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Prominent Cryptographer Joins Privacy Altcoin, PIVX, Development Team To Integrate Breakthrough Bulletproofs

 

TORONTO - February 26, 2018 (Investorideas.com Newswire) Prominent cryptographer Jonathan Bootle is joining the development team of PIVX (Private Instant Verified Transaction). Known for being one of the key genius cryptographers who developed and wrote the whitepaper on Bulletproofs, Bootle's work will be focused on integrating "breakthrough" Bulletproofs into PIVX's custom Zerocoin protocol.

"This is the first time I've been directly involved in the practical application of the Bulletproofs theory on any project," said Bootle. "I am also delighted to work with Mary Maller, PIVX's cryptographer, who was one of my collaborators from the UCL Infosec group."

"The addition of Bootle to the development team is incredible for the entire distributed ledger technology (blockchain) sector," said PIVX community leader Bryan Doreian, better known as Snappy in the crypto-verse. "PIVX has already pioneered privacy in Proof of Stake (PoS), and the continued development of efficiency, security, decentralization, and ease of use for individuals when it comes to privacy within cryptocurrency will be greatly enhanced through Bootle's work with bulletproofs in PIVX."

The short proofs from Stanford University define bulletproofs as, "short non-interactive zero-knowledge proofs that require no trusted setup [...] Bulletproofs are designed to enable efficient confidential transactions in Bitcoin and other cryptocurrencies. Every confidential transaction contains a cryptographic proof that the transaction is valid. Bulletproofs shrink the size of the cryptographic proof from over 10kB to less than 1kB."

What this means for the rising altcoin is 1) PIVX's Zerocoin proofs, or transaction size, will become a fraction of their current size and 2) PIVX will be able to achieve a trustless Zerocoin setup.

Bootle is a PhD candidate in the area of cryptography, working on efficient zero-knowledge proofs with the goal of developing, more specifically, zero-knowledge membership proofs.

In October 2017 PIVX made history by being the first PoS blockchain to successfully implement the Zerocoin protocol, making transactions completely anonymous through their custom Zerocoin implementation, zPIV. PIVX continues to make every effort to be the best privacy cryptocurrency available.

For more information about PIVX, please visit www.pivx.org.

ABOUT PIVX:

PIVX is a community-centric cryptocurrency with a focus on decentralization, privacy, and real-world use. It utilizes an energy efficient Proof of Stake protocol and a second-tier Masternode network for inclusive community-based governance along with a blockchain based self-funding treasury system ensuring its sustainability.

PIVX is continuously striving to achieve a better governance system, instantaneous private transactions, and fungibility in order to lead the next generation cryptocurrency. PIVX is used in over 174 countries and their website is available in over 30 languages and counting.

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