Pirate (ARRR)
About Piratechain
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A hearty ahoy on the medium blog of PIRATE.
In September 2018 we set sail, hoisted the flag and have been at sea ever since. What started with a crazy idea led to a blockchain project, which is anonymous and secure.
Our goal was to see if we could combine anonymity, privacy and security. And what came out was Pirate, no metadata and secured via dPoW. We wondered why nobody else came up with the idea. What started with a crazy idea and an experiment led to the most anonymous and secure crypto currency, so we decided to publish the project.
Pirate is a blockchain-project from the Komodo Platform community. The idea was from the community, the programming was from the community and now the ship is controlled by the community. Together we conquer the oceans.
We ARRR very proud to be part of the community and invite all users to come to our ship and join Pirate.
At this point we would like to mention again that PIRATEchain has nothing to do with piracy, but the focus is solely on security and privacy.
“That’s why I strongly say, this project is all about PRIVACY, and nothing about PIRACY.”
Piracy is far from us! Why the name has fallen on PIRATE and what the backgrounds are for it, how PIRATE developed in detail, experience you in the following article:
What makes Pirate unique
Pirate is a Privacy Coin, of which there are already some, but we believe that Pirate is one of the best Privacy Coins. No metadata can be read on the blockchain. Nobody knows how many coins you have. Unlike many other privacy coins, there is no optional privacy with Pirate, all transactions are forced private, so there is no transparency.
zk-SNARKS technology
Pirate uses ZK-Snarks to shield 100% of peer-to-peer transactions on the blockchain, resulting in highly anonymous and private transactions. Zero-Knowledge-Proofs allows two parties to perform an anonymous transaction with each other.
With the zk-snarks technology, all payments are published in the blockchain, but the transactional metadata that can identify the sender and recipient cannot be read.
Technology dPoW (delayed Proof of Work)
Pirate already has a strong hashrate, but potentially many crypto currencies are vulnerable to 51% attacks. Piratechain is secured by Bitcoin’s Hashrate. Thanks to the dPoW technology, invented and sponsored by the Komodo Platform, a backup of the pirate blockchain is written to the Bitcoin ledger every 10 minutes. This means that attackers would first have to take over Pirate’s Hashrate and then hijack the Bitcoin network, which is almost impossible today.
More features of PIRATE
- Komodo Assetchain
- Independent blockchain
- Privacy/Shielded/z tx only chain. No transparent transactions possible on PIRATE chain.
- Probably has the most shielded coins of all other coins, even more than Zcash
- Block time aprox 60 seconds.
- Block reward of 1 satoshi will be reached in about 25 years.
- Total supply of around 200 million PIRATE
- CryptoConditions contracts not possible on this chain, as it is a z-tx only chain.
- Mining algorithm: Equihash PoW
- Alternatively can use Verushash PoW, but has to be used for a 100% PoW chain.
- TOR network supported
- Sapling upgrade planned for Q1 2019
- Own exchange Tortuga planned for Q1 2019
Pirate conquers the oceans and goes ashore
Pirate is now represented on several social networks.
- Twitter: @PirateChain
- Telegram https://t.me/piratechain
- Reddit: www.reddit.com/r/piratechain
- Bitcointalk Topic: https://bitcointalk.org/index.php?topic=4979549.0
- Discord: https://discord.gg/Bd4nY7C
On Medium we have a strong team that takes care of news, updates and information. We try to explain Pirate easily and to respond to the technology. Our team consists of international seamen. We come from Germany, Spain, France, Italy, Netherlands, Hungary, Croatia, Philippines, Iran and Russia. Regularly more sailors come to the pirate ship to sail together.
On behalf of all medium members I would like to thank our captain, the developers, the graphic designers, the technical writers, the translators and all helpers.
I would also like to thank all passive members who support Pirate, are invested in ARRR and believe in the project.
Together we are stronger!
Stay up to date, follow Pirate on medium and in all social channels. We are happy that you are on board. We are open to suggestions for improvement and grateful for any help.
