PIVX Cryptocurrency Converts 20% of PIV Tokens to zPIV Using Zerocoin Protocol For Anonymity
The PIVX Platform Has A 20%-Coin Supply That Has Been Converted To The Anonymous zPIV
The team behind the PIVX today reported that it has been able to cross a milestone having over 10 million PIV that has been converted to zPIV. With this, it accounts for about 20 percent of the platform coin supply. Thus, this is the most extensive set of anonymous set of any type of coin that has been able to use the Zerocoin Protocol.
The feature has been designed to have the ability to keep proper balances that are entirely private; this is achieved by converting the PIV to zPIV. Thanks to the Furszy, which is known as a great developer in light and mobile wallet, they will be able to make it all possible to mint and spend the zPIV through your mobile.
The team has gone ahead to emphasize that for some time investors within the crypto market have frowned upon the non-mandatory privacy. The investors within this space claim that there are not enough people who will actually make use of the private transaction features, or even try to keep their balance private when they are not spending. They continue to state that more than 10 million zPIV supply of the PIVX is the proof of this.
The Incentivizing Of The Privacy
The zPoS, which is also referred to as Zerocoin Proof of Stake, was the very first crypto that was developed by the team behind the PIVX platform. It was initially designed as a private staking mechanism that will allow the various users to stake their current zPIV, and from here they were in a position to privately earn three zPIV as a reward after winning a block. This was instead of the two PIV block reward when users would stake the PIV with the use of PoS.
It was further explained by the PIVX that the Zerocoin protocol is able to work when there is a higher supply of zPIV, then you should expect to see better privacy.
The calculations are done by a division of the accumulators of one zPIV, five zPIV, ten zPIV, and so on. In the event a user is able to spend about one zPIV denomination set, then the PIVX will have a much broader set size when you total, than all of the accumulators that you would combine in Zcoin.
All this is achieved with the innovation of zPoS plus the consistent improvement that is done to the original Zerocoin protocol. currently, the total number of zPIV is expected to grow, as significant improvements are still being made on the zPoS and the zPIV. The precomputed proofs have become the most requested improvement that needs to be made on the network.
Having this service improved for the users you should expect to see a significant improvement in the spend time on the zPIV, and this is not all, it will also improve the efficiency of the zPoS. The Bulletproofs is the next concept that will follow; this will help in significantly decreasing the proof size and be able to create a much trustless setup.