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Pirate Chain

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About Pirate Chain

PirateChain Coin Review: Mining Guide, Price & Analysis of PirateChain Cryptocurrency

PirateChain is coin full based on Proof of Work (PoW) that got inaugurated into the market niche in 2018. Brought forth by Zcash Protocol, this coin exists in place majorly for users whose privacy need dominates more as it is a Privacy coin. Its objectives include the provision of an alternative from the usual Privacy coins in the cryptocurrency market.

The Pirate Chain project intends to give an anonymous and private blockchain solution primarily.  This intention's fruition relies heavily on incorporating new technological advancements and integrating them into the system.

PirateChain synoptic insight and gist

As per the official website, these coins, Pirate Chain(ARRR), proves to be a private send currency. The privacy protocol in play helps keep away malicious attacks from users out and within the blockchain.

The user's activities do not interfere with sends in whatever possible way, unlike most privacy coins, which have to put up with loopholes emanating from optional privacy. Pirate Chain utilizes ZK-Snarks to protect 100% of all peer-to-peer transactions carried out on the blockchain; this acquisition of bragging rights of dense anonymity and private transactions.

Currently, most of the adaption to this form of coin heftily takes place around the Darknet market. As we all know, Darknet requires this much amount of shielding, and it seems that Pirate Chain coin addresses it all.

As part of future endeavors, Pirate Chains intends to advocacy this coin as one of the various modes of payment to regular online vending. This blockchain coin is currently integrated into the Word Press and Shopify Plugin. Moreover, in addition to that, one accesses an integration guide. With these integrations, it, therefore, contains seamless flows.

It also possesses a team of software developers who are currently working on coming up with a physical Point of Sale ( PoS). This brilliant move, if realized, will create a whole new application for this coin as users will be able to use it on a retail basis that accepts this form of payment.

Ghostship OS, launched as Pirates Chain's operating system, was launched, making it the first. The main point of focus for this version is a wallet and user security. A USB Linux OS having great degrees of perseverance is required since it's compatibility with the Pirates wallet allows for easy provision on defense within the Pirates Chain network.

This Operating System's min goal is to prevent self-sabotage by users. As for the part of Ghost Ship, wallet data is unavailable, thus doing away with worries of set-up, hence easing the security of new pirates and onboard users.

PirateChain Tokenomics

This Pirates Chain coin's symbol is ARRR. The Genesis block was launched in 2018 and applied an Explorer Block explorer. The mode of consensus is Proof-of-Work. As of the writing time, the circulating supply was 133,394,260 ARRR, with a maximum possible supply of 200,000,000 ARRR. So far, 66.6% of the maximum gross supply has been minted and is undergoing market adoption.

Onto the financials, the current market cap lies at $3,224,086. The daily turnover of $1,808,628 in volume making up 56%. There has been an average price of $0.03 for 30 days. Other trading pairs include; BTC, KMD, USDT, ETH+GIO.

Token distribution

Pirate Chain is a full Proof-of-Work coin; all of the rewards are channeled back into the network. This assimilates Bitcoin structure, thus making it unique among various PoW. Due to privacy, there's the unavailability of a reach list on the official block explorer, thus disabling analyses of circulating supply.

Mining is set to continue for more than two decades until attaining a minimum block reward of 0 ARRR, with a staggering 200 million ARRR. It seems that the second, as projected, arrived on February 23rd this year. Consequently, there will continue an emission drop off to 64 ARRR per block.

The network attains consensus by application of Equihash PoW mining done on the Pirate Cabin blockchain. The hash rate facilitating for this lies at ~310 MSol/s. However, the actual hash rate endures enhancement via Proof-of-Work emanating from the Komodo Blockchain. In the latter, notarization onto the Bitcoin occurs

Team of PirateChain

There is an able team behind this successful venture comprising developers and promotion and marketing, and finally, a creative design team. Iconic members include; Jane Mercer. She is one of Komodo's core top minds after working hand in hand with the ZCash Project. Apart from the mentioned role plays, she acts as an advisor on Veil Foundation Board, another privacy coin.

Next, we have JI777, who served as Komodo's Project lead developer. However, there is no company registration for Pirate Chain. But, this issue is on the address as there lingers an aim to register a foundation. The website lists semi-transparent, real names, user handles, LinkedIn and Twitter account linked to each.

Notably, due to the network's prevalent anonymity, some members find it suitable to withhold their identity, and this is fully understood.

Development

Analyses done on Pirate Chain coin proves that this project has undergone enormous growth, making huge milestones since its debut in 2018. There has been trickling steady incorporation of new brain's and developers who have positively impacted the project.

The development roadmap points out that some complete development incorporations include integrating multiple exchanges with Z- address protocol, integrating a platform for payment, the commencement of Pirate OS and finally updates on the Sapling protocol.

The sources of finances that enable this ingenuity are as follows; Inter-communal fundraising, KMD funds donated towards the Pirate Chain,  The team Notary KMD nodes, the intended Point of Sale, and fees from pools generated by the official Pirate Chai mining pool.

Pirate Chain Vs. Bitcoin

As much as Bitcoin is used as a store for value, it underperforms Pirate Chain in very many aspects. First-hand use of heavy ledgers is one of the faults. This is due to the public display of who one transacts with, the amount transacted, and even the transaction time. PirateChain coin, on the other hand, did away with all these.

Bitcoin consumes a lot of time before confirmations. However, for PirateChain, only a fraction of that time is required. Moreover, BTC possesses a large entry barrier if one opts for mining. PiratesChaiposseses a low entry bar, and one can earn more if one tweet or helps develop the system.

PirateChain Community

As we look at the social composition and social-media handouts, the following was noted; On Discord, it has 3876 members; on Twitter, 3856 followers; Telegram 1242members; Medium 113followers, Reddit 353 followers, and finally 169 followers on Facebook. After using Social Blade (an analysis tool), there has been a tremendous organic growth on social media.

To acquire this coin you can exchange your fiat money in exchanges like Bitfinex and then buy BTC or ETH. Afterwards you can change the digital currencies into PirateChain token.

However, it should be noted that Discord is the primary platform for engagement. Here there lies various channels and daily activities conducted in chat form.

Advantages of PirateChain

• Availability of huge market cap for adoption
• An acceptable form of payment on websites
• Possesses outstanding unparalleled features relative to rivals
• Acceptable by a long-range list of sites that assent ARRR

Disadvantages

• Privacy coins risk regulation
• Not so vast market cap adoption
• No advantage of the first mover

Final verdict

In a nutshell, it seems as if PirateChain has resolved most of the unwanted elements in cryptocurrency. This resolution hence makes it one of the top priorities for anyone opting to join the cryptocurrency community. From developers, developments, tokenomics and deep hawk-eyed analysis, it is then fit for a try.

What People Are Saying About Pirate Chain