PIVX LITE STORY

PIVX LITE IS BORN

Pivx Lite (formerly known as Quark 2.0) is a fork from the original Pivx coin that was forked from Dash, with the idea of creating a currency that built upon Bitcoin but that had faster confirmation time and was exponentially more secure due to start of the art security that was implemented at that time.  To that end the original Pivx developers implemented zerocoin privacy protocol call Zpiv by the Pivx team.  Zerocoin was also used by multiple cryptocurrencies  such as Zcoin, SmartCash, and Zoin, to name a few.  Zpiv functionality is deactivated in Pivx Lite (as it is in Pivx) due to serious security flaws that have been noted on the internet.

The coin is called Pivx Lite because there are only 9,200,000 coins in circulation and a masternode requires 100,000 coins, thereby significantly reducing the number of masternodes on the network and proportionately increasing the profit for each masternode.  Block reward is 4 coins, 70% to the masternode winners and 30% to POS stakers.

Pivx Lite will be also implementing start of the art security in near future.

Pivx Lite Dev Team

Server Room - Place of Birth
Server Room - Place of Birth

MADE FOR HUMANS

Pivx Lite is fast, simple and cheap to transact with. Every freshly minted Pivx Lite coin is made to serve you and remove friction from your transactions and at the same time provide you with a high level of security and anonymity.

Blazing fast

Pivx Lite has one of the fastest confirmation times in the industry.  With the introduction of masternodes, confirmation times will be instant like when using a credit or debit card.

Proven technology

Pivx Lite is based on the bitcoin core but uses a faster block time and significantly stronger encryption algorithm that makes Pivx Lite, faster and more secure.

Community driven

Pivx Lite appreciates input from all sources and with the implementation of masternodes the next step will be to allow proposals from the masternode owners.  It is presently envisioned, total control of the coin, private keys, everything, will be turned over to the community so that it is run 100% by the community by either a Board of Governors (similar to Federal Reserve Board in US) or by activating the built in governance system in the masternodes.

PIVX LITE SPECIFICATIONS

Fast transactions

Pivx Lite generates a new block every 60 seconds. This is one of the fasted block times in the crypto space.
4 Pivxl coins are generated per block and with the implementation of Pivx Lite masternodes transactions are instant.

Enhanced Privacy With Masternodes

Pivx Lite uses the exact same masternodes as the current version of Pivx that includes Swift TX and obfuscation (8 rounds of coin mixing) to disguise the source of the transaction should you desire to use this service.  This makes it virtually impossible for someone to uncover the details of the transaction with having access to a majority of the masternodes on the network.

Proof of Work

POW was only active for a few days to generate the exact amount of coins necessary for a 1 to 1 coin swap of former Quark 2.0 holders. We have a snapshot at block 353,155 (August 2019) to swap out all coins 1 to 1.  This means we mined 9,321,106 coins for the coin swap.  Proof of work was then deactivated and the network is now supported by POS and masternodes only.   

Low fees

Pivx Lite has extremely low transaction fees for normal situations.  When sending Pivx Lite you have the option to send using Swift TX (sometimes referred to as “coin mixing”) which is based on Dash InstantSend but is better.  This transaction costs slightly more but is still close to the cheapest in the entire crytpo community

Proof of Stake

Pivx Lite rewards holders of the coin by paying 30% of the block reward (1.4 Pivxl)  for staking your coins.  This means you keep your wallet open and unlocked and thereby creates what is known as a node to better protect the network.  We use POS 3.0 and rewards occur automatically after 30 days.

Masternodes

Pivx Lite masternodes are based on the latest PIVX designs but with 2 very important differences.  We require 100,000 Pivx Lite coins for a masternode at the moment and rewards are split 70% to masternodes owners (2.4 coins per block) and 30% to POS (1.4 coins per block).   For more information you can go here to learn more details.

MOBILE WALLETS ARE NOW RELEASED

The mobile wallets are now released and available on the Google Play Store and Apple Store

ROADMAP

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December 2019

fork pivx, set up testnet, set new spork keys, rebrand to Pivx Lite

January 2020

Launch mainnet on January 8, 2020. Complete new website, setup Slack, Twitter and Reddit pages.  Start coin swap with Quark 2.0 holders.

February 2020

The dev team is continuing coin swap.   The team is also in active discussions with 2 crpto exchanges to list Pivx Lite coins.
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March - May 2020

Update wallets with minor bug fixes. Release mobile wallets for Android and IOS platforms.

Release TOR USB Hidden Wallet.

June - Sep. 2020

Continue to work on implementation of zk-SNARKS with anticipated 4th Quarter release.

Oct. - Dec. 2020

Release new blockchain security, release new desktop wallets to support new chain.

Continue with marketing and promotion.

CONTACT THE PIVX LITE DEV TEAM

We are always searching for new ideas and talent. Usually, these two things go hand in hand.  If you have an idea regarding the coin or ability to assist in some way then please contact Pivx Lite by sending an email to:

pivxlite@protonmail.com

WALLETS AND SOURCE CODE