Stellar XLM to PIVX PIVX Exchange

Crypto Pair Details: XLM to PIVX

Stellar XLM

The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. Stellar.org, the organization that supports Stellar, is centralized like XRP and meant to handle cross platform transactions and micro transactions like XRP. However, unlike Ripple, Stellar.org is non-profit and their platform itself is open source and decentralized. Stellar was founded by Jed McCaleb in 2014. Jed McCaleb is also the founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim. Stellar is also a payment technology that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. In fact, both payment networks used the same protocol initially. Distributed Exchange Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency. For instance, if Joe wanted to send USD to Mary using her EUR, an offer is submitted to the distributed exchange selling USD for EUR. This submitted offer forms is known as an order book. The network will use the order book to find the best exchange rate for the transaction in-order to minimize the fee paid by a user. This multi-currency transaction is possible because of 'Anchors'. Anchors are trusted entities that hold people’s deposits and can issue credit. In essence, Anchors serves as the bridge between different currencies and the Stellar network. Lumens (XLM) Lumens are the native asset (digital currency) that exist on the Stellar network that helps to facilitate multi-currency transactions and prevent spams. For multi-currency transactions, XLM is the digital intermediary that allows for such a transaction to occur at a low cost. In-order to prevent DoS attacks (aka spams) that would inevitably occur on the Stellar network, a small fee of 0.00001 XLM is associated with every transaction that occurs on the network. This fee is small enough so it does not significantly affect the cost of transaction, but large enough so it dissuades bad actors from spamming the network. The collected fee is then redistributed and added to an inflation pool. This inflation pool releases Lumens at a rate of 1% each year.

PIVX PIVX

PIVX stands for Private Instant Verified Transaction. PIVX is an MIT licensed anonymity-based cryptocurrency created out of a fork of DASH. PIVX is an open source blockchain-based Proof of Stake cryptocurrency with Zerocoin protocol implementation for industry leading transaction privacy. PIVX project is focused on advancing its privacy technology to ensure fungibility, improve network scalability and increase real-world utilization to become an effective decentralized online digital currency for everyone. PIVX inherited all the technical features of DASH such as masternodes, instant send and private transfer. It has a block time of 60 seconds and has a fixed reward size per block that uses a custom Seesaw Algorithm that dynamically alters the reward split between masternode and staking nodes. PIVX also utilizes a decentralized network of masternodes that allow feature services, treasury management, and community governance. The project is focused on advancing its privacy technology to ensure fungibility, improving network scalability, and increasing real-world utilization to become a globally-accepted decentralized online digital currency. PIVX is the first cryptocurrency to implement a directly spendable Zerocoin protocol and has also developed and implemented an industry-first Zerocoin-capable Proof of Stake consensus algorithm, called zPoS, that allows complete privacy of the balance and transactions while staking. PIVX “wallet” software closely resembles running your own bank, while basecoin (PIV) for transparent transactions and Zerocoin (zPIV) for completely anonymous, untraceable transactions. PIVX is an advanced privacy-enabled proof-of-stake cryptocurrency using the Zerocoin Protocol, an advanced zero-knowledge-proof privacy protocol for utmost transaction anonymity, and zPoS, a world’s first privacy-enabled Proof of Stake technology all developed by a team of highly experienced developers and cryptographers. Here at PIVX, we wanted to do something innovative, so we brought this cutting-edge technology to life. PIVX is available to be purchased directly with some popular fiat currencies. Here are some exchanges that provide the option to buy PIVX with currencies (USD, EUR etc.) UpBit, Coinroom, LiteBit. The PIVX network allows for 2.6 million PIVX tokens to be minted per year forever, with 90% of the minted coins going to staking wallets and Masternodes (staking is covered in the next section), and 10% going to fund budget proposals voted on by the Masternodes and stakers. This lack of a maximum coin supply makes PIVX function similar to a traditional currency, as inflation is introduced to the system to encourage daily usage and avoid hoarding. The inflation is around 4% per year, but instead of simply devaluing your currency like the Fed does when it prints Dollars, all those minted coins are going directly to holders of PIVX, offsetting the effect of inflation by spreading the profits. PIVX is a promising privacy coin aiming to be an easy-to-use digital cash replacement. There have been a few hiccups surrounding the implementation of the privacy technology, but the community and development team are active, engaged, and optimistic. It’s performing well on the market, with high volume and support from major exchanges (most notably Bittrex) and looks like it’ll be around for a while.'

SOURCE: COINGECKO

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