Ten Reasons To Own Pirate Chain

Ten Reasons To Own Pirate Chain

There are many compelling reasons why Pirate Chain is superior to other privacy coins!

100% Private – Pirate Chain’s protocol utilizes the latest and most effective privacy tech available today

Pirate Chain’s zero-knowledge proofs (zkSNARKS) are today's latest and most advanced privacy technology. Developers can secure their applications, smart contracts, and transactions with zkSNARKS without sacrificing trust or security. Zero-knowledge proofs allow for complete anonymity while preserving all of the functionality of a blockchain. This technology has been used in many other privacy coins, such as ZEC (Zcash) and XMR (Monero).

Trustless – no need to trust anyone to keep your transactions private; the network does it for you.

Pirate Chain is a trustless network, which means there is no need to trust anyone or any central authority. You do not need to trust a third party like PayPal or Visa, nor do you need to put your faith in a corporation like Facebook or Twitter. If you own some Bitcoin (BTC), you can send that BTC over the internet and onto Pirate Chain without any middlemen.

For example, suppose Alice sends 1 dollar worth of BTC to Bob using an exchange service like Poloniex or Coinbase before transferring it over the internet onto Pirate Chain, where Bob owns his node and has full control over all of his coins. Now let’s imagine that Alice wants to send another dollar worth of BTC from her wallet back onto Poloniex so she can buy more altcoins with it later down the road when prices have gone up again… but wait! There are no more funds left inside her wallet because she used them all earlier when she first sent it earlier today. Instead, now she needs access to that account somehow without having access anymore due to security reasons!

Pure & Simple – a simple, pure definition of privacy with no “selective transparency” or potential for audit by corporations or governments

Pirate Chain is 100% private. We are the only cryptocurrency to offer untraceable and unlinkable means of transacting. Trusting anyone with your data is unnecessary because the network does it for you. No one can see who sent or received tokens on Pirate Chain, and no one can know how much money was exchanged. Everything stays private as long as it needs to be kept that way while remaining open enough that anyone can confirm what they see in their wallet balance using an explorer website or by viewing a transaction log (which shows each transaction but not any other personal information).

Staking Rewards – stake ARRR and earn rewards while securing the chain

Staking rewards are paid out in ARRR

There is a time-based staking reward, where you earn up to 0.5% of your total stake for holding your coins for each staking window. The longer you stake, the higher your rewards! Stake Libras Coins to earn more Libras Coins or Bitcoin to gain more Bitcoin!

Libras Coin Support – Pirate Chain has integrated Libras Coin support which will enable transactions between LBC and ARRR holders on a decentralized exchange

You can use Libras Coin (LBC) to pay for ARRR on a decentralized exchange. You can also use ARRR to pay for LBC on this decentralized exchange. This means you can trade ARRR and LBC side-by-side, which is cool!

If you’re feeling adventurous, you can use your coins in person too; send them over and have the recipient receive them directly into their wallet.

Ultra Secure – immune to 51% mining attacks, quantum computing advances, and other threats to Bitcoin.

Pirate Chain is immune to 51% mining attacks and quantum computing advances that would allow Bitcoin to be exploited.

  • Pirate Chain is the first blockchain that rewards users who add hash power to its blockchain. If you own Pirate Chain, your coins will be worth more than those of other cryptocurrencies because they're harder to mine and are much less likely to be compromised.
  • Proof-of-stake consensus allows for a lower carbon footprint than proof-of-work blockchains like Bitcoin while still providing security and versatility.

GPU Mining – unlike other privacy coins, ARRR uses ASIC-resistant algorithm zkSNARKS Sapling to secure the blockchain

zkSNARKS Sapling is ASIC resistant and uses a proof of work algorithm that does not require high-end computers or expensive GPUs to mine. This means anyone can participate in the mining process on their home computer, leading to a massive community of miners built around the Pirate Chain.

The decentralized nature of the network allows it to be resilient against censorship and attack attempts. In addition, our innovative Proof-of-Stake system provides additional security by making it impossible for any one party (or group) to take control over 51%+ of our coin supply.

Finally, we have implemented ZK-Snarks Sapling into all blocks and into our user interface – this means users can send funds through private messages!

No ICO Funds – the team is not paid from ICO funds. ARRR was 100% funded by community donations.

You may think, “There are already so many blockchain projects out there. Why would I want to own Pirate Chain?”

Well, we have a few reasons for you:

  • ARRR was 100% funded by community donations. There was no ICO or corporate or government influence over its development process. This means that it's completely decentralized and will always remain that way! Unlike other coins in the space that were created with corporate interests in mind (and ended up being controlled by those interests), this project was built entirely without any need for outside funding or influence—and because of this, it is uniquely resistant against inflationary pressures from governments or corporations who might try to shut down cryptocurrencies like Bitcoin as they did back in 2017 when China tried banning crypto trading altogether…

Anonymous Team – anonymous team won’t face government pressure to weaken their coin as other projects have done.

