Pirate (/pahy-ruht/; ARRR) is a privacy-focused cryptocurrency forked from Zcash and utilizes zk-SNARK technology (aka “zero-knowledge proofs”) and also allows for use on the TOR network to ensure optimal security. Launched in late August, 2018, Pirate is one of several Komodo asset chains which exist in parallel. Despite the playful name, imagery and community culture, Pirate is serious about it self-appointed role of being a stronghold of privacy.
Using the delayed proof-of-work (DPoW) algorithm afforded to all Komodo asset chains, Pirate is remarkably resistant to double-spend vulnerabilities. The notarization feature of this consensus mechanism pins transaction history to the Bitcoin blockchain, and therefore retains all the benefits of the massive hashpower of that network. This 51% attack protection is especially beneficial to exchanges as they are often the targets that malicious actors pursue when attempting to make off with large sums of digital assets.
Recently having upgraded to the sapling release developed by Zcash, Pirate is now able to enjoy the increased efficiency found when processing “shielded transactions”. In fact, this type of transaction (one of two options when using Zcash) is the default for the Pirate blockchain. This fundamental design choice was chosen to place maximum focus on privacy. Pirate also has the distinction of being the first “sapling only” blockchain.
These design choices were arrived at in response to the potential future-auditability of the Monero blockchain (which utilizes ring-signatures for its privacy feature) while also solving the “fungibility problem” of Zcash. Pirate makes itself attractive by leveraging the simultaneous avoidance of any of its coins becoming “tainted” by associations between past transactions and leaving a trail of information which may compromise its users’ desire to make transactions completely on their own terms.
The Pirate community is a lively bunch who revel in the coin’s persona based on historical maritime vagabonds. The branding of the project extends into the personality of its users and embodies the freedom and autonomy synonymous with life on the open sea. The light-hearted ticker ARRR completes the picture nicely for this gang of fun-loving scalawags, however their foremost objectives of exhibiting friendliness, cooperation and organization are the antithesis of the stereotypical associations one might be led to.
Want to know more, or experience the Pirate community firsthand?
Official website: https://pirate.black/