What is Pirate Chain?

Pirate Chain (ARRR) is a digital asset that seeks to prioritize user privacy and security. Unlike many other digital assets that provide optional privacy features, Pirate Chain aims to ensure 100% private transactions. It employs zk-SNARKs, a form of zero-knowledge cryptography, to shield all peer-to-peer transactions on the blockchain, thereby creating a highly anonymous and private transaction environment. Pirate Chain is an independent blockchain that is protected against 51% attacks by the delayed Proof of Work (dPoW) mechanism, further enhancing its security features.

How does Pirate Chain work?

Pirate Chain operates by utilizing the power of zk-SNARKs technology to maintain the privacy of transactions. This technology enables the network to validate transactions without disclosing any information about them, thereby preserving user privacy. In addition, Pirate Chain uses the delayed Proof of Work (dPoW) mechanism from Komodo, which adds an extra layer of security. This mechanism notarizes the blocks of Pirate Chain onto both Komodo and Bitcoin blockchains, making it exceedingly difficult for malicious actors to launch a successful attack on the network.

What are the potential use cases for Pirate Chain?

Pirate Chain strives to provide a platform for highly secure and private transactions, making it a potential choice for individuals and businesses that value privacy and security in their financial transactions. Its use of zk-SNARKs technology to shield transactions could make it a preferred option for those seeking to maintain their financial privacy. Moreover, Pirate Chain's support for the TOR network enhances its potential for use in environments where internet censorship or surveillance is a concern. The asset also has potential use cases in e-commerce, as it provides a variety of tools for integration into online stores.

What is the history of Pirate Chain?

Pirate Chain was launched on August 29, 2018, by a group of developers from the Komodo community. These developers aimed to create an independent asset chain that leveraged the technology offered by the Komodo Platform. Pirate Chain combines the 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. The project was launched with a fair launch policy, meaning there was no Initial Coin Offering (ICO), no premine, and no developer fees.