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

[satrum]

"PIVX Introducing: zStaking"  added for voting, proof and forecast on YEENOT TODAY https://yeenot.today/catalog/news/225
does it help to increase decentralization of PIVX ?

about zstacking:
Staking with zPIV has three key benefits for all users who choose to utilize zPoS:

A higher block reward compared to staking PIV.
2. Allows you and your coins to remain private while staking.
3. Helps with constant generation of new mints in the zPIV pool (accumulator) greatly increasing its liquidity for future zPIV spends, as well as obscurity.

The Problem
Imagine if everyone could see how much money you have in your savings account? This is the reality when staking a cryptocurrency.Right now, a stakers coin balance is visible to the public while staking. This means that people can crawl through the block explorer and see which addresses are staking coins, the balance, and even locate source addresses.

The Solution
With zPoS, this will no longer be the case. It’s essentially “Stealth Staking” for our users. While staking zPIV, no one will be able to see how many coins you (an address) are staking.

zPoS provides an extra layer of privacy where you can earn rewards, and secure the network, privately. These rewards can then be held to continue staking or spent privately without anyone knowing which address it was sent by. This is an amazing (and necessary) level of privacy users can soon have and it’s a feature that NO other PoS coins have right now.

[1713850176]

1713850176

[1713850176]

1713850176

[1713850176]

1713850176

[1713850176]

1713850176

[tuanytcc]

snip

Furthermore, zStaking also has ability to increase potential staking rewards for stakers, which in turn might catch more attention of potential PIVX investors to buy more PIVX and let their coins stake.
It might also help to build up sustainability and healthy condition of the PIVX network in general.
Masternodes operations are important, but not the only one should be taken into consideration. Stakers are another important component in the network, hence it will be good to see more stakers in the PIVX network.

[EleanorZ]

JOIN DISCORD

[...]
For a coin like PIVX I don't think it would be too much to ask to have all the important details also broadcasted here - especially since the coin itself started here.

For example, knowing the block reward changes in advance would have been nice...
[...]

Agreed that more official posts would be nice, but the community does keep this thread up to date. @fuongy does most of the work (not actually sure if (s)he's official or not, tbh), and I chip in from time to time as well, plus others. The block reward change was discussed on March 3rd, right after details emerged. Remember that the transition to zPiv staking took about a month longer than expected, and the details were discussed before the initial roll-out date.

Also, the PIVX subreddit is fairly active, and is another easy source of info for those who prefer to avoid Discord.

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.

**In retrospect, I should clarify one thing above: excess budget is in fact not burnt each month; it is never created in the first place. The outcome is the same as far as the supply is concerned, though.

[fuongy]

@EleanorZ I’m not an official PIVX but do try and post here to help with communicating with those who don’t use discord or twitter or reddit.  I do think Discord is the best place to go for updates info and support issues and questions.

I believe there was plenty of clear posts in here regarding the update as being mandatory so should be no excuse to not be done, if any user still didn’t get the message someone should be able to help in discord on getting an up to date blockchain or resybcing again.

Also if not aware Ledger hardware wallet is having issues with PIVX but they are working on it , the desktop wallet and blockchain is working fine, just an issue with ledger.

[bathrobehero]

@EleanorZ I’m not an official PIVX but do try and post here to help with communicating with those who don’t use discord or twitter or reddit.  I do think Discord is the best place to go for updates info and support issues and questions.

I believe there was plenty of clear posts in here regarding the update as being mandatory so should be no excuse to not be done, if any user still didn’t get the message someone should be able to help in discord on getting an up to date blockchain or resybcing again.

Also if not aware Ledger hardware wallet is having issues with PIVX but they are working on it , the desktop wallet and blockchain is working fine, just an issue with ledger.

Yes and we thank you.

But I do believe discord is a poor choice as it's a hugbox/echochamber; the only people going there are the ones looking to talk about PIVX. No strangers just popping in and you can't really be very critical and argue about anything that's unpopular as you'll go against the tide and lose. I believe the main channel of communication should be a neutral source, like this forum. It's also a PITA to search for stuff on discord (very high noise to signal ratio) and the search function is pretty bad as well imo. But I also understand the majority of people doesn't share the same opinion as me.

