PIVX Overview:
PIVX (Private Instant Verified Transaction) is a privacy-based cryptocurrency which relies the on Proof-of-Stake algorithm in order to achieve distributed consensus on the blockchain. Saying that PIVX focuses on privacy is a bit of a broad term because a lot of things fall under the term “privacy”. PIVX is more of a community governance decentralised project with the technology itself on how to project proposals are voted and implemented. The creators of PIVX have openly stated that they have started this project because they are attempting to build a usable and digital means of exchange, that is easy to spend in a secure and private manner. The main objective with PIVX is to develop a system that is capable of minimizing transaction times as well as fees, all while maintaining privacy and security.
The PIVX coin is focused on being feasible digital cash and a lot of attention has been paid to the mobile wallets, which will enable users of PIVX to spend their coins in stores as well as send and receive coins from other users. The idea that was initially perceived was to allow users the ability to buy things directly from your phone, like how ApplePay works and this would be in competition to ApplePay. The wallet that is offered by PIVX promises to be flexible, secure and convenient for everyoneand start with, the Android version of the wallet was released in August 2017, with the iOS wallet following close behind being released towards the end of 2017. Eventually PIVX hopes to include features like creating escrow agreements with other users, enabling them to make use of the wallet to pay for goods and services in a safe and efficient manner. The wallet isn’t just a medium for storing your coins, but also as a marketplace and payment processor.
PIVX vs DeepOnion
Whereas PIVX was founded by developers who admired the DASH technology they wanted some changes. However, they still offer a certain level of privacy that is seen amongst other privacy based coins, such as DeepOnion that is a relatively new cryptocurrency that aims at raising the levels of confidentiality, to ensure that its users have a sufficient level of privacy and safety when conducting transactions. DeepOnion absolutely guarantees anonymity for their users, which dramatically reduces the risk of being pirated, hacked or spied on by utilising the power of the Tor network.
Its combination with Tor is what gives DeepOnion its anonymous powers, by filtering data through multiple computer servers, bouncing your IP address from one location to another, it becomes impossible for anyone to track or trace you. To get rather technical, DeepOnion is a sort of hybrid cryptocurrency which uses both Pos and PoW in order to establish a strong consensus driven blockchain network. There are a number of features that DeepOnion uses in order to create an even better cryptocurrency, that includes the incredibly fast confirmation speeds that only amount to a number of seconds for transactions. Speaking of transactions, DeepOnion has a hidden payment feature that renders payments on the platform totally invisible and untraceable.
Conclusion:
It’s hard to find a discernible difference between two coins that both have the same goal in mind, which is to have a high level of privacy for their users when conduction transactions. Both PIVX and DeepOnion have great qualities, but it appears DeepOnion has slightly more and better features that would outperform others.
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