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06 March 2021

How PIVX Is Bootstrapping the Revival of Privacy Coins – Sponsored Bitcoin News

How PIVX Is Bootstrapping the Revival of Privacy Coins – Sponsored Bitcoin News

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Famously referred to as de-anonymization through correlation, blockchain intelligence serves the purpose of tracking transactions and connecting them to their owners.

By making use of smart algorithms that crawl through blockchain transactions, chainalysis companies can easily keep tabs on cryptocurrency addresses of interest.

However, blockchain intelligence succeeds by linking addresses and coins to real-world identities by taking other factors into account.

Often referred to as one of the pioneers of privacy coins and the “first protected DeFi blockchain project”, PIVX makes use of proof-of-stake (PoS) and theZK-based SHIELDprotocol to facilitate quick transactions that protect user data.

Released in response to the appearance of blockchain tracking software that invades user privacy,PIVX quickly became one of the market’s top 10 cryptocurrenciesby market cap.

Albeit keen on protecting data, PIVX also supports transparent transactions, whilst providing supportive users with lucrative incentives.

Simply put, zk-SNARKs allow the processing of encrypted transactions on the blockchain with extreme efficiency – and PIVX has taken this feature from Zcash, and implemented it on top of a PoS (proof-of-stake) consensus protocol.

The introduction of a PoS-enabled zk-SNARK marks a crucial turning point in blockchain’s history – no other project has managed to successfully integrate these features before PIVX.

The SHIELD deployment allows the blockchain to verify transaction authenticity without revealing financial data to the public.

As blockchain intelligence efforts rely solely on analyzing transparent on-chain data, PIVX transactions remain concealed on demand.

The coin’s total supply is not capped, but PIVX uses a restricted dynamic supply model that limits the maximum number of coins minteable per day, month, and year.

PIVX holds the upper hand in this race, as it fits all new-gen criteria for disruptive projects, unlike other privacy coins that fail to uphold adaptability, true anonymity, or lucrative incentives.

As a DAO that makes use of PoS and the innovative SHIELD protocol, a bullish sentiment is actively setting in.

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