be burnt. If you run the math, it turns out that the 'tipping point' between inflation and deflation is somewhere between 2.8 and 10 zPiv (not Piv) transactions per second. (Variation is based on what assumptions you make; most likely numbers are toward the lower end of that range. Note also that because unused budget is burnt, voting for or against proposals effectively amounts to a choice between implementing a feature or reducing the supply). Whatever the exact tipping point number is, if zPiv transactions/second exceed that number then PIVX will be deflationary, even with the increased reward structure. Less than that number, and it will remain inflationary.

Overall, these changes are in line with PIVX's goal of implementing full-time anonymity features. Stakers are the primary block validators on a PoS network, while masternodes are 'facilitators' that offer an extra layer of verification, improve transaction time, and allow the blockchain to be downloaded faster. In effect, Stakers are 'must haves' while masternodes are 'nice-to-haves'; meanwhile, if full-time anonymity is considered important, then converting most Piv to zPiv is a borderline 'must have' also. The incentive being given to stake zPiv reinforces these facts and takes PIVX closer to full-time anonymity. Note also that non-masternode-based voting options will eventually be rolled out (https://github.com/PIVX-Project/CDG), so any significant increase in staking shouldn't adversely affect the passing of proposals or other governance activities in the long run.

Meanwhile, the allocation to budget is being increased to reflect the need for strong, ongoing development during this formative--and competitive--period. It will allow PIVX to continue to hire and pay the best Devs (for reference, currently core devs are paid 1000 Piv/mo to work full time) and implement new features faster and more successfully--and, if unused, it will be burnt and further reduce inflation. Long term, especially if/when PIVX's price increases, the budget allocation may be reduced, but even now it's less than the allocation found in many other projects. And the overall increase from 5 to 6 Piv per block is offset by the expected increase in the number of zPiv transactions. Fees will still be burnt, and PIVX will remain barely inflationary, or quite possibly deflationary as the number of transactions increases.

Finally, the system may need to be tweaked once implemented. It's difficult to foresee all ramifications of a change like this. The community is very active in discussing these kinds of things (mostly on Discord), so if anyone has more to add to the discussion there will certainly be opportunities.

Awesome post !!! thank you very much !!!

[EleanorZ]

Hey guys, I have a question.

Why was this coin so successful and popular?

Is it not just a fork of dash with slightly modified parameters?

Just curious, I want to know why this coin is so successful while many other privacy coins tend to lag behind.

Thanks.

Oversimplified answer:

• The parameters are much more than 'slightly' modified from DASH, and they're becoming more unique day by day (PoS, Zerocoin Protocol + staking, much faster tx time, fees burnt so low/negative inflation, and a ton of other things as outlined in the current roadmap: https://pivx.org/what-is-pivx/roadmap/). It's true that at the beginning PIVX was 'just' a DASH fork, but it's been diverging steadily through more than 2 years of active development. It's now among the most secure and innovative privacy coins.
• No historical baggage a la DASH's instamine issue; initial PoW phase was open to everyone and the 60K Piv that were premined to start the first 6 masternodes were publicly burnt.
• Long history of dedicated devs that deliver on planned features.
• Active, approachable community, especially on Discord (Reddit, BCT and the PIVX forum all have decent activity, but not as much as Discord).

[fuongy]

included in current Roadmap due by end of March, coming soon ....   

In Wallet Proposal Tab
Users will be able to easily perform all PIVX governance functions from within the QT wallet’s graphic user interface. There will be no need to access websites or vote from the debug console.



In Wallet Voting Tab
Users will be able to easily vote for all PIVX proposals from within the QT wallet’s graphic user interface. There will be no need to access websites or vote from the debug console.

[LEILO]

I am staking about 500 coins and I only got 2 coins as reward in the last 3 months. What am I doing wrong.

[B1tUnl0ck3r]

Hey guys, I have a question.

Why was this coin so successful and popular?

Is it not just a fork of dash with slightly modified parameters?

Just curious, I want to know why this coin is so successful while many other privacy coins tend to lag behind.

Thanks.

Oversimplified answer:

• The parameters are much more than 'slightly' modified from DASH, and they're becoming more unique day by day (PoS, Zerocoin Protocol + staking, much faster tx time, fees burnt so low/negative inflation, and a ton of other things as outlined in the current roadmap: https://pivx.org/what-is-pivx/roadmap/). It's true that at the beginning PIVX was 'just' a DASH fork, but it's been diverging steadily through more than 2 years of active development. It's now among the most secure and innovative privacy coins.
• No historical baggage a la DASH's instamine issue; initial PoW phase was open to everyone and the 60K Piv that were premined to start the first 6 masternodes were publicly burnt.
• Long history of dedicated devs that deliver on planned features.
• Active, approachable community, especially on Discord (Reddit, BCT and the PIVX forum all have decent activity, but not as much as Discord).

When I see what is happening to those invested in zcl... I can only thank so much the devs and all pivians for honesty and integrity. What ever the price now, the real thing is that those have no price per se, but mean everything at the same time

Now about your inflation comment, remember if you stake or run a masternode, you only have negative inflation, because your stake increase with the rate of coin supply expansion and as you say some pivx are burnt.

included in current Roadmap due by end of March, coming soon ....  

In Wallet Proposal Tab
Users will be able to easily perform all PIVX governance functions from within the QT wallet’s graphic user interface. There will be no need to access websites or vote from the debug console.



In Wallet Voting Tab
Users will be able to easily vote for all PIVX proposals from within the QT wallet’s graphic user interface. There will be no need to access websites or vote from the debug console.

nice thanks for the update !

purple power !