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PRiVCY is a user-friendly digital currency that enables instant and private payments to anyone, anywhere in the world. On July 17th PRiVCY performed a 1:1 swap from the old PRiVCY codebase to a new chain based on the Yespower algorithm. The total number of swapped coins is 12.100.000. Max supply is 30.000.000, and current circulating Supply is visible at http://explorer.privcy.eu/. The project fund contains 250.000 coins. The fund is divided over 10 masternodes to support the chain. (Proceeds will be used for future development). PRiVCY is a Masternode Pow coin with a required collateral of 25,000 coins. This setup allows for a long-term payout schedule, ensuring the coin's good health, with a sustainable inflation in the long run. You can find more information about the emissions schedule here: https://privcy.eu/privcy-specs/ Also, if you want to see the full emissions schedule with more details about how inflation will affect the future of the coin please feel free to visit our Discord server.
What is PRiVCY?
PRiVCY is a digital currency designed with a strong focus on maintaining the privacy of its users. It employs a variety of technologies to ensure that both the identities of its users and the details of their transactions remain confidential. This cryptocurrency aims to provide a seamless and secure way for individuals to conduct instant and private payments, regardless of their location globally.
On July 17th, PRiVCY underwent a significant update, transitioning from its old codebase to a new chain that utilizes the Yespower algorithm. This change was executed through a 1:1 swap, with a total of 12.1 million coins swapped to the new chain. The maximum supply of PRiVCY coins is capped at 30 million, with the current circulating supply and other relevant details accessible through its blockchain explorer.
The project is supported by a dedicated fund containing 250,000 coins, which are distributed across 10 masternodes. These masternodes play a crucial role in supporting the blockchain network, and the proceeds from the fund are earmarked for future development efforts. To participate as a masternode, an individual must hold a collateral of 25,000 coins. This requirement ensures a long-term payout schedule that promotes the sustainability of the coin and a controlled inflation rate over time.
For those interested in the technical and economic aspects of PRiVCY, detailed information about the emission schedule and how it influences the coin's inflation and future can be found on the official website. Additionally, the community and developers engage in discussions and share updates on the project's Discord server, providing a platform for users to stay informed and involved.
As with any cryptocurrency investment, it's important to conduct thorough research and consider the risks involved. PRiVCY's privacy-focused approach and ongoing development efforts highlight its potential within the digital currency space, but individual due diligence is crucial.
How is PRiVCY secured?
PRiVCY employs a multifaceted approach to security, ensuring the safety and integrity of its network and transactions. The foundation of its security measures lies in robust encryption techniques, which safeguard data and transactions on the network, making it extremely difficult for unauthorized parties to access or alter transaction information. This encryption is critical in maintaining the privacy and security that PRiVCY promises its users.
In addition to encryption, PRiVCY undergoes regular security audits. These audits are conducted by independent security experts who scrutinize the network and its codebase for vulnerabilities. If any issues are identified, they are promptly addressed to prevent potential exploits. This proactive approach to security helps in maintaining a secure environment for users and their transactions.
The PRiVCY team is also committed to a rapid response to any potential security breaches. Although there have been no major security breaches reported in the past, the team remains vigilant, ready to respond quickly to any security threats that may arise. This readiness ensures that the network remains secure and that users' assets are protected against unauthorized access or theft.
The transition to a new chain based on the Yespower algorithm, completed through a 1:1 swap, further underscores PRiVCY's commitment to security and privacy. This move was aimed at enhancing the network's security features and ensuring a more private and efficient transaction process for users.
Moreover, the implementation of masternodes, with a required collateral, not only facilitates a long-term payout schedule but also adds an additional layer of security to the network. Masternodes play a crucial role in the governance and operation of the blockchain, helping to stabilize the network and provide a more decentralized and secure transaction verification process.
It's important for users to conduct their own research and understand the security measures in place before engaging with any digital currency. PRiVCY's approach to security, through encryption, regular audits, and a quick response mechanism, along with its strategic updates and use of masternodes, demonstrates a comprehensive effort to protect users and their transactions on the network.
How will PRiVCY be used?
PRiVCY is designed as a digital currency that emphasizes privacy and instant transactions, catering to users who prioritize anonymity in their online financial activities. This focus on privacy makes it particularly suitable for applications where confidentiality is paramount, such as whistleblower protection. By enabling anonymous transactions, PRiVCY can provide a secure means for whistleblowers to receive funds or support without compromising their identity, thus protecting them from potential retaliation or legal consequences.
Moreover, the privacy features of PRiVCY extend its utility beyond whistleblower protection to any scenario requiring anonymous transactions. This could include donations to sensitive causes, private purchases, or secure transfers between parties who wish to maintain their financial privacy. The underlying technology, including the Yespower algorithm and the use of masternodes, ensures that transactions are not only private but also secure and verifiable within the network, without exposing the details to the public.
The transition to a new codebase and the implementation of masternodes highlight the project's commitment to long-term sustainability and network health. Masternodes play a crucial role in facilitating transactions and securing the network, while the defined emissions schedule aims to manage inflation effectively, ensuring the currency's value remains stable over time.
It's important for potential users and investors to conduct thorough research and consider the broader implications of using a privacy-focused digital currency. While PRiVCY offers significant benefits in terms of anonymity and security, understanding the technical aspects, potential use cases, and ethical considerations is crucial before engaging with the currency.
What key events have there been for PRiVCY?
PRiVCY has experienced several pivotal moments that have shaped its trajectory within the cryptocurrency landscape. These events underscore its commitment to privacy, security, and community engagement, reflecting its ongoing development and adaptation in a rapidly evolving market.
One of the significant milestones was the launch of the ViCA Token, which marked a notable expansion in PRiVCY's ecosystem. This development was complemented by its listing on an exchange, enhancing its accessibility to a broader audience and providing liquidity to its holders. Furthermore, a strategic partnership with Octoverse was established, broadening its network and potential for integrations with other platforms and services.
In addition to these developments, PRiVCY has actively participated in key industry conferences and events, such as the IEEE International Symposium on Hardware Oriented Security and Trust and the Blockchain Life 2024 conference. These participations not only demonstrate PRiVCY's commitment to staying at the forefront of blockchain security and privacy but also provide valuable opportunities for networking and collaboration with other industry leaders.
The project has also focused on enhancing its privacy features, with updates and developments in privacy-enhancing technologies. A notable achievement in this area was the launch of a new liquidity pool on Verse DEX, alongside potential integration with the privacy-focused ZANO token. These efforts highlight PRiVCY's dedication to improving its offerings and ensuring user privacy.
However, the journey has not been without challenges. The use of privacy coins has sparked discussions and debates, leading to some exchanges delisting them due to regulatory concerns. Despite these hurdles, PRiVCY continues to navigate the regulatory landscape while maintaining its core values of privacy and security.
On a technical note, PRiVCY underwent a significant update with a 1:1 swap from the old codebase to a new chain based on the Yespower algorithm, ensuring a more robust and secure network. The project also maintains a fund supported by masternodes, ensuring long-term sustainability and supporting future development.
In conclusion, PRiVCY's journey is marked by strategic developments, community engagement, and a steadfast commitment to privacy and security. As the cryptocurrency space continues to evolve, PRiVCY remains focused on advancing its technology and fostering a secure and private ecosystem for its users.
The live PRiVCY price today is $0.000703 USD with a 24-hour trading volume of not available. We update our PRIV to USD price in real-time. PRiVCY is down 2.85% in the last 24 hours. The current CoinMarketCap ranking is #8727, with a live market cap of not available. The circulating supply is not available and a max. supply of 30,000,000 PRIV coins.