Ana Sullivan

PIVX Coin’s Value Now $5.42, What Are the Reasons for This

by Ana Sullivan May 11, 2018

 

 

The value of the PIVX coin is now $5.42 which has marked a slight increase following the massive drop that occurred in February. This article explores some of the dynamics behind the blockchain project.

PIVX Coin Overview

The main goal of PIVX is to become a privacy-based cryptocurrency that implements a proof of stake (PoS) Zerocoin implementation. It uses a deterministic backup seed technology that is an additional feature. Using the built-in SwiftX technology the transactions can be be made with 1 second delay. The developers have focused their plans on the proof of stake by including private staking. It is ASIC immune and allows for "Eco-friendly" staking with systems having a load of less than 5 watts. The dynamic supply is governed by a low coin emission rate. This is counterbalanced by burning all associated transaction fees. The developers have released wallet software for Microsoft Windows, Mac OS X, Linux and Android.

PIVX Coin Issues and Performance

There are several reasons why PIVX may not be the best cryptocurrency project to invest it. We have an analysis of the community concerns and the results showcase several shortcomings. An example is the ongoing problem with the staking, one user reports that around 60% of their stake holdings are turned into orphans. This may be an issue with the service configurations. Another blockchain issue is the fact that many users report that they have problems with the transactions and the ledger operations. According to the community reports this is an issue that affects a sizable part of the PIVX holders.

The sole fact that PIVX focuses on security means that they have to use a technology that offers a distinct advantage over other competitors. The developers have focused on Zerocoin which is a specialist protocol that has been implemented in ZCoin which is a competitor to PIVX. Consequently the same core features are available in another project that may offer other substantial functions in addition to privacy protection.

Our review of the 2018 roadmap reveals that about half of the proposed changes are to the web design and wallet software. This reveals that there is an apparent lack of marketing materials that can help grow the community. Some remarks label that there should be an overhaul of the PIVX community. At the moment holders are split between the official site, the associated forums and several other community-governed places. It appears that many PIVX holders have also fallen to a stakepool scam. Malicious users have promoted such sites via referral links in a a viral fashion that is similar to spam messages. This has caused some users to divert their investments onto alternative currencies.

So far the price increases and large drops seem to be caused by deliberate pump and dump schemes. They are largely done by PIVX coin holders in order to generate short-term income and then transfer the assets to other cryptocurrency Bitcoin alternatives.

 

Comments 0

Type the characters that you see in the box (5 characters).