The anonymous team is why Pirate Chain will be the most successful cryptocurrency in 2019.

  • They won’t face government pressure to weaken their coin as other projects have done. Examples of this include:
  • Monero and ZCash were accused by FinCEN (Financial Crimes Enforcement Network) of being used for money laundering. These projects had no choice but to comply with FinCEN’s request or risk being shut down entirely by regulators.

Multi-platform Wallet Support – Ledger Nano S hardware wallet support, multi-sig wallets, hardware wallets, Tor Darknet & Linux daemon wallets.

  • Ledger Nano S hardware wallet supports
  • multi-sig wallets
  • hardware wallets
  • Tor Darknet & Linux daemon wallets.

There are many compelling reasons why Pirate Chain is superior to other privacy coins!

There are so many compelling reasons why Pirate Chain is superior to other privacy coins!

  • ARRR is more secure than other privacy coins. Other privacy coins use private key generation and transactions, but we've taken it further with our unique Cold Staking Protocol. This makes your coins safer than ever before!
  • ARRR is more private than other privacy coins. Our advanced security measures ensure that nobody can see how much money you have in your wallet or even where the wallet address came from. You can rest assured that when you send and receive money through ARRR's wallets, nobody will be able to track down who sent it and where it went next—that's what makes us different from other cryptos out there!

Conclusion

We’re proud that Pirate Chain is the first privacy coin to use Sapling zkSNARKS. This makes us more secure than other coins, including our competitors, such as Monero and ZCash. We also have a unique mining protocol that allows GPU miners to mine ARRR on desktop computers instead of ASIC machines.

What are Privacy Coins

What are Privacy Coins

Privacy coins have always been around, but they're back in the news after several high-profile hacks and data breaches. Privacy coins are cryptocurrencies that aim to protect users' financial information. They do this by allowing you to send and receive money anonymously (or at least pseudonymously), which means third parties—such as banks or credit card companies—can't track your spending habits like they can with regular currencies like USD or EURO. But what exactly is a privacy coin? How does it work? And why should you care about protecting your financial privacy? In this article, we'll explore these questions and more!

What are privacy coins?

If you're familiar with cryptocurrencies, you've probably heard of Bitcoin and Ethereum. These two coins are the most popular for their transaction speed and ability to break down barriers between countries. But another type of coin is gaining popularity these days among those looking to buy and sell drugs or other illegal goods: privacy coins.

These coins use advanced cryptography to ensure that transactions are anonymous—or at least harder to trace than without encryption. Because the transactions aren't publicly available, authorities can take a lot longer to track down criminals using these coins as payment methods. Privacy coins also offer increased security against hacking attacks compared with standard cryptocurrencies because they don't store information about users' identities on centralized servers (and thus outside hackers' reach).

History of privacy coins

Privacy coins were created to provide financial privacy to users. They are used by people who want to stay anonymous, such as those using privacy coins for illegal purposes or simply those who prefer not to monitor their transactions by governments or other institutions.

The history of privacy coins began with the creation of Bitcoin in 2008, which made it possible for anyone in the world with Internet access and money (known as “cryptocurrency”) could buy and sell goods online without having their identity revealed.

Bitcoin, a pseudo-anonymous coin

Bitcoin is a pseudo-anonymous coin. This means that while some details of your identity are known to others, they're not linked to your real-world identity.

Bitcoin addresses are not linked to real-world identities because they don't use names or other identifying information. Instead, you get a private key that controls how much bitcoin is sent from an address. When using this key, you can sign transactions without revealing personal information about yourself to the network; all the network sees is that you want to move funds to another address. Suppose someone wants to track down who owns an address (which would be unfeasible). In that case, they'd have to find out which computer was being used and then somehow determine which person was using it based on their IP address or other identifying factors (like geolocation).

How do privacy coins work?

Privacy coins are a new type of cryptocurrency that focuses on keeping your transactions secret. This article will explain what privacy coins are and how they work.

A regular coin is like any other one you have in your pocket or purse. You can spend it anywhere you want, and nobody will ever know where your money came from or went to — unless they're paying attention!

Privacy coins work differently because they use special cryptography techniques to keep everyone's transactions secret. This means that nobody can see who paid whom, how much in what period, and with which amount of money (or other currency).

Different methods of obfuscation

You may have heard of zero-knowledge proofs, but you might not know how they work. Zk-SNARK stands for “zero-knowledge Succinct Non-interactive Arguments of Knowledge.” They're a type of proof that can prove that a statement is true without revealing any information about the word itself.

