As we continue working towards the launch of MarketSquare beta, we want to share with you some of the great projects and services that are joining us. If you haven’t signed up for MarketSquare Beta , there is still time. We also recently released an article detailing Hubs on MarketSquare. Today, let’s welcome PIVX to MarketSquare!
What is PIVX?
Protected Instant Verified Transaction (PIVX), launched January 30th, 2016, is a decentralized, open-source, fair-launch blockchain/cryptocurrency project managed, developed, governed, and stewarded by a community-driven decentralized autonomous organization (DAO).
Learn more about PIVX by visiting their website: https://pivx.org .
PIVX is a third-generation cryptocurrency pioneering Proof of Stake financial data protection. This is accomplished via a customized integration of zk-SNARKs into its Proof of Stake consensus algorithm.
PIVX integrates other features including a 2nd layer of functionality through a Masternode network that provides a decentralized governance mechanism of voting; and is currently developing new features for this layer such as the Deterministic Masternode Lists, Long Living Masternode Quorums (LLMQs) and more.
Masternodes are responsible for voting on development proposals that are put forward by the PIVX community. 10,000 PIVX is the minimum requirement to run a masternode. Each masternode gets 1 vote and is not involved in the mining of new tokens.
Stakers are responsible for securing the PIVX network. They have a chance of generating a block proportional to the number of PIVX they have staked. An individual can stake with just a single PIV, and participate in the earning of the block reward.
Blocks are generated every 60 seconds. When a block is generated, it brings a reward of 5 PIV, two of which go to the stake node winner and three to the next masternode in the queue, while 1 PIV is allocated (not created though) to the PIVX treasury. This results in up to 43,200 PIV available to be created and dispersed each month, upon the successful passing of proposals that request funding. If proposals are not submitted or do not pass, those PIV are never created.
The monetary policy of PIVX is designed to enable a sustainable infrastructure service capable of supporting scalable, decentralized, and resilient node infrastructure, allowing for instant, protected transactions globally, without astronomical Quantitative Easing (QE) and the corresponding resulting devaluation of the native token, as experienced in many other cryptocurrency endeavors.
MarketSquare and PIVX
At MarketSquare, we are currently partnering with strong projects with established communities in the blockchain space. One of the things we are doing through MarketSquare is that we are creating educational content in the form of short videos that explain projects, concepts, and the like in a very distilled and easy-to-understand way. We think this is crucial for our industry. We aim to make MarketSquare into a one-stop platform where people can come to explore their favorite projects, get involved, learn.
On MarketSquare, PIVX will have their own project page where they can highlight information about their project, their products, and more! In addition, our team is currently working on creating an introductory video to the PIVX ecosystem. In addition, you will see close collaboration from both teams as we explore areas such as functionality within the ARK Desktop wallet and platform SDK.
Stay tuned to our blog and updates for all major announcements concerning MarketSquare!