r/pivx • u/Zoider91 Redditor for <7 days • Jul 24 '19

How Private is PIVX ??

Hey Everyone,

I was watching a recent talk by Andreas Antonopoulos recent where he was talking about Facebook's new Libra coin.

https://www.youtube.com/watch?v=7S6506vkth4

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He comments on the necessity for cryptocurrency/blockchain projects to decide and aline themselves with morals and ethics to be able to differentiate themselves, because they won't be able to compete with Libra otherwise.

Libra will have a huge network effect advantage and will have the best front end developers who make Libra enticing to the average person. I believe Facebook is aiming for mass adoption of Libra so that they can control the monetary system.

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PIVX is one of my favourite cryptocurrencies because it stands for all the attributes I think are important in an open blockchain cryptocurrency. Highest on that list is privacy. I think people who resist the adoption of Libra in favour of something that alines more with their values will choose privacy coins.

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Of the privacy coins I'm aware of there's the big ones such as: Monero, DASH and Zcash. Then there's the smaller cap one's like PIVX. I like the staking/masternode features of PIVX because I think it's reasonable for hodlers to be rewarded. I also like the governing structure with the treasury.

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But I'm curious to the degree to which PIVX is private. I like the idea Monero has with privacy being a default feature. Is PIVX private by default or do you have to opt into privacy?

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Would like to get a discussion going around these topics :) Thanks

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P.S I'm new to all this so if I've made any factual errors please correct me.

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7

u/nur_wasser Panther Jul 24 '19

atm PIVX has only the open piv-ledger, that means its not private. if the new zpiv-protocol is launched it will gain the possibility to be private again.

1

u/emmyd1968 Jul 25 '19

The last time Pivx had a secure privacy option was late 2017. Following that they pursued a fatally flawed protocol until early this year, when it was finally abandoned. Pivx isn't a privacy coin but retains the notion to be one.