PIVX, Ubiq, and Zclassic have all forked away from projects that have a strong following to add their own flavor to popular cryptocurrencies. While their counterparts, DASH, Ethereum, and Zcash respectively, have interesting and attractive properties, entirely new communities are being built on modified versions of these cryptoassets. They are all hoping to pursue a path of learning-by-doing, introducing different innovations and more inclusive governance. For coins such as PIVX, Ubiq and Zclassic, 2017 looks to be a formative and interesting year.
PIVX is one of these assets leading the charge in 2017. After forking from DASH, there have been over 300 commits, representing a significant amount of code put into the project. It moves away from proof of work to proof of stake, best exemplified by the Nxt blockchain, allowing anyone to stake their balance to secure the network and earn rewards. A standout feature of PIVX is the ease of use and simplicity for people who may not be familiar with cryptocurrency. Just by holding and staking their balance, they are contributing as a miner would with DASH, with the benefit being there is no sunk cost in the form of a machine for mining.
More developments are due for the altcoin which will cement its position as a cryptoasset to watch in 2017. For example, PIVX will benefit from upgrading to Bitcoin Core 0.12.1, allowing new features to be merged into PIVX. Furthermore, to secure users’ coins, U2F integration is also planned, which will make wallets relatively safe from hackers.
Another interesting aspect of PIVX concerns masternodes, which is drawing in users and contributing to increased interest in the altcoin, with more than 2,000 active globally. Looking below, we see a list of many of the masternode coins. 10,000 PIVX are required to setup a masternode, which helps to secure and stabilize the network, and is significantly cheaper than running a masternode for more popular coins such as...