Article Summary, Automatically Generated By AI
About Pirate Chain
- Launched on 29 August 2018 by Komodo community developers
- Utilizes Delayed Proof of Work (dPoW) from Komodo, zk-SNARKs from ZCash, and enforced private-only transactions from Monero
- 100% private send cryptocurrency with z transaction-only chain
- ZK-Snarks technology shields peer-to-peer transactions
- Largest shielded private pool of funds among privacy coins
- Protected from 51% attacks by Komodo’s dPoW, notarized on Komodo and Litecoin blockchains
- Resistant to Sybil attacks due to combined hashrates of Bitcoin, Komodo, and Pirate</li
Introducing Pirate Chain: The Pioneering Privacy-Centric Cryptocurrency
On August 29, 2018, a group of visionary developers from the Komodo community successfully launched an independent asset chain, leveraging the innovative technology offered by the Komodo Platform. Notably, Pirate Chain integrates the Delayed Proof of Work (dPoW) consensus mechanism from Komodo, the cutting-edge zero-knowledge proof (zk-SNARKs) transactions pioneered by ZCash, and the stringent rule of enforced private-only transactions inspired by Monero.
Notably, Pirate (ARRR) distinguishes itself from other “privacy” coins by boasting 100% private send capabilities, as well as being the pioneering “z transaction-only” chain. By leveraging ZK-Snarks technology, a cutting-edge zero-knowledge cryptography, the platform ensures that peer-to-peer transactions remain impervious to scrutiny. According to the team, this innovative approach has given rise to the largest shielded private pool of funds among all privacy coins.
Pirate is safeguarded against 51% attacks by leveraging Komodo’s decentralized proof of work (dPoW), which notarizes its blocks onto both the Komodo and Litecoin blockchains. Any attempts to launch a Sybil attack against Pirate would necessitate overcoming the collective hashrates of Bitcoin, Komodo, and Pirate, a feat that would entail an astronomical cost, thereby deterring malicious actors. Notably, Pirate’s inception was characterized by a fair launch, devoid of an initial coin offering (ICO), premine, and developer fees.