If you've ever played with cryptography before, you know that hashing functions are one way to protect data by creating an algorithmically complex string from an input message. With zk-SNARKs, instead of using a hash function and getting back some unintelligible string, they use a hash function and get back an easy-to-read proof that together looks like this:

“`pow(y || 0xCC7D8F1BE2DF5633D3984C4B3C9E185EF952A94B4B83F0AE00AA8CABA481318)==0xCF36AFAFD9D60666A0C6519BB2534CC0566CE006EE38966443AFEBFCDB5AC“`

Zcash (ZEC) and its zero-knowledge proofs

Zcash is a privacy coin. Unlike Bitcoin, Zcash uses the zero-knowledge proof called zk-SNARKs to protect the sender, receiver, and transaction amount.

Here's how it works: A Zcash transaction consists of two parts: an encrypted piece (the “shielded” input) and an unencrypted piece (the “transparent” output). The transparent outcome reveals information about where you're sending your money but not what you're sending or who you're sending it to; the shielded input contains details about who received your funds without revealing their identities or any other information about them.

Monero (XMR) and its ring signatures

Monero is a privacy coin that uses ring signatures to obscure the sender's address. Ring signatures are a type of digital signature that can be used in cryptocurrency transactions to conceal the transaction's sender.

Think of it like this: When you send someone an email, you don't want anyone else reading over your shoulder while typing out your message. The same principle applies to cryptocurrency—you don't want other people to see what you're sending or receiving. Monero uses ring signatures to obscure who exactly sent/received funds during transactions on their blockchain and mask where those funds came from in the first place!

Grin (GRIN) and its mimblewimble scheme

Mimblewimble is a confidential blockchain scheme. It was created by an anonymous person, nicknamed Tom Elvis Jedusor (Voldemort's real name in the French version of Harry Potter), who posted its white paper on Reddit. As you might know, the name mimblewimble comes from a tongue-tying curse used by witches and wizards in J.K Rowling’s Harry Potter series. The term mimblewimble was later adopted by developers to describe this type of blockchain protocol and became so popular that people started calling it just Mimblewimble instead of mimblewimb-something (which sounds weird).

The main idea behind Mimblewimble is that transactions should be as private as possible while maintaining a high level of security using cryptography algorithms such as Elliptic Curve Cryptography(ECC). When ECC is combined with Confidential Transactions (CT), then it becomes possible for users to hide the amount they spend on particular transactions while still providing proof that they own all their coins at all times without having them revealed publicly on their blockchain ledger, which could compromise their privacy if someone else gets access to it somehow (e.g., through hacking).

Dash (DASH) and its PrivateSend system

Dash

Dash is a cryptocurrency that Evan Duffield developed in 2014. It allows users to send funds anonymously, which is done through its PrivateSend feature. In this system, transactions are mixed and made untraceable by master nodes (particular nodes that perform certain functions on the network). These masternodes are servers to verify transactions and allow them in or out of the blockchain.

Beam (BEAM) and its mimblewimble scheme

In the crypto world, privacy coins are a big deal. Cryptocurrencies allow users to protect their transactions from being tracked on a public ledger. This will enable them to trade currencies without worrying about their financial details being exposed or shared with third parties. The most common way for these currencies to achieve this is by using the zerocash protocol, created by Johns Hopkins cryptography professor Matthew Green and then implemented in Zcash (ZEC).

To understand Beam (BEAM), we first need to know what it is and how it works:

Trading privacy coins

  • Get a privacy coin. You can buy it on an exchange or trade for it using other cryptocurrencies.
  • If you're buying with fiat currency (USD), you must use a credit card or a bank account to purchase your private coins.

Takeaway. If you value your financial privacy, consider using a privacy coin.

Privacy coins are a great way to protect your financial privacy. They're also an excellent way to protect your identity, especially if you're worried about hackers stealing personal data from companies like Facebook, Google, and Twitter. However, privacy coins are not new concepts; they've been around for decades. And they aren't going away anytime soon. Some experts say privacy coins will become even more popular over time as cryptocurrencies gain popularity and people become more aware of their importance in keeping personal information safe from third parties who may want it for nefarious purposes.

A privacy coin is any cryptocurrency that has been designed with the specific goal of protecting users' identities by giving them complete control over their finances at all times while also ensuring there's no traceable record connecting them directly back through the blockchain where all transactions take place when using these currencies online (or offline).

Conclusion

We hope this article has helped you understand privacy coins and how they work. The need for privacy is growing as the world becomes increasingly digital, and protecting your personal information will be key to many different types of transactions in the future.

Our Favorite privacy Coins: Pirate Chain, Monero 

Learn More:

Reasons to own Pirate Chian

Reasons To Own Monero