Cryptocurrencies have been surfacing in the online world in rapid numbers. Today, there are over 700 different types of online cryptocurrencies that you can take part in mining, buying or trading for.
Each of these currencies brings something different, and often unique, to the table. The two most profitable and famous currencies that most people know about are Bitcoins and Ethereum coins.
So why are there so many different cryptocurrencies out there? Well, unfortunately you can’t get everything you want in one package.
Some blockchains are more secure than others, some are more used in certain situations then others, and some are just there because someone thought it was a good idea to make them, like Dogecoin (thank you internet).
Each cryptocurrency comes with its own purpose and method. The same can be said about PIVX.
What Is PIVX?
In January, 2016, thanks to two co-founders, PIVX was born (formerly known as Darknet). The two co-founders are known throughout the PIVX community by their online handles “s3v3n h4cks” and “Coin Server.”
The idea behind PIVX was to create a decentralized, open source, privacy focused cryptocurrency with instant transaction timeframe which was achieved thanks to the hard working DEVs responsible for this currency. The transaction times, although not truly instant, are pretty much the fastest we have seen amongst all other cryptocurrencies.
While PIVX is already one of the most secure currencies in the crypto work, there is currently major work being done to implement ZEROCOIN protocol into the coin, meaning that true financial privacy is right around the corner for this coin.
This is a huge deal for PIVX since currently their price is somewhat low when compared to other currencies. With the implementation of ZEROCOIN, it will certainly go up in price.
As of today, May 25, 2017, PIVX is still considered to be a relatively new cryptocurrency. However, it is slowly and surely making progress towards being amongst the top 10 currencies on the market.
The developer team is extremely informative and is always giving plenty of updates to the community members about the direction in which they are heading. Because of their huge focus on the PIVX community, many implementations and ideas are often voted for amongst the members.
This can be appealing to some future investors though looked at with some skepticism by others. Although honestly we see no reason to be cautious of the way decisions are made in the PIVX community. From what we have gathered, it is full of highly intelligent people who know what they are doing and have exceptional skills in the crypto world.
So, is PIVX the cryptocurrency for you if you are interested in using it to buy an expensive wedding ring or some crazy new invention on overstock.com? No, at the moment, it is not. But is it a cryptocurrency that will make a huge impact on the crypto world in the near future?
We aren’t fortune tellers but judging from their capable team and the community involved, we think the answer is yes.