Pirate´s Privacy secured with Bitcoin´s hashrate
Due to the delayed proof of work, PIRATE additionally secures itself via Bitcoin´s hashrate
A big problem in cryptobusiness is the vulnerability of young and small blockchains to 51% attacks. Security is one of the 5 important pillars provided by the Komodo network. With the delayed proof of work the Komodo Platform offers a unique service to additionally secure a blockchain via Bitcoin’s hashrate. It’s worth noting that Bitcoin and its community offer a tremendous hash value that no one has yet surpassed.
PIRATE as a community project in the ecosystem Komodos offers absolute anonymity as well as absolute security through dPoW. In combination there is no better solution in the current blockchain industry.
How does dPoW work?
Blockchains have to become more secure, not least because numerous 51% attacks have shown this. Among others Verge, ZenCash and Bitcoin Gold were affected. Only recently a hacker tried to take over Einsteinium’s network, but failed because of dPoW.
Every 10 minutes, a snapshot is taken of the entire Komodo ecosystem and written into the Bitcoin chain. Notarization is the backbone of this security mechanism, also of PIRATE as an asset chain in the ecosystem.
Simply put, a backup of the PIRATEchain is stored in Bitcoin. In case of a successful attack on the network, you can simply go back to the last validated backup. So that PIRATE can now be captured, Bitcoin would also have to be hacked.
Daniel C. P. of the Komodo Platform explained the dPoW security mechanism in the following article:
Apart from that PIRATE has the third highest Hashrate of all Equihash coins only 7 weeks after market launch. With 100 MS/s and an all-time high of 150 MS/s, the growth is pirate strong, but less relevant thanks to delayed proof of work.
Privacy and security
The coin (ARRR) itself provides security when interacting with sellers or other parties by offering financial anonymity to the coin. TOR provides even more privacy and security. However, unlike other privacy coins, TOR is not a unique feature.
PIRATE has the full charge of anonymity and offers privacy as well as the full range of security!!!
