Pirate Chain

Pirate Chain is a decentralised fully private send cryptocurrency. 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]
Valuation
Market cap$4,313,673 (May 2020)[3]

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

On 30 August 2018, 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 using the zk-SNARKs protocol.[13]

Pirate Chain is protected from 51% attacks as the blocks are notarized onto both Komodo and Bitcoin blockchains.[14] 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.[5]

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.[15]

On 12 February 2020, Draeth - captain of the team,[15] announces that Pirate Chain, Sentinel, Ether-1 and Turtle Network form the Blockchain Privacy, Security & Adoption Alliance (BPSAA).[16] The main objective of the alliance is to:

”unite skilful dedicated teams to create value and new innovative solutions”.[17]

Privacy

Pirate Chain is mined into a transparent address, but from this point it can go only into a shielded address.[18] 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][19]

Acknowledgement

In a reply to a Twitter user, John McAfee mentioned Monero and Pirate Chain as the privacy cryptocurrencies he would recommend.[20][21]

Zcash Foundations recognised the size of Pirate Chain anonymity set in another Twitter reply.[22]

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.[23]

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).[24] There was no ICO, IEO, presale, premine, no developers reward or fee. The project is community backed.[14][25]

Pirate Chain is present and active on all major media platforms. Nik Patel, writer and advisor in the cryptocurrency space,[26][27] 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.”[28]

See also

References
  1. Stats
  2. "Pirate Chain (ARRR) price, charts, market cap, and other metrics".
  3. "Pirate Chain (ARRR) price, marketcap, chart, and info". CoinGecko.
  4. "Pirate Chain (ARRR) Review". Proof Of Review. Retrieved 2020-06-11.
  5. "Pirate (ARRR) Price, Charts, Market Cap, Markets, Exchanges, ARRR to USD Calculator | $0.027225". coinpaprika.com. Retrieved 2020-05-25.
  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. "6 projects using Komodo technology [KMD]". Crypto Economy. 2019-05-08. Retrieved 2020-05-22.
  14. Bannwarth, Pierre (2020-06-01). "Présentation des meilleurs lowcap 2020/2021". Blockchain Invest (in French). Retrieved 2020-06-10.
  15. "The Pirate Chain ARRR Team | Captains, Crew & Deckhands". PirateChain (ARRR). Retrieved 2020-05-28.
  16. "Members". BPSAA. Retrieved 2020-06-10.
  17. "The Blockchain Privacy, Security & Adoption Alliance". PirateChain (ARRR). 2020-02-12. Retrieved 2020-05-22.
  18. "Pirate Chain". Holdex. Retrieved 2020-05-22.
  19. "Pirate Chain Whitepaper" (PDF). www.pirate.black.
  20. McAfee, John (2020-01-05). "Privacy Coins". Retrieved 2020-05-22.
  21. Shvets, Mariya (2020-01-08). "Monero Kurs: Anstieg um 30% - Das könnten die Gründe sein". Decentralbox (in German). Retrieved 2020-06-11.
  22. 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.
  23. "Private messaging". www.youtube.com.
  24. "PaperCoins Newsletter: Pirate Chain". The Daily Chain. 2020-02-14. Retrieved 2020-05-22.
  25. "Pirate Chain (ARRR) - Untraceable, Anonymous and Private". Pirate Chain (ARRR). Retrieved 2020-05-22.
  26. "An Altcoin Trader's Handbook". www.goodreads.com. Retrieved 2020-05-28.
  27. "Inside the Mind of a Professional Crypto Trader - Nik Patel". Binance Academy. Retrieved 2020-05-28.
  28. "Coin Report #36: PirateChain". An Altcoin Trader's Blog. 2019-10-03. Retrieved 2020-05-22.

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