A variant forked from Dash, cryptocurrency PIVX (Private Instantly Verified Transactions) has embarked on a re-branding journey in an effort to further grow its market share. The virtual currency focuses on private instant verified transactions and, like Dash, emphasizes decentralization.
The PIVX project is an open-source proof-of-stake virtual currency that borrows elements from Bitcoin Core and Dash. Its innovative approach relies on a PoS 3.0 protocol with fixed block rewards and the deployment of masternodes.
The new website that PIVX boasts places heavy focus on website design and looks unique. It is thus likely that the re-branding strategy will achieve its primary goal of securing a leading place for PIVX on Coinmarketcap charts.
The team behind the project is currently developing a transaction anonymity feature based on cryptographic e-cash. It is foreseen to launch before the end of 2017.
PIVX’s latest accomplishment is a marketcap of USD $2.5 million, which is a testament to its growing appeal in the cryptocurrency community. Hence, re-branding from DarkNet to PIVX has apparently worked out well for the bitcoin project.