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Pirate Chain

Pirate Chain is a comprehensive privacy-centered cryptocurrency. It uses a privacy protocol that cannot be compromised by other users on the network. Pirate Chain uses ZK-Snarks to shield 100% of the peer-to-peer transactions on the blockchain making for highly anonymous and private transactions.[1] 

Overview

On 29 August 2018, several developers from the Komodo community piloted an independent asset chain with the technology offered by Komodo Platform. Pirate Chain harnesses Delayed Proof-of-work (dPoW) from Komodo, zero-knowledge proof (zk-SNARKs) transactions from Zcash, and the rule of enforced private-only transactions by Monero.[2]

Pirate (ARRR) projects itself as a 100% private send cryptocurrency, as well as the first 'z transaction-only' chain. ZK-Snarks technology (zero-knowledge cryptography) is utilized to shield peer to peer transactions.[3]

Pirate is protected from 51% attacks by utilizing Komodo’s dPoW, this reveals that its blocks are notarized onto both Komodo and Bitcoin blockchains.[1]

Attempts to mount a Sybil attack against Pirate would have to overcome the combined hashrates of Bitcoin, Komodo (Cryptocurrency), and Pirate. This is an astronomical cost that would deter malicious actors. Pirate started with a fair launch - no ICO, premine, and 0 dev fees.[2] 

Features

Pirate Chain is feature complete and ready for further community development . Some of its unique features include:

  • Independent technology

  • Ready to use

  • private transactions

  • total anonymity ( TOR (anonymity network) supported)

  • Future proof

The developers who created zcash, which Pirate Chain is based on, are of the opinion that:

the best use of the protocol is a chain that requires private sends only. Delayed Proof of Work (dPoW) protects Pirate’s blockchain from damage against double spends and 51% attacks by attaching a backup of the ARRR chain to the Bitcoin Blockchain.

In order have a 51% attack on Pirate, you would have to first 51% attack Bitcoin. This makes security against double spends and hostile takeovers nearly impossible if not impossible altogether.[3] 

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Pirate Chain

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