v0.0.41 Release - PIVX token swaps

Sentinel
Sentinel
Jun 16, 2018 · 4 min read

Zerocoin Cryptocurrency Protocol

The importance of fully anonymous cryptocurrency transactions.

  • Hackers targeting your ERC20 address.
  • Fungibility issues due to scam accounts attached to the transactional ledger.

PIVX

Advancing the Zerocoin protocol.

  • Small fixed denomination spends to avoid tracking large transactions.
  • Fast verification and network synchronization requiring just 0.5 seconds to convert and 2.5 seconds to spend zPIV.
  • Multiple denominational spends in a single transaction.
  • Automatic conversion option from PIVX to zPIV.

Using the PIVX to SENT centralized swap bridge

Convert PIVX to SENT in the Sentinel Desktop Client in 2 easy steps:

  1. The user then has to send PIVX to the specified address shown in the client which will then trigger the conversion and the transfer of converted tokens to the user specified address.
PIVX to SENT token swap
  • The Sentinel client transfers the amount required to the address of the Sentinel-ETH node.
  • The Sentinel-ETH node then communicates with the PIVX node via APIs, requesting a transfer of an equivalent value of PIVX to the PIVX address. It does so by taking an average of various exchange API inputs.

Anonymization of Cryptocurrency

The obtained PIVX can be converted into ZPIV and back within the PIVX wallet, providing the user with anonymized coins without a transaction history.

Conclusion

Extending Sentinel’s Token Swap to include PIVX’s Zerocoin-enabled network allows users to obfuscate the transactional history of their ERC20 tokens. This effectively hides their crypto-asset’s paper-trail from malicious third parties.

Sentinel

An interoperable networking layer for distributed services. Developed decentralized VPN as first use case. Learn more at Sentinel.co

Sentinel

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Sentinel

Interoperable Network Layer for Distributed Resources & Services/dApps. Our #dVPN is the first dApp to utilize our Bandwidth Incentivization Protocol - $SENT

Sentinel

Sentinel

An interoperable networking layer for distributed services. Developed decentralized VPN as first use case. Learn more at Sentinel.co