What problem is PIVX trying to solve?
It’s not enough to just start a cryptocurrency project today (though some have). One needs to have a reason, or at the very least an issue to solve that isn’t being solved otherwise. So I asked the community what PIVX was trying to solve. I wasn’t disappointed.
I recently read an article completely unrelated to crypto where the author asked the simple question, “What problem is this project trying to solve?” It was a project management piece. However, when I read that, my mind immediately moved to the PIVX community.
So, being the inquisitive person I am, I asked a few regulars on the PIVX Discord channel a similar question, “What problem are we trying to solve?” We being PIVX as a whole. I have my own take on the issue(s) the project is working to solve, and I’ll give my take in a moment.
Here are some excerpts of the answers;
Sigge B noted, from an internal community standpoint,
We want to show that we’re a great DAO, a great community, so let’s live this from the inside.
While perhaps not an outright “problem,” it is a lot of work keeping the cogs moving in such a large and diverse entity
Ambassador, another active member notes,
PIVX is kind of following what Satoshi wanted to do with Bitcoin in the first place, but cryptography + blockchain wasn’t possible back in the days when Satoshi was still active in the forums.
This is somewhat how I look at it too. Ambassador further noted that PIVX is on its way to being a true trustless setup too. The future is now. And yep, it’s pretty awesome. He further noted the Proof of Work/Bitcoin inefficiencies that the project left years ago. For example,
…slow and expensive transactions and non-existent privacy (“everyone walking on the streets with their bank accounts written on their forehead”).
Eric_Stanek, (← Is that his real name?) another active member, pulls the rug right out from under our feet with the textbook answer;
Externally, the problem PIVX will solve, is borderless, instant, near zero fees, secure, private, [and] P2P value transfer.
That’s hard to argue with. However, it really is the majority of the “problem.” Personally, the only value-added I can place is the ease with which the user can truly secure their holding to “hide” them.
That, in itself, is a problem with solving. As Ambassador notes above, Bitcoin users — while hodlers may have a good chunk of change — are walking around with their wallets wide open for viewing. That’s not something I want out there. Thus, PIVX has given me the option not just to mask my holdings, but outright hide them.
So, in the end, the problem the PIVX is solving is one which 99%* of the cryptocurrency community is unable to do itself. Keep community members, their transactions, and low transfer fees at the top of the priority list. These alone are a major hurdle for adoption. And PIVX has checked all the boxes (99.999% at least).
*my personal estimation
