When it comes to privacy coins, high-value cryptocurrencies like Monero (XMR) and Verge (XVG) often get a lot of the attention on social media. In the meantime, there has been a pretty solid privacy-based cryptocurrency called PIVX (PIVX) – and it is barely grazing the top 50 right now.
This crypto project was actually the first to ever guarantee hidden balances and hidden transactions while still using proof of stake – it’s called their Zerocoin protocol, zPIV, and it launched back in October.
But that protocol wasn’t perfect, as it excluded private users from being able to stake their coins, so PIVX has been working on a change.
The PIVX privacy protocol is about to get much more inclusive
A new protocol called the zPoS, which is the next evolution of zPIV, is currently in the works. Here’s the difference:
Before, if a user chose to remain private, meaning that their balances and transaction amounts were hidden from any third parties, they wouldn’t be able to stake their coins – which simply means that their coins are used to verify other transactions on the network.
The PIVX team didn’t like that, however, so they started working on a way to fix it: zPoS. Here’s how they describe it:
“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.”
But the new PIVX zPoS launch is delayed
Unfortunately for any of you who have been eager to try this out, they are delayed. It was supposed to be launched on Saturday, but now it will be pushed back at least a week:
As most have been wondering, the zPoS activation will occur approx. 7 days after the v3.1.0 wallet release.
We are actively working through the QA process and will provide an update when available.
We are close.
-The PIVX Devs. pic.twitter.com/4Lp7wkVD6v
— PIVX (@_pivx) April 4, 2018
Once the wallet update is good to go, then it’s just a week of waiting.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.