PIVX (PIVX) is a decentralized, MIT licensed open-source blockchain/cryptocurrency project. It was launched on January 30th, 2016, and is managed by a community-driven decentralized autonomous organization (DAO). PIVX focuses on providing user financial data protection through advanced cryptography protocols.

Based on Bitcoin's codebase, PIVX has undergone significant custom developments and integrations. It utilizes a Proof of Stake (PoS) consensus protocol with its native cryptocurrency, PIV. PIVX has pioneered the Proof of Stake consensus algorithm and incorporates features like Time Protocol v2 and Cold Staking for enhanced security.

PIVX ensures financial data protection through the implementation of the zero-knowledge succinct non-interactive argument of knowledge (zk-SNARKs) Sapling protocol, known as SHIELD. It is also compliant with Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) requirements.

In addition to its core features, PIVX integrates a Masternode network for decentralized governance and is constantly developing new features such as Deterministic Masternode Lists and Long Living Masternode Quorums (LLMQs). PIVX has a dynamic coin supply and uses PIV as a means of exchange and network participation.

PIVX aims to provide a sustainable infrastructure for instant, private transactions without the devaluation experienced in other cryptocurrency projects.

PIVX stands out as a decentralized autonomous organization (DAO) that is self-funded and community-driven. It has the ability to self-fund development and network activities through monthly treasury payouts based on community proposals.

PIVX burns 100% of all transaction fees and offers Proof of Stake Privacy/User Data Protection with only 1 PIV required for staking. It utilizes a Tier Two layer with masternodes for network governance, requiring 10,000 PIV to run a masternode.

PIVX has achieved several firsts in the cryptocurrency space, including being the first Proof of Stake project with masternodes, blockchain-based governance, and community self-sustainable funding. It was also the first to implement the Zerocoin protocol, private staking, and zk-SNARKs Sapling privacy protocol on a Proof of Stake blockchain.

PIVX was announced on bitcointalk.org on November 25th, 2015, and its network was created on January 30th, 2016. While initially idealized by three individuals, the project's development and direction have been community-driven. The current core blockchain developers, Fuzzbawls, Furzy, and Random.Zebra, have spearheaded the project since 2018, with other community members overseeing different aspects of the ecosystem.

PIVX creates a new block every 60 seconds, generating 5 new PIV per block. Additionally, 1 PIV is allocated to the Treasury per block. The Treasury funds community proposals through monthly Super Blocks, which occur every 30 days. The available funds for each Super Block depend on the number of blocks since the last Super Block and the PIV allocated per block.

While the exact inflation rate varies based on the number of passing proposals, it is estimated that around 6 PIV per block are created, resulting in a high percentage of the allocated PIV being used to fund proposals.

• 2 PIV per block is created and paid to the staker that wrote the block.
• 3 PIV per block is created and paid to the next masternode in the payment queue.
• 1 PIV per block is allocated to the Treasury Budget and may be created with the Super Block and paid to a funded proposal.

The theoretical maximum coin supply for PIVX is as follows:

By June 2040: 125,929,497 PIV

By June 2060: 189,001,497 PIV

However, the actual coin supply will be determined by factors such as transaction fee burning and the allocated PIV not required for the monthly budget generation.