Question 1

What is it?

Accepted Answer

**The Token**
PIVX is a digital currency that operates on a decentralized blockchain. It uses a combination of proof-of-stake (PoS) and a custom version of the Zerocoin protocol, which allows users to make private transactions. The PIVX token, denoted as PIV, serves as the medium of exchange within the network and is used for transaction fees and rewards.

**The Project**
PIVX is not just a cryptocurrency but also a project that aims to establish a decentralized autonomous organization (DAO). The goal of the PIVX project is to create a self-sustaining economic model that empowers its community by enabling them to participate in the decision-making process. The PIVX community can propose and vote on changes to the network, which could include decisions on budget allocation, development, or marketing strategies.

Question 2

What is it used for?

Accepted Answer

The PIVX token (PIV) is primarily used as a medium of exchange and store of value. It is also used for transaction fees and staking rewards. Staking PIV tokens allows users to participate in the network's governance and earn rewards for helping to secure the network. Additionally, PIV can be held or traded like any other cryptocurrency on various exchanges.

Question 3

Who's behind Private Instant Verified Transaction (PIVX)?

Accepted Answer

PIVX was originally created by two developers who went by the pseudonyms of CoinServer and s3v3nh4cks. It was launched in January 2016 as a fork of DASH, another popular cryptocurrency. The project has since evolved and is now maintained by a decentralized team of developers and contributors from around the world. It is worth noting that the PIVX community plays a significant role in the development and direction of the project, thanks to its decentralized governance model.