Maybe meeting halfway would be good; as in having a bot that posts all the semi-important announcements to all channels.


On another note, staking zPIV results in about ~50-60% orphan rate so currently staking regular PIV is a better option profit-wise but collectively staking zPIV probably provides more information helping to find the cause.

What I do know for sure after testing that it's not a computational power bottleneck and I believe it's also not a network bottleneck.

[cosimadaisy]

This threat is so long to find information
Is there any channel to check it

[Assman]

This threat is so long to find information
Is there any channel to check it

People will be happy to answer any questions you have immediately in the Discord:

https://discord.gg/tkJtEr

[NightDream]

PIVX Presents: PIVXpress May 10, 2018

PIVXpress - Hosted by Bryan (Snappy) of PIVX this week discussing
- ZPoS is active (first Privacy proof of stake)
- Secure Pivx Masternode Tool (SPMT)
-Meetups and Conferences
- PIVX Ambassadors
- Wallet Release Updates

https://www.youtube.com/watch?v=B50OUNeXpEM

[Fuzzbawls]

This threat is so long to find information
Is there any channel to check it

huh? what threat?

[fuongy]

This threat is so long to find information
Is there any channel to check it

huh? what threat?

I think she/he meant thread.

[Erebos]

Why so many orphan blocks in zpiv staking?

[SnappySnap]

LOTS of new articles talking about PIVX and zPoS

https://cryptorecorder.com/2018/05/12/pivx-pivx-good-news-in-the-pipeline/

https://bitsonline.com/pivx-launches-zpos-fully-anonymous-proof-of-stake-tech/

https://btcmanager.com/pivx-launches-worlds-first-private-staking-system-zpos/

https://www.newsbtc.com/2018/05/08/pivx-becomes-worlds-first-anonymous-proof-stake-cryptocurrency/

https://www.finder.com.au/anonymous-cryptocurrency-pivx-makes-world-first-tech-breakthrough

[lipatti]

Hello,

Somebody with experience can explain Why pivx did not raise ? trade 0.00055000 to 0.00065000 sat. 300 million cap. Monero is 10 more (choose this one because it's private coin and seems similar). When new  trading places (japanese one  for exemple) ? Strong coin like pivx diserve that .

[lipatti]

Hello,
https://cryptorecorder.com/2018/05/12/pivx-pivx-good-news-in-the-pipeline/

[fuongy]

Another reminder, don’t forget to backup your zpiv seed. I’m not sure if the importance if this has been made clear.  Details below.

https://www.reddit.com/r/pivx/comments/8gbjf7/how_to_use_deterministic_zerocoin_generation/

[fuongy]

There is a known issue with the ledger app sending pivx, a work around was created by one of the devs @random.zebra and can be found here. The other option is to rebroadcast the transaction which I can post here also, otherwise I’d assume ledger will resolve the issue.  From what I can see receiving on ledger works fine.

https://github.com/PIVX-Project/PET4L

if you have to manually broadcast the TX here are the steps:

1) Open Ledger Wallet App. Settings --> Tools --> "Stored Logs" Export (under "Diagnostic")

2) Save the file as a .zip file

3) Extract the two files contained in the zip

4) Open the file marked as 'private'

5) Search for a line starting with `Transaction,Raw TX:` and copy the hexstring that comes after that

6) Inside the core pivx wallet console do `decoderawtransaction "hexstring"` replacing "hextring" with the one you copied earlier. Verify that everything checks out.

7) Do `sendrawtransaction "hexstring"` to broadcast that tx to the network.



Just another example how great the pivx team is being able to help out pivians while ledger is having issues.

[Flypme]

PIVX is available again Flyp.me
Access the fastest and most private way to exchange PIVX straight from your wallet.

