We are going to talk about two cryptocurrencies, which are very alike- Dash and PIVX. The latter is forked out from the former and is said to focus primarily on anonymity and privacy. Dash is one of the most popular cryptos administering the implementation of the Proof of Stake (PoS) protocol. PIVX was formed in early 2016, which is a conglomeration of some features of DASH and some features of its blockchain architecture.
Dash was created in order to implement the Proof of Stake (PoS) methodology. As it was built on Bitcoin’s software, DASH is not much different from Bitcoin. Dash is actually affordable, faster, and decentralized enough to transfer funds easily. Dash is a peer to peer crypto which works like a fiat.
PIVX (Private Instant Verified Transaction) is a privacy-centric cryptocurrency that enables its users to lock coins and earn rewards. PIVX protocol uses zk-SNARKS, also known as Zero-Knowledge Proofs, which is used in Dash as well. It enables the miners to validate the transactions without having a knowledge of the parties involved in the transaction.
PIVX supports an advanced and enhanced version of Proof of Stake (PoS), as it depends on master-nodes instead of miners to verify the transactions. This is an efficient way of utilizing the PoS protocol. Hence PIVX is considered 100% PoS compliant, while DASH is only 50%, as it still relies on the miners. PIVX adopted modern technologies and mechanisms.
PIVX uses an advanced mechanism to distribute block rewards, wherein 90% of the rewards are distributed to the stake nodes and masternodes, and 10% of the rewards are distributed to the community projects. The Dash Masternode cost is comparatively much higher than PIVX.
As PIVX was created later and is pretty new to the crypto space, its availability in trading platforms are lesser than Dash. The circulating supply of DASH is around $9 million DASH, and that of PIVX is around $56 million.
We have tried to discuss the major differences between PIVX and DASH. PIVX is pretty new to the crypto space.
Both of them are unique in their purposes and working mechanism, with a few differences. But if you intend on investing, do thorough research.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!