Pirate Chain

Pirate Chain is a fully decentralised private send cryptocurrency.[3] It uses zero-knowledge proof (Zk-SNARKs) protocol that cannot be compromised by other users’ activity on the network in order to shield 100% of the peer to peer transactions on the blockchain and the rule of enforced private-only transactions by Monero, making highly anonymous and private transactions.[4]

Pirate Chain
Ticker symbolARRR
Development
White paperThe Pirate Code
Initial release30 August 2018 (2018-08-30)
Code repositorygithub.com/PirateNetwork
Development statusActive
Written inC++, Rust, Python, Go
Operating systemLinux, Windows, macOS
Developer(s)The Pirate Chain team
Source modelOpen source
Websitepirate.black
Ledger
Hash functionEquihash
Block reward64 ARRR
Block time60 seconds
Block explorerexplorer.pirate.black/stats
Circulating supply157,355,911 (May 2020) ARRR[1]
Supply limit200,000,000 ARRR[2]

While most cryptocurrency transactions are traceable on the blockchain, Pirate Chain is private by default[5] and it utilize a variety of protocols to obscure the addresses of transacting parties.[6]

History

Pirate Chain (ARRR) was initially an experiment to observe if forced z-transactions would work. After Discord[7] user jl777, James Lee - a Komodo crypto developer,[8] successfully implemented delayed Proof of work from Komodo[9], making Pirate Chain essentially feature complete.[3]

On 30 August 2018[4], Pirate Chain was launched as an independent blockchain within the Komodo[10] ecosystem.[11]

In September 2018, after a series of tests done on a separate chain with the same parameters as Pirate Chain but called TXSCLPRT, the notarization of the private chain was successful. The chain will fork next day and dPoW is integrated.[12] In the same time, the halving increased 5 times, aggregating the total supply amount of the blockchain to a fixed total of 200 million units’ with a mandatory transaction privacy[13] using the zk-SNARKs protocol.[14]

Pirate Chain is protected from 51% attacks as the blocks are notarized onto both Komodo and Bitcoin blockchains.[15] Attempts to mount a Sybil attack against Pirate would have to overcome the combined hashrates of Bitcoin, Komodo, and Pirate[9]. Which it will represent in an astronomical cost.

The first official logo was published on 9 October 2019, after a contest launched by FishyGuts, the social media influencer of the newly Pirate Chain team.[16]

On 12 February 2020, Draeth - captain of the team,[16] announces that Pirate Chain, Sentinel, Ether-1 and Turtle Network form the Blockchain Privacy, Security & Adoption Alliance (BPSAA).[17][18] The main objective of the alliance is to:

”unite skilful dedicated teams to create value and new innovative solutions”.[19]

Privacy

Pirate Chain is mined into a transparent address[20], but from this point it can go only into a shielded address.[21] By solving Zcash’s fungibility issue through the elimination of transaction functionality to transparent addresses in its blockchain, it is considered to be one of the most private blockchains in operation.[6][22]

Acknowledgement

In a reply to a Twitter user, John McAfee mentioned Monero and Pirate Chain as the privacy cryptocurrencies he would recommend.[23][24]

Zcash Foundations recognised the size of Pirate Chain anonymity set in another Twitter reply.[25]

Private and Anonymous Messaging

Pirate Chain developed a possibility to send private and anonymous text messages using the memo field of the Seven Seas exclusive wallet.[26]

Mobile wallet

On 16 September 2019, two members of the Pirate Chain team try the first mobile transaction.[12] MrLynch sends ARRR and a memo to KOSIUS using an app that is running natively on a smartphone. This results in the first ever mobile Pirate Chain transaction.