[B1tUnl0ck3r]

@EleanorZ I’m not an official PIVX but do try and post here to help with communicating with those who don’t use discord or twitter or reddit.  I do think Discord is the best place to go for updates info and support issues and questions.

I believe there was plenty of clear posts in here regarding the update as being mandatory so should be no excuse to not be done, if any user still didn’t get the message someone should be able to help in discord on getting an up to date blockchain or resybcing again.

Also if not aware Ledger hardware wallet is having issues with PIVX but they are working on it , the desktop wallet and blockchain is working fine, just an issue with ledger.

Yes and we thank you.

But I do believe discord is a poor choice as it's a hugbox/echochamber; the only people going there are the ones looking to talk about PIVX. No strangers just popping in and you can't really be very critical and argue about anything that's unpopular as you'll go against the tide and lose. I believe the main channel of communication should be a neutral source, like this forum. It's also a PITA to search for stuff on discord (very high noise to signal ratio) and the search function is pretty bad as well imo. But I also understand the majority of people doesn't share the same opinion as me.

Maybe meeting halfway would be good; as in having a bot that posts all the semi-important announcements to all channels.


On another note, staking zPIV results in about ~50-60% orphan rate so currently staking regular PIV is a better option profit-wise but collectively staking zPIV probably provides more information helping to find the cause.

What I do know for sure after testing that it's not a computational power bottleneck and I believe it's also not a network bottleneck.

What I like about discord is that it is live, so it is really the ideal place to look for help and support and hang out in the stream. I find the discord of pivx to be really open and working well specially with different ideas. However I agree with you that it is unpractical to search for something specific without having to ask and that the same forum format as here should be used at the pivx official forum, as the javascript only adds nothing but unpractical look.

pivx should have it's own working forum, and for me the actual one with javascript is frankly speaking useless.

Another reminder, don’t forget to backup your zpiv seed. I’m not sure if the importance if this has been made clear.  Details below.

https://www.reddit.com/r/pivx/comments/8gbjf7/how_to_use_deterministic_zerocoin_generation/

the more backups the better !

JOIN DISCORD

[...]
For a coin like PIVX I don't think it would be too much to ask to have all the important details also broadcasted here - especially since the coin itself started here.

For example, knowing the block reward changes in advance would have been nice...
[...]

Agreed that more official posts would be nice, but the community does keep this thread up to date. @fuongy does most of the work (not actually sure if (s)he's official or not, tbh), and I chip in from time to time as well, plus others. The block reward change was discussed on March 3rd, right after details emerged. Remember that the transition to zPiv staking took about a month longer than expected, and the details were discussed before the initial roll-out date.

Also, the PIVX subreddit is fairly active, and is another easy source of info for those who prefer to avoid Discord.

And a big thank you to you EleanorZ for the great pots you do here. They are always very informative and complete and easy to read. And in a sense it is a manifestation of the decentralized nature of information, however with all the budgets that goes in, I am not sure the pivx are that well spend.

secondly, I get triggered by the word "community". All that I have seen using it had always hurtful goals in the long term. I see it more as domestication to then jail, to deprive, to steal and enclose.

the problem of here is that it is a single tread and the problem of discord is that it is live, the problem of reddit is that it is censurable and the problem of the official forum is that it requires javascript. why couldn't the official forum use the same software as this one? simple, clean, easy, and remove the captcha and it would be perfect .

[lhtot8]

PIVX is available again Flyp.me
Access the fastest and most private way to exchange PIVX straight from your wallet.
~

What did you really imply by mentioning about 'exchange PIVX straight from your wallet'?
Is it something like built-in wallet trading feature, like Denarius wallet?
I have never use PIVX wallet before, so I will highly appreciate your more detailed information about this issue.

[Vitamin_52]

New PIVX DYK: Deterministic zPIV Seed!

"The Deterministic zPIV Seed makes your life easier, and ensures that your zPIV are safe!"

More Info -> https://goo.gl/b6Uyat

Watch here -> https://youtu.be/TQumjaq6LLU