Pirate Chain

What is Pirate Chain?

Unlike many other "privacy" coins that offer privacy features as options, Pirate (ARRR) asserts itself as a fully private cryptocurrency for sending funds, proudly claiming to be the pioneer in utilizing 'z transaction-only' blockchain architecture. The utilization of ZK-Snarks technology, which employs zero-knowledge cryptography, ensures the concealment of peer-to-peer transactions. The team behind Pirate emphasizes that this approach has established the most extensive pool of shielded private funds compared to any other privacy coin.

To safeguard against 51% attacks, Pirate leverages Komodo's dPoW mechanism, which involves notarizing its blocks on both the Komodo and Bitcoin blockchains. Any attempt to launch a Sybil attack against Pirate would require overcoming the combined computing power of Bitcoin, Komodo, and Pirate networks. This presents a prohibitively high cost that serves as a deterrent to malicious actors. Pirate's journey began with a just launch, devoid of ICOs, pre-mining, or developer fees.

In the context of ARRR, every detail pertaining to a transaction, including sender and receiver addresses, transaction amount, and transaction ID, remains entirely shielded from public exposure. Only the sender and receiver possess access to this information, with the ability to voluntarily breach privacy by disclosing the transaction ID as evidence of the transaction, if they opt to do so. Consequently, Pirate Chain disrupts the privacy landscape by allowing users to exercise control over their privacy, effectively placing the power of choice back into their hands.

---

Recent Video Interview

Main points of the interview:

• Exchanges will see significant improvements in performance, with a 90% increase in sync speed noted in tests.
• New rules prevent transaction spamming by keeping track of every spend proof and output proof.
• Introduced the ability to sign transactions on an air-gapped machine, enhancing security.
• VAR (VARRR) blockchain launch discussed, with test net ongoing and expected soon.

---

Some Disadvantages of Pirate Chain

Limited Recognition: A notable drawback of Pirate Chain lies in its relative obscurity and limited acceptance within the broader market. While the count of merchants embracing ARRR as a means of payment is expanding, it remains a minor fraction compared to more established cryptocurrencies like Bitcoin or Ethereum.

Scarce Market Availability: The coin's liquidity is also constrained due to the limited number of exchanges accommodating ARRR. This can translate into challenges when attempting to swiftly buy or sell ARRR, potentially resulting in substantial price fluctuations.

Security Vulnerability: Similar to any cryptocurrency, the risk of hacking and theft exists. Despite Pirate Chain's enhanced security design, no system is entirely impervious to cyber threats.

Technical Complexity: Pirate Chain's technology is more intricate than that of other cryptocurrencies, potentially posing comprehension and adoption difficulties for certain users. This complexity could curtail the coin's potential user base and broader adoption.

Uncertainty in Regulation: Inherent to all cryptocurrencies, regulatory ambiguity is a concern. Governments worldwide are grappling with the regulation of cryptocurrencies, introducing the possibility of legal changes that might impact the value and adoption of Pirate Chain.

Pirate Chain Team Background

On August 29, 2018, a group of developers from the Komodo community initiated an independent asset chain using the technology provided by the Komodo Platform. The creation known as Pirate Chain makes use of various technologies: Delayed Proof of Work (dPoW) from Komodo, zero-knowledge proofs (zk-SNARKs) for transactions from ZCash, and the concept of exclusively private transactions inspired by Monero.

Pirate Chain Project Development

These are Pirate Chain's goals for 2023:

• Investigating the implementation of Halo 2
• Exploring multisig capabilities
• Researching trustless setup methods
• Studying post-quantum encryption techniques
• Undertaking a rebranding of the website
• Developing an in-house wARRR bridge
• Advancing the PirateDEX project

Pirate Chain Price Analysis

As of November 24 2024 Pirate Chain has a marketcap of $75M. This is {{percentagefromath}} from its all time high of $16.76. In terms of its tokenomics, there's a total supply of 200M with 98% currently outstanding. Keep in mind Pirate Chain has a fully diluted value of $77M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.