Community

Pirate Chain is an independent chain that is using the delayed proof-of-work (dPoW).[27] There was no ICO, IEO, presale, premine, no developers reward or fee.[28] The project is community backed.[15][29]

Pirate Chain is present and active on all major media platforms. Nik Patel, writer and advisor in the cryptocurrency space,[30][31] highlighted:

”More impressive is the genuine and palpable excitement the community has for Pirate Chain; if I’m honest, this community (...) seems to be one of the most engaged I have come across.”[32]

See also

References
  1. "Statistics about ARRR". explorer.pirate.black.
  2. "Pirate Chain (ARRR) Review". Proof Of Review.
  3. "The Ultimate Guide to Small Market Cap Cryptocurrencies (Part 3) – Blockchain SEO". Retrieved 2020-07-22.
  4. "Pirate Chain (ARRR) Review". Proof Of Review. Retrieved 2020-06-11.
  5. "Privacy-Focused & Privacy Centric Blockchains". GBA Global. 2019-11-27. Retrieved 2020-07-22.
  6. "The Best Privacy Coins: Crypto Briefing's Top 10". Crypto Briefing. 2020-04-13. Retrieved 2020-05-22.
  7. "Discord — A New Way to Chat with Friends & Communities". Discord. Retrieved 2020-05-28.
  8. "About Komodo". Komodo. Retrieved 2020-05-28.
  9. "What Should You Expect From A Truly Private Digital Cash? | Hacker Noon". hackernoon.com. Retrieved 2020-06-11.
  10. "Komodo - An Open, Composable Smart Chain Platform". Komodo. Retrieved 2020-05-22.
  11. "PirateChain (ARRR) | Coin Report | An Altcoin Trader's Handbook | Rating: 7/10 | 29th September 2019 - Rating Report - Binance Info". PirateChain (ARRR) | Coin Report | An Altcoin Trader's Handbook | Rating: 7/10 | 29th September 2019 - Rating Report - Binance Info. Retrieved 2020-05-22.
  12. "Timeline". Pirate Chain (ARRR). Retrieved 2020-05-22.
  13. "Why Privacy Coins ? because bitcoin is not a solution anymore". Crypto Core Media. 2020-01-15. Retrieved 2020-07-22.
  14. "6 projects using Komodo technology [KMD]". Crypto Economy. 2019-05-08. Retrieved 2020-05-22.
  15. Bannwarth, Pierre (2020-06-01). "Présentation des meilleurs lowcap 2020/2021". Blockchain Invest (in French). Retrieved 2020-06-10.
  16. "The Pirate Chain ARRR Team | Captains, Crew & Deckhands". PirateChain (ARRR). Retrieved 2020-05-28.
  17. "Members". BPSAA. Retrieved 2020-06-10.
  18. "Pirate Chain joins the Blockchain Privacy, Security & Adoption Alliance". Proof Of Review. 2020-02-12. Retrieved 2020-07-22.
  19. "The Blockchain Privacy, Security & Adoption Alliance". PirateChain (ARRR). 2020-02-12. Retrieved 2020-05-22.
  20. Ago, Lilsziin #privacy • 2 Years (2018-10-14). "Pirate Chain (ARRR) - All about privacy". Steemit. Retrieved 2020-07-22.
  21. "Pirate Chain". Holdex. Retrieved 2020-05-22.
  22. "Pirate Chain Whitepaper" (PDF). www.pirate.black.
  23. McAfee, John (2020-01-05). "Privacy Coins". Retrieved 2020-05-22.
  24. Shvets, Mariya (2020-01-08). "Monero Kurs: Anstieg um 30% - Das könnten die Gründe sein". Decentralbox (in German). Retrieved 2020-06-11.
  25. Foundation, Zcash (2019-06-23). "We commend your work in this area, and the size of the PirateChain anonymity set is awesome!". @ZcashFoundation. Retrieved 2020-05-22.
  26. "Private messaging". www.youtube.com.
  27. "PaperCoins Newsletter: Pirate Chain". The Daily Chain. 2020-02-14. Retrieved 2020-05-22.
  28. "PirateChain (ARRR) - The Anonymous and Private Cryptocurrency". P2PB2B news (in Russian). 2020-01-28. Retrieved 2020-07-22.
  29. "Pirate Chain (ARRR) - Untraceable, Anonymous and Private". Pirate Chain (ARRR). Retrieved 2020-05-22.
  30. "An Altcoin Trader's Handbook". www.goodreads.com. Retrieved 2020-05-28.
  31. "Inside the Mind of a Professional Crypto Trader - Nik Patel". Binance Academy. Retrieved 2020-05-28.
  32. "Coin Report #36: PirateChain". An Altcoin Trader's Blog. 2019-10-03. Retrieved 2020-05-22.

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