Well, how to start? I’ve made a lifetime decision; I’ve decided to quit my job and become... a pirate!
It wasn’t easy to make a step like that, and it will demand a lot of sacrifice from my side; however, I haven't informed my wife and kids about that. I wonder what their reaction will be.
How to start: I suppose I won’t be able to travel to Somalia’s coasts and join the local pirates; I don’t even know how to sail.
I think, at first, I needed to learn how to speak in a pirate's way. As a child, I remember their battle roar, which they used during the fight. Of course, in cartoons and movies, I’d never met any alive.
I got to google this sound...
It was ARRR!
And I found the ARRR coin, the real subject of this post. The little opening above was just to build additional tension.
So let us take a closer look:
ARR coin
At the beginning, there is some information from coinmarketcap:
Market cap: $33,571,474
Circulating supply: 196,213,798 ARRR
Total supply: 196,213,798 ARRR
Max. Supply: 200,000,000 ARRR
Fully diluted market cap: $34,157,872 (98%)
Price: $0.1705 (24.10.2023)
As we can see, most of the coins were mined (POW) and put into circulation; unfortunately, I’m not very familiar with the decentralization of minted coins.
The token is listed on some CEXes: Changely, Changely PRO, Gate.io, Coinex, and DEXes: Uniswap, TURTLEDEX, POLARITY, BDTex, or Pancakeswap (wARRR).
As I can read on the project site, the ARRR coin is designed to be the most private and secure digital currency.
It is probably the first cryptocurrency to adopt zk-SNARKS (zero knowledge-succinct non-interactive argument of knowledge) as a required, private-only usage. Zk-SNARKs is a zero-knowledge proof mechanism that enables one party to demonstrate to another that a claim is accurate without disclosing any information outside the claim's accuracy. Additionally, these proofs are "succinct" and can be checked in a matter of milliseconds. Industry-wide, Zk-SNARKs is acknowledged as the most effective privacy protocol.
The same blockchain, the Pirate Chain, was introduced in 2018 with the main objective of being the most secure and private digital money and aims to safeguard the financial privacy of every user worldwide. This feature is achieved by combining the strongest and most well-known privacy protocol in the market with an impregnable strategic implementation.
Privacy Blockchain
The sender address, transaction amount, recipient address, and transaction ID are all never made available to the public. Only the sender and recipient have access to this information, and they still have the option to waive their right to privacy by disclosing the transaction ID as evidence of the transaction, if they so choose. As a result, the Pirate Chain upends the privacy business and gives users the power of privacy back by giving them the choice to opt out.
All transactions are by default z-transactions only, and all ARRR addresses are by default shielded z-addresses only. This implies that only the user can see the balances associated with each address. The transactions cannot be followed because there is no evidence of them outside of the user's wallet. With incorporated Tor network compatibility, total privacy is further safeguarded down to the user's IP address.
And although I’m not very familiar with that technology, I think there is something else worth mentioning: the anonymity set. Pirate was designed to use virtually every transaction to build the anonymity set. This all-inclusive approach creates an infinitely growing, impregnable anonymity set. The anonymity set can be followed “live” here, https://anonset.dexstats.info/
The blockchain also has an interesting solution for defense against 51% attacks; it is backed by two other blockchains: Komodo and Litecoin.
And, besides, there is something more...
The project shows that it has a pretty well-developed ecosystem and community.
It has its own kind of market site called ARRRmada that gathers merchants' communities accepting payments in ARRRcoins; it also has a payment gateway named PiratePay.
They also work on creating the Piratechain security wallet, although there are some more backing the coin: Treasure Chest, Skull Island, Seven Seas, and Pirate Ocean.
The Piratechain team publishes their newsletter, which contains quite a comprehensive and interesting blog on their site.
The community is present on various kinds of social media, including:
· Twitter – https://twitter.com/PirateChain
· Odysee – https://odysee.com/@piratechain:8
· Flote – https://flote.app/pirate
· Medium – https://medium.com/piratechain
· Youtube – https://www.youtube.com/c/piratechain
· LinkedIn – https://www.linkedin.com/company/piratechain
· Reddit – https://www.reddit.com/r/piratechain
· Telegram ANN – https://t.me/piratechainAnnouncements
· Twitch – https://www.twitch.tv/piratechain
· Tik Tok – https://www.tiktok.com/@pirateblockchain
· Instagram – https://www.instagram.com/piratechain/
· Facebook Group – https://www.facebook.com/groups/piratechainofficial/
· Pinterest – https://www.pinterest.co.uk/piratechain/
And many more.
There is a fine video describing this project:
Conclusion and disclaimer
Despite the fact that I don’t have much knowledge about privacy coins and am only familiar with Monero and Dashcoin, this project looks quite interesting, and in my opinion, it is worth taking a closer look into it.
I am not connected to that project in any way, and I didn’t know about its exist until yesterday, while I was preparing material for my previous post (https://www.bulbapp.io/p/2de4200e-90c9-405b-838a-56212cf99464/the-spooky-coins-happy-halloween
It isn’t sponsored content, and I don’t think that any person linked to that project is aware of my existing content as well.
Disclaimer!
Under no circumstances is it investment advice.
Believe me, I’d be the worst financial advisor you’ve ever met. This post is
published for entertainment or educational purposes.
