Pirate Chain ($ARRR) is a cryptocurrency uniquely designed to be the best at one feature — Privacy.
Almost all other coins that claim to be in the privacy space only provide optional privacy, as a secondary feature. By intention, all $ARRR transactions are anonymous by default.
The total ARRR will number just under 200 million. Block time is approximately 60 seconds and reward halving will occur every 388,885 blocks or about 270 days. ARRR has undergone its first halving.
ARRR possesses the best features of ZCash’s, zk-SNARK, and Monero’s default privacy enforcement. All addresses are by default shielded z-addresses only, as are all transactions are by default z-transactions only. This means that the 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. Pirate Chain accomplishes this anonymity by using zk-SNARK, which is an algorithm that even Monero’s founder, Riccardo Spagni (aka fluffypony), has publicly said that “provides much stronger untraceability characteristics than Monero.” (https://twitter.com/fluffypony/status/1052095452651376640?s=20). Zk-SNARK (“zero-knowledge succinct non-interactive argument of knowledge”) is an algorithm in which two participants of a transaction are able to prove to each other that they have a particular set of information, without revealing what that information is.
Another very unique feature of Pirate Chain is the anonymity set. It is purposefully designed to use virtually every transaction that has ever occurred to create the anonymity set. All the major privacy cryptography uses anonymity set to obscure transactions, or simply put to “hide within.” Monero uses only a maximum of 15 transactions for RingCT. At the time of this article, only around ten percent of ZCash transactions are shielded, which leaves an anonymity set of only 15,000 (according to ZCash founder, Zooko, https://twitter.com/zooko/status/1204597730481324032). Although this is an improvement from 15, Pirate’s anonymity set is infinitely larger. This is because every transaction of ARRR from the first transaction after it is mined and including every transaction sent are all participants of the ever-growing anonymity set. This creates an infinite number of participants to the anonymity set which makes Pirate Chain the most private and secure, as lauded by both Monero and Zcash teams (https://twitter.com/ZcashFoundation/status/1142825729005981696?s=20 ; https://www.youtube.com/watch?v=xicn4rdUj_Q ).
The community at Pirate Chain came together to build a privacy-centric, operating system with the primary goal of protecting the user’s security and anonymity. Pirate OS was created to defend your privacy with VPN and Tor by default. The OS also boasts pro-active defenses like Mac address spoofing which gives you anonymity on your own local network. To round out the security package, PirateOS will include drive encryption to protect the contents on the USB drive in case your device falls into the hands of unauthorized users. PirateOS version 1.0, nicknamed GhostShip, is currently in beta testing and will officially launch in January 2020.
For the first time in the history of digital currencies, 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.
Privacy is not Pirate Chain’s only outstanding feature. Pirate Chain is also secured by Bitcoin’s network using delayed Proof of Work (dPOW). Komodo and hence ARRR secures its blockchain is by the use of 64 elected Notary Nodes that notarize transactions and embedding them into Bitcoin’s network in a delayed manner.
New technology often brings new developments. The team behind Pirate has developed it’s own merchant gateway, CryptoCurrencyCheckout (CCC). CCC is free to use and does not handle funds at all. CCC acts, in the truest sense of the word “gateway”, linking the customer and merchant via a seamless payment solution.
Upcoming plans in the short term include release of PirateOS 2.0, nicknamed Galleon. Galleon will have unique privacy-focused applications custom built in house. Pirate Chain is also working with a special team on a point-of-sale system to be used together with the $ARRR lite wallet. This point-of-sale system will facilitate seamless private transactions between merchant and customers akin to the anonymity of paying with cash.
As you can see, Pirate Chain ($ARRR) is for all essential purposes the perfect Privacy-centric Cryptocurrency by being absolutely and incomparably private, while at the same time undeniably secure in this sector. People who are looking to have financial privacy would benefit the most from Pirate Chain.