Published On: Sat, May 27th, 2017

PIVX Seeks To Improve Privacy With Zerocoin Protocol Integration

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The Anonymous Cryptocurrency, Private Instant Verified Transaction (PIVX) is set to execute Zerocoin Protocol to enhance its prevailing system of permitting private transactions. This, in fact, will enable users to mint and spend coins with no transaction history with the utilization of Zero-Knowledge Proofs (ZKP).
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At the prevailing state, their privacy implementation comprises wallet coin mixing which employs CoinJoin with different enhancements over the original, in a decentralized mode aided by the chain of masternodes.
Even though it affords a supplementary panel of mystery in transactions, it does not offer absolute anonymity. It is actually considerably better than the conventional Bitcoin transaction. This is the more reason why the Dash code-fork is bent on ensuring an improvement. The announcement was made on the PIVX blog stating that:
Private Instant Verified Transaction (PIVX) will implement Zerocoin Protocol to improve its current method of enabling private transactions. The underlying technology utilizes Zero-Knowledge Proofs (ZKP) that allow users to mint and spend coins with no transaction history.
What Zerocoin Protocol provides is the capability of Zero-Knowledge records to guarantee absolute financial privacy. Zero-Knowledge proof is a cryptographic process that one person (the sender) can prove to another …

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