Pirate Chain (ETH: $ARRR) is a privacy-focused cryptocurrency based on the Komodo Platform ecosystem.
The project’s developers aimed to create truly private, anonymous transactions on a decentralized blockchain. Pirate Chain incorporated technologies such as Delayed Proof of Work (dPOW), Zero-Knowledge Proof (ZKP), and Enforced Shielded P2P Transactions based on the zk-SNARKs methodology.
Pirate Chain Promises the Best Privacy Features
Many existing privacy coins have optional features to enhance privacy. However, Pirate Chain promises users 100% privacy. It is often touted as being the first Z to Z (shielded transactions-only) chain. To achieve total privacy, Pirate Chain utilizes zero-knowledge cryptography. As a result, the project’s developer team claims it has created the largest private pool of funds of any privacy coin.
Besides the zk-SNARKs protocol, Pirate Chain has also incorporated the TOR Network. Routing transaction data through TOR ensures that all IP addresses and other identifying data are shielded from observers. The result is enhanced privacy and anonymity for all users.
Enhanced Security
Security on Pirate Chain is maintained using the dPOW consensus mechanism adopted from Komodo. With dPOW, the Pirate Chain blocks are notarized onto Komodo and the Bitcoin network. A Sybil attack on Pirate Chain must overcome the hashrates of Bitcoin, Komodo, and the Pirate Chain.
Pirate Chain Benefits
One of the main benefits of Pirate Chain is that a DAO governs all decisions. It ensures all $ARRR holders have a say in the project’s future direction. The Pirate Chain’s $ARRR tokens were launched through a Fair Launch to ensure complete control by the community. It meant there were no ICO or team tokens.
Another benefit of Pirate Chain is fast and low-cost fees, which makes it ideal for daily transactions. It takes seconds to confirm transactions, which makes it an perfect alternative to other crypto tokens.
$ARRR Price Performance and Tokenomics
The $ARRR token has a circulating supply of 196.2M with a maximum supply of 200M. A blockchain halving event is built into the network after every 388,885 blocks, which occurs around every 270 days.
$ARRR first rose to prominence on May 22, 2019, when it was listed on CoinMarketCap. The ERC20 token reached an all-time high of $16.90 on April 24, 2021, before transitioning into a multi-year bearish trend.
$ARRR is currently priced of $0.2643 per token, representing a 98.6% discount from the all-time high. The privacy-focused crypto project still remains popular with its market cap standing strong at $51.8M.
[Click The $AAARÂ Chart Above To View On CoinMarketCap]
Social Media
Pirate Chain has a large social media network. The project has 20.3K followers on Twitter, 3K followers on Facebook, 7,562 members on Telegram, 6.84K subscribers on YouTube, and 4,258 followers on Instagram.
Closing Remarks
The Pirate Chain’s value proposition is undeniable. As government oversight of crypto transactions continues to soar, investor interest in privacy coins like Pirate Chain will likely continue to rise. $ARRR claims to have the highest level of privacy available out of all cryptocurrencies. If this proves true, the price of the $ARRR token could easily see former highs of $10+ in the next few years.
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