PIVX (Private Instant Verified Transaction) is a privacy-focused decentralized open source cryptocurrency launched in Feb 1 2016 under the name of Darknet (DNET), before it was professionally re-branded to PIVX.
What is PIVX ?
The initial Proof of Work (PoW) distribution phase ended August 2016 when DNET transitioned to the current Proof of Stake (PoS) phase.
PIVX runs on Blackcoin PoS 2.0 protocol and is based on Bitcoin core 0.10.x code base. It utilizes a network of masternodes for an openly visible decentralized governance and increased transaction privacy.
The main goal of PIVX is to achieve near instant private transactions and a governance that helps sustain the network for the benefit of all of the users involved.
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