PIVX Is Launching a Decentralized Exchange on Its Masternode Network
ZDEX, the world's first ZKP privacy enabled decentralized exchange is coming soon and the count down has begun! https://t.co/HiWBvDT6wU
— PIVX (@_PIVX) October 16, 2018
According to the project’s original announcement, the ZDEX exchange will allow users to purchase the anonymous form of PIVX’s currency, zPIV, which is traditionally only minted in transactions. This anonymous coin is a product of the Zerocoin protocol, which provides the PIVX network with a protocol-level coin mixing service using zero-knowledge proofs to create untraceable and anonymous transactions.
By leveraging the Zerocoin protocol in the new exchange, PIVX is enabling the buying and selling of an anonymized coin with zero transaction history. This can be considered as the first private decentralized exchange, which is also being developed to combat ongoing regulatory pressure, especially in countries like Japan.
To secure ZDEX and assure rapid trade execution and settlement, PIVX will leverage its pre-established network of more than 1,350 masternodes. This network also enables the system to conduct trades of zPIV with multiple cryptocurrencies.
PIVX is actively pioneering a number of novel applications for the Zerocoin protocol and was notably the first network to achieve a Zerocoin mint on a mobile wallet.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.