Launched in 2018 with the primary goal of being the most private and secure digital currency, Pirate Chain strives to protect the financial privacy of every user in the world. Pirate Chain achieves this by employing the strongest and most acclaimed privacy protocol in the industry, and couples this with an unassailable strategy implementation.
What sets Pirate Chain apart from all the other privacy coins?
Many cryptocurrencies offer optional privacy features, however, ARRR is the first cryptocurrency to implement a mandatory, private-only usage of Zero Knowledge-Succinct Non-interactive Argument of Knowledge (zk-SNARKS). Zk-SNARKs is a zero knowledge proof protocol that allows one party to prove to another that a statement is true, without revealing any information beyond the validity of the statement itself. These proofs are also “succinct” and can be verified within a few milliseconds. Zk-SNARKs is widely accepted across the industry as the strongest privacy protocol in the cryptocurrency.
All information about the transaction including the sender address, transaction amount, receiver address, transaction ID are never publicly revealed. These information are only available to the sender and receiver who retain the power to opt-out of privacy by revealed the transaction ID as proof of transaction, if they so desire. Hence, Pirate Chain turns the privacy industry on its head, and returns the power of privacy to users by empowering them with the option to opt-out.
Fair Launch, just like Bitcoin
Pirate started with a fair public launch. There were no premined coins, nor was there an ICO (initial coin offering). Whilst many cryptocurrencies, including other privacy projects, levy a tax on mining rewards, Pirate does not impose any fee on the block rewards.
The total ARRR will number just under 210 million. Block time is approximately 60 seconds and reward halving will occur every 388,885 blocks or about 270 days.
How does Pirate’s privacy work
All ARRR addresses are by default shielded z-addresses only, as are all transactions are by default z-transactions only. This means that balances of every address are not visible to anyone else beside the user. The transactions also cannot be tracked as there is no trace of the transaction beyond the user’s wallet. Complete privacy down to the user’s IP address is further protected with embedded Tor network compatibility.
Another unique feature of Pirate Chain is the anonymity set. Pirate was designed to use virtually every transaction to build the anonymity set. This all-inclusive approach creates an infinitely growing, impregnable anonymity set. The anonymity set can be followed “live” here, https://anonset.dexstats.info/.
Pirate Chain Security
Pirate employs a Proof-of-Work algorithm for blockchain security. As an added security against 51% double-spend attacks, Pirate utilizes the delayed Proof of Work algorithm offered by Komodo. Delayed Proof of Work indexes Pirate’s blockchain onto Komodo and Bitcoin blockchains. In so doing, any attempts to attack Pirate’s blockchain will first need to overcome both these blockchains, which is prohibitively costly and virtually impossible.
The Pirate community is a grassroot group passionate about personal privacy. The pillars of this community are rooted in the best fundamentals of a pirate life: a fervent desire for freedom, and the right to live a life free from oppression by a broken system. The Pirate Chain team is a decentralized group of volunteers who share the common goal of protecting privacy for the humanity. Anyone can contribute to the community and everyone is welcome. Follow us on our social media outlets listed below.
The Privacy Ecosystem
A fleet of merchants who chose to accept ARRR for payment have banded together and formed the Pirate ARRRmada. ARRRmada.com is a one-of-a-kind online directory of store proprietors who have opted to provide privacy-preserving payment methods for their customers. The goods and services offered at the ARRRmada are widely varied, including apparel, artwork, webhosting, education, medical and legal service. You can even purchase giftcards with ARRR. To further facilitate merchant ARRR adoption, in tandem with the ARRRmada, the Pirate team have developed Pirate Pay. Pirate Pay is a fully decentralized, open source payment gateway that simplifies the online payment process while at the same time reducing the cost to transact.
As the leading cryptocurrency with the best privacy, Pirate is the closest approximation to cash in terms of anonymity and also boasts the sound fiscal policy of Bitcoin with programmed scarcity. For the first time, the algorithm of ARRR allows a cryptocurrency where it is impossible to know or track who sent a transaction, how much the transaction amount is, and who received the transaction. Add to that, no one can see the balances of the addresses and thus, this creates the perfect anonymous currency.