PIVX Electrum wallet incoming....... CodeName : TBA
June 16th 2019 has been an international day of no note, except for on the purple side of the globe, where PIVX Electrum has been passed and received its first half of funding.
So what is Electrum and why are we so excited to be bringing it to PIVX?
Electrum is probably crypto’s most widely used light wallet. A light wallet allows users to receive, store and send crypto without having to download the entire blockchain. At this point the PIVX blockchain is almost 20GB big, so having lightwallets is critical to securing more casual users who aren’t willing to spend hours simply setting up their wallet.
Electrum has already been adopted to massive projects like Dash with some success, so PIVX having Electrum helps it keep pace with these far bigger projects.
Why are the PIVX Core team building another lightwallet?
They AREN’T, PIVX Electrum is being built by a completely separate team. PIVXElectrum is proof of the decentralised inclusive nature of the DAO. The proposal was put forward by Cryptosi, a community member. PIVX Electrum is being developed by an anonymous team, this will allow the wallet to be respected for its code alone and not the reputation of the Developers, all code will be open source from day one. Allowing Organisations and people to contribute to PIVX development without compromising their privacy in any way has been a goal of PIVX from day one and remains very important.
What does PIVX Electrum mean for the PIVX community?
PIVX Electrum was voted in by the community and will be developed to include features that the community will find useful. Planned features include Masternode management, incentivised nodes, vote monitoring and IPFS proposal information. It may also be possible for PIVX Electrum to implement Atomic swaps and allow for in-wallet conversion from Btc to PIVX and vice versa. All of these things and more could be on the PIVX Electrum roadmap which will be Released very soon. We are expecting most of the PIVX forks to fork this wallet and enhance their own projects with this new software. Atomic swaps on PIVX forks?
What are the drawbacks to using Electrum?
There are a few notable drawbacks to using PIVX Electrum. Firstly, staking is not available on PIVX Electrum, but if/when cold staking becomes available on PIVX then PIVX Electrum will be compatible. It’s also worth noting that PIVX Electrum does surrender an element of privacy and decentralisation because the software connects to a server to give it access to the PIVX network.
Where can we find out more about PIVX Electrum?
Check out the main PIVX Website www.pivx.org and also the PIVX Electrum website, is in the works.
How can developers get involved with PIVX Electrum?
If you are Developer and wish to be involved with PIVX Electrum you can contribute code directly on the github which will be public from day 1, Or you can join the discussion in the PIVXElectrum channel in the official PIVX discord. There will be bounties for features and powerful kudos from the PIVX social media machine for bug hunting.
All this excitement but when will PIVX Electrum be available?
PIVX Electrum should be released before 2020, exact release date is to be confirmed, please follow the PIVX Twitter for more information. We will have a two week beta testing phase for people interested in giving feedback.
We are looking forward to you using this wallet, and contributing to keeping PIVX top of the pile of Decentralised, community driven, privacy centric crypto currencies.