$PIVX turned ten this year, and here are five things worth knowing about how it got here 🔮
1️⃣ Nobody got a head start
@_PIVX launched on January 30, 2016 with no ICO, no presale and no developer premine. Anyone who wanted coins had to mine them from the first block like everybody else. In 2016, when premines were close to standard practice, that was unusual enough to be the entire pitch.
2️⃣ It went Proof of Stake before almost anyone
Seven months after launch, in August 2016, PIVX dropped mining entirely and moved to Proof of Stake on a consensus engine the project wrote itself. Ethereum wouldn't make the same move for another six years.
3️⃣ It made private coins stakeable
Shielded transactions hide what you hold. Staking requires proving you hold something. Getting both to work at once is an awkward problem, and SHIELD, the project's zk-SNARK protocol, was built to solve exactly that.
4️⃣ Every fee ever paid has been destroyed
PIVX burns transaction fees instead of paying them out. Every transfer made on the network since 2016 has quietly removed coins from existence.
5️⃣ The treasury is voted on, not decided
PIVX runs as a DAO where masternode operators vote on how the monthly budget gets spent. No foundation, no company, nobody signing off from above.