In today’s digital world, privacy is a really scarce commodity, thanks to the large amount of data collected by every website visited or the apps they use. As companies continue to monetize user data, collecting and sharing it, they also expose users to various cyber threats posed by hackers as well as governments who seek to monitor every movement of their citizens.
Internet users have always been exposed to the risk of their private and financial data being compromised and used for malicious purposes. In such scenario, the need for a secure payment system is one of the many requirements. Bitcoin and other cryptocurrencies offered a somewhat secure payment method, but some of them are pseudonymous or partially anonymous at best. It has been proven time and time again that on-chain transaction data, along with other parameters, can be used to identify parties to a transaction with considerable precision.
Pirate chain as answer
Launched in 2018, Pirate Chain is considered the most private and secure cryptocurrency that implements a cutting-edge privacy protocol based on a solid strategy. Using Pirate Chain’s native ARRR cryptocurrency for transactions ensures full privacy and security by default, which is not yet offered by any other privacy-focused cryptocurrency.
To achieve complete privacy, Pirate Chain uses a well-known and proven cryptographic protocol called zk-SNARKs. It builds on the work of the ZCash Equihash consensus algorithm and protects against 51% of attacks using Komodo’s delayed proof-of-work technology with additional notarization on the Litecoin chain. The implementation of the default privacy features is completely opposed to other zk-SNARK based privacy coins that allow users to protect their transactions on demand. On Pirate Chain, all transactions are protected and visible only to the sender and receiver of the ARRR, with an option to remove confidentiality through the explicit transaction ID post action. Additionally, Pirate Chain protects any other identifiable information like users’ IP addresses by using a built-in Tor network.
An option hard to ignore
Pirate Chain has come a long way over the past two years to create a full-fledged cryptocurrency ecosystem. Using the latest Sapling MPC upgrade from zk-SNARK streamlines all ARRR transactions without compromising privacy. In addition, it makes ARRR compatible with point of sale (PoS) systems, hardware wallets and mobile wallets powered by simple payment verification (z-SPV). ARRR is also listed on some of the major exchanges and many companies have already started accepting Pirate Chain cryptocurrency as a method of payment.
Today, with ARRR, users can expect to execute completely private and anonymous transactions. A luxury that guarantees peace of mind by ensuring that their personal and financial information is not within the reach of those who plan to make a quick buck or those who snoop around under the guise of protecting the interests of a community. or a country just because they can.
Learn more about Pirate Chain and ARRR on – https://pirate.black/