Pirate Chain (ARRR) is a full-fledged POW coin launched in August 2018.
It is designed for users who need a private coin using the latest privacy technology based on the Zcash protocol. It aims to provide an alternative to existing privacy coins in the cryptocurrency sector.
What is Pirate Chain?
On August 29, 2018, several developers from the Komodo community launched an independent asset chain with the technology offered by the Komodo Platform. Pirate Chain uses Komodo’s deferred proof of work (dPoW), ZCash’s zero-knowledge transactions (zk-SNARKs), and Monero’s forced private transactions to rule.
While many other private coins have additional privacy features, Pirate (ARRR) claims to be a 100% private cryptocurrency to send. The first blockchain to support only z transactions. ZK-Snarks (Zero-Knowledge Cryptography) technology is used to secure peer-to-peer transactions.
The coin recently made it to the third hundred in terms of capitalization, and the team claims to have created the largest secure private pool of funds of any privacy coin. It seems to be true, as Pirate Chain (ARRR) ranks first in the daily trading volume on the TradeOgre crypto exchange, which specializes in exchanging privacy coins with BTC and ETH.
Pirate is protected from 51% attacks with Komodo’s dPoW, which means that its blocks are notarized on both Komodo and Bitcoin blockchain. Attempts to stage a Sybil against Pirate attack will have to overcome the combined hash rates of the Bitcoin, Komodo, and Pirate Chain networks. The astronomical cost of such an attack will scare off attackers.
Pirate OS
The easy-to-use, secure open-source operating system Pirate OS offers an extra layer of privacy for ARRR wallets. Pirate OS runs from a USB stick as an additional layer of security. It is to protect your wallet from the prying eyes of your commercial operating system.
Pirate OS protects users with VPN and Tor by default, providing maximum security, especially when using crypto-wallets. PirateOS boasts proactive protections such as MAC address spoofing that increase anonymity on local networks. To complete the security package, the PirateOS developers will enable disk encryption.
Pirate OS properties
Rightfulness. An extra layer of privacy to protect transactions from your operating system
Anonymity. The PirateOS operating system can become completely anonymous if you combine it with a VPN service.
Safety. The operating system is devoid of tracking functions and provides the highest security to protect your wallet and funds. User safety is a priority for all technologies using ARRR cryptocurrency.
Ease of use. PirateOS is easy to download and install and burn to a USB stick. Use the new OS to run the wallet.
Created for users. The developers report that they aimed to make downloading, installing, and using the OS as easy as possible.
Pirate Pay
Pirate Pay is a fully decentralized open-source payment gateway that simplifies the online payment process while reducing transaction costs.
As the leading cryptocurrency with the best privacy, Pirate comes closest to cash in terms of anonymity, and also boasts sensible programmed scarcity Bitcoin fiscal policies.
For the first time, the ARRR algorithm allows the use of a cryptocurrency in which it is impossible to find out or track who sent the transaction, how much the transaction costs, and who received it. In addition, no one can see the leftovers on the addresses, and thus the perfect anonymous currency is obtained.
Pirate uses a Proof-of-Work algorithm to ensure the security of the blockchain. Pirate uses Komodo’s deferred Proof of Work algorithm as an additional defense against 51% double-rate attacks. Delayed Proof of Work indexes Pirate blockchain on Komodo and Bitcoin blockchains. At the same time, any attempts to attack the Pirate blockchain will first have to overcome both of these blockchains, which are prohibitively expensive and almost impossible.
Another unique feature of Pirate Chain is the anonymity suite. Pirate was designed to use virtually every transaction to create a set of anonymity. This holistic approach creates an endlessly growing, unapproachable set of anonymity.
Advantages of Pirate Chain Coin
Pirate Chain is rich in security and privacy features made possible by the following factors.
- Independent technology. Independent blockchain protected by delayed proof of work (dPoW) from 51% of attacks
- Completely ready to use. The basics are complete. The project was launched on August 29, 2018.
- Confidential transactions. Only private send transactions are supported. The lack of public mailings makes it the largest pool of secure funds among all projects using ZK-snark.
- Complete anonymity. The TOR network is supported by the Pirate Chain.
- Backlog for the future. Sapling has been updated to open the door to lightweight wallets, mobile wallets, and point of sale (POS) functionality.
- Ecommerce is included. The developers have created various tools to integrate into your online store.
Disadvantages of the Pirate Chain coin
- Investor accreditation restrictions;
- With the advent of anonymous coins, the number of fraudulent attacks and financial frauds increased;
- The backlash from financial regulators;
- It is very difficult to trace transactions with anonymous coins. That is why they can be used for dubious actions from the point of view of the law (for example, terrorist financing). It means that the market prospects for the Pirate Chain in the light of the latest trends are very vague.
