Archived To remove Libzerocoin protocol from Pivx wallet replacing it with Dash’s Private send technology

[danielle]

martin68
2
Nov '17

Hi All,
First of all forgive me in advance if I have got any of the tech stuff wrong and I hope my lack of knowledge in that side of things won’t detract from my proposed proposal

.
I invested in Pivx because of strong community (colour purple as well), super super fast transactions, the ability to stake and it’s commitment to privacy. Also the fact that it was a fork of Dash was of interest to me as I am a holder of that coin. I liked the fact they were linked. The ability to stake feeds into the Pivx community spirit, it makes you feel part of it. Over the last month this spirit has been amazing. From pulling together with the devs to get the v3.0.04 wallet up and running, showing lots of patience, understanding and appreciation of the their hard work. We had hardly taken a breath before we all came together for the Binance vote. Okay we didn’t win but again the strength of the community was shown and for me it was a very positive exercise. I will now outline the reasons I want Libzerocoin removed and replaced by Dash’s Private send.

1. Zerocoin has been exploited twice this year, the first one pre the Pivx integration. At present the devs are working on a patch for the latest exploit. This has caused the Pivx wallet to go down on the exchanges which coming so soon after it been down for a week during the integration not ideal. It also strikes me that been a third party protocol we are hostage to further vulnerabilities and lessens out control. I now feel we should be concerned with the stability of the Zerocon Protocol especially with many further improvements needed.
2. Even if it had shown itself to be stable we have the speed of transaction issue. Sending Zpiv is very very slow and I also understand that it isn’t compatible with Swiftx the technology responsible for our super fast transaction times. I have been told that it has improved it’s transactions speed and with further development will become 4 or 5 times faster again. Still nowhere near instant.
3. Zpiv can only be divided by whole numbers which is also extremely problematic. How can we expect Merchants to except zpivs in its present form. I am led to believe that this can be improved upon but until then we cannot approach merchants with confidence and in a very fast moving and competitive space we can’t afford this luxury. Once again it is further development with more downtime.
4. To stake Zpivs the present reward system with the seesaw mechanism has to be overhauled.
5. Generally I feel that it isn’t unreasonable to to expect that most of these issues could have been anticipated. They then could have been discussed and a fully informed decision on whether libzerocoin was best for Pivx could have been made. When things that could have been anticipated aren’t then we are left with making solutions up on the hoof and in a rushed fashion leading to more problems. Furthermore it isn’t clear to me how the development of this protocol plays out. Who sets the pace? Is it the zcoin devs, our devs, do we collaborate? are we on our own?
6. Due to the above I propose we should reverse the integration of libzerocoin and replace it with Dash’s Private send technology which has worked fine for them and as they have a very strong dev team it is much less likely to have vulnerabilities that can be exploited. It may not have the level of privacy that some people would like but it is Private and I believe the community and the market will respond favourably. Crucially it will bring stability and full control to the Pivx network and who is to say as we get stronger that we cannot improve upon it in years to come.

To sum up: I get that Privacy is an important feature of Pivx for many people and with Private send we can have that. Granted it’s not opaque but we have to consider the environment that crypo currencies will be used in. It will be one where governments and banks will be unlikely to existent in their present form as they will no longer have full control over the money supply and will not have the resources to “police” it. To put all our eggs in one basket and go for 100% privacy is acting out of fear of been “caught” by big brother. With mass adoption of Crypto we will have nothing to fear from him. I want all the features of Pivx to work in harmony with each other and any development or enhancement of one shouldn’t degrade the other fundamentals that make Pivx what it is. Zerocoin is having such an effect. I strongly believe we are heading in the wrong direction. There is growing frustration amongst the community and this will be reflected when the wallet becomes operational again on Bittrex. We have built up something really amazing which is still growing and I know if just roll thing back we can then fully focus on mass adoption for Pivx.
I am not sure how to cost this proposal but i am sure if there is a positive response that won’t be a problem.
Thanks for taking the time to read this.
One love.
Martin