Project Name: Pirate Chain
Coin Ticker: ARRR
Market Cap: $5,198,206 (as of 4th May 2020)
Exchanges: Altsbit, TradeOgre, Coinex, Bilaxy, SafeTrade, Altily, P2PB2B
Mining Algorithm: Equihash
Block time: ~60 Seconds
Original code base: Zerocash
Founder’s reward or analog: None
Development Team: JL777, MrLynch, Radix42, ComputerGenie
How does the project protect users?
We utilize zk-SNARKs for our shielded transactions, and any transaction after the initial block reward is done with 100% shielded transactions.
Explain the Anonymity Sets (per txn): Every transaction increases the total anonymity set
Privacy By Default: Pirate Chain is private by default and cannot be turned off
% tx Anon: 100% after the block reward distribution to the pool or solo miner
We currently have several wallet types: SevenSeas (full node wallet with the ability to write memos), Pirate Ocean (barebones full node wallet), Paper Wallet (generates an address for cold storage), Pirate Lite Wallet (doesn’t need to download the chain to send/receive transactions), and Verus Agama (full node multi-coin wallet developed by Komodo and continued by Verus)
What are you doing to make the wallet more user friendly?
The wallets are simple in design. We are taking the comments/feedback we receive from users and trying to implement changes to increase the user friendliness.
Supported OS: Windows, MacOS, Linux, Linux ARM
Mobile: We are currently working on a mobile wallet
Why is privacy important to your project team?
Privacy means that you have the ability to be yourself and to be free. You don’t have to worry about others judging you for what you purchase or what you do in your personal life. It allows you to be who you truly are. We take privacy extremely serious and develop products that increase our users privacy (like the operating system we developed, as well as the point of sale system that we are beginning to create). Our chain does not leak any meta data, and only allows the users involved in the transaction to see amounts, addresses, etc.
What makes your project stand out above other projects?
Our project stands out by not only being the most private coin in existence, but also being the most secure by having delayed proof of work, which prevents malicious attackers from 51% attacking our chain by notarizing our transactions on to the Komodo blockchain, and Komodo notarizes their chain on to the Bitcoin blockchain. This means that in order to 51% attack Pirate Chain, you would have to simultaneously 51% attack Pirate Chain, Komodo and Bitcoin. We also develop tools to help increase our user’s privacy and security, free of charge. On top of all that, we have also partnered with Turtle Network to help build gateways to their services, as well as partnering with Sentinel to provide a dVPN for the products/services we create.
What do you have in the works for future development?
Our plans for the future include a mobile lite wallet, a point of sale system, anonymous messaging, a second and more feature rich operating system, and having a modified version of Komodo’s AtomicDex, dubbed zAtomicDex, which will use our chain to anonymize coins in a p2p Trade.
What is the path to mass adoption of your project?
Our plan for mass adoption is the development of the point of sale system, which will allow physical shops to not only accept Pirate Chain as a payment, but also allow the merchant to instantly convert Pirate Chain to a stable coin during the transaction. This will not only protect the merchant from the volatility of cryptocurrencies, but also protect the customer’s privacy by being able to use Pirate Chain.
Pirate Chain has had little to no funding throughout it’s life since we had a fair launch with no pre-mine, no dev fee, no ICO and no IEO. We are a true community project and have a large amount of users who contribute in a wide variety of ways. Our website is translated in over 20 different languages, we have the best privacy and largest anonymity set in crypto and we are forging partnerships that will help push us and our partners to the next level. Monero has mentioned that zk-SNARKs offers the strongest privacy, and both Monero and Zcash has complimented us on our anonymity set.
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