Pirate Coin | Monero Killer ?
Pirate Coin (a.k.a. Pirate Chain), The fact that Bitcoin was becoming popular among those who advocated a decentralized revolution was not enough to achieve its goals inspiring developers to innovate in the dark.
In terms of data protection, this innovation focused on currencies such as Dash (DASH), Monero (XMR), Zcash (ZEC) and the newest private coin Pirate (ARRR).
You’ve heard of DASH, XMR, and ZEC, but what the fuck is ARRR Coin (Pirate Chain)? After all, this anonymous transaction blockchain tech is only two months old. But don’t mistake its youth for its lack of formidable privacy features.
Pirate Coin ARRR possibly has the most private transaction technology of all privacy coins. Many of us believe that if the government can taint bitcoin it will.
Pirate coin is a true pirates protection currency that takes financial privacy very seriously. Pirate chain is a 100% privacy targeted with no compromises. Pirate chain uses a block privacy protocol that cannot be affected by the activities of other users in the network.
Many similar currencies are interspersed with holes created by optional privacy. Pirate uses zk-snarks (Soon a Sapling only chain) to protect 100% of the p2p transactions in the blockchain, making it very anonymous and private.
Pirate was designed as a property protection currency with Zcash parameters, with a unique base that all transactions are Z -Transactions. In addition, Pirate was created with its own unique asset chain of zk-snarks (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) for data protection and dPoW (delayed proof of work) for security.
The main feature of Pirate crypto is that 100% of the send transactions (outbound) in the chain are Private transactions. The $ARRR cryptocurrency has no option to send a transparent (public viewable) transaction.
Ultimately, Pirate will have a complete group of protected funds. In the simple case, without knowledge, there is no information that someone can analyze or find. Put this all in your blender and the makes #ARRR Coin 100% untraceable.
Pirate could be considered the most anonymous, private and secure cryptocurrency blockchain created to date. The developers who created zcash, on which the pirate coin is based, believe that the best use of the protocol is a chain that only requires private sends only.
Pirate coin is an anonymous currency that uses the zcash algo parameters (zk-snarks) to require private sends only in the blockchain as said earlier. There are no public send transactions on the chain.
This makes Pirate coin, without a doubt, one of the most private cryptocurrencies (IMO — If not… speak up!!) — Join Pirate Discord https://pirate.black/discord/
In addition, Pirate ARRR is backed by the Komodo dPoW, which makes it one of the most unhackable cryptocurrencies, with 51% attack resistance and double-spend protection.
Don't believe me ? Do your Due Diligence and get involved.
zk-snarks Sapling Explained
Many have heard about Zcash’s long-anticipated network upgrade, Sapling, but what the fuck is it?
In a nutshell, it significantly improves the efficiency of shielded transactions and allows for broad adoption of shielded addresses by vendors and exchanges. But how does Sapling accomplish this?
Trusted Setup of Parameter Generation
The foundation of the Zcash protocol relies on zk-SNARKs, a form of zero-knowledge cryptography. This proof allows for private transactions by proving the necessary parameters, such as ownership, without revealing addresses or the amount transacted.
But what do zero-knowledge proofs rely on to construct and verify private transactions? A set of public parameters have been generated twice in the history of Zcash. Both parameters were created in ceremonies, once before the genesis block in 2016 and the second instance in 2018.
These public parameters are the verifying keys for each account. Each parameter holds the verifying signature to create private transactions on the Zcash blockchain.
The underlying question is: What happens if a malicious player during the parameter generation creates false parameters to generate counterfeit Zcash?
Multi-Party Computation Ceremonies (MPC) & The Sprout MPC
The solution to the trusted setup of public parameters is through multi-party computation ceremonies. MPCs allow for independent parties to work together to construct parameters.
Each party verifies the other to ensure that all participants are honest. The only way that the public parameters could be compromised is if all participants are dishonest.
The first set of public parameters were generated during the Sprout MPC. During the Sprout MPC, only six participants were able to join the ceremony. These six individuals each made “toxic waste,” a secret random number. These random numbers collectively create a sample list of numbers to then create public parameters.
To ensure no single user could ever compromise public parameters once they’re generated, all toxic waste is destroyed. Even if one participant destroys their contributed share of toxic waste, no other participant could ever re-generate a new set of parameters due to their randomness.
The ceremony took months to plan and coordinate and required expensive calculations. Considering the network could only handle six participants, an upgraded ceremony needed to go into effect to provide for future parameter generations, such as that for Sapling.
The Powers of Tau & the Sapling MPC
The updated MPC procedure came to be known as the Powers of Tau. The Powers of Tau can scale hundreds to thousands of participants, significantly lowering the plausibility of malicious actors compromising the parameters.
The Sprout MPC saw six participants verifying each other to ensure honesty. The Sapling MPC had 87.
Each of the 87 participants took turns on the network to sample some randomness and perform a calculation. In the example that Zcash gave: “You can think of this process as a bit like shuffling a deck of cards in public. Each participant shuffles the deck, proves that they did not modify or add any of the cards, and then hands the deck to the next participant.”
Each computation is sent to a public transcript to give the community the ability to verify the protocol. Just as with the Sprout MPC, only one participant needs to destroy their toxic waste to ensure the public parameters safety.
What Does Sapling Improve?
The four main improvements are the performance for shielded transactions, decoupled spend authority, improved keys, and efficient wallets with many Z-addresses.
Performance for Shield Addresses
Before Sapling, each address started with zc, known as Sprout-zc addresses because of their introduction during the Sprout release.
With the release of Sapling, users are able to generate completely shielded transactions using the zs address. This new address is called a Sapling address.
This new feature allows for completely private transactions to be made within a few seconds and requires only 40mb of computational memory. Sapling effectively reduces transaction time and memory requirements by a staggering 90-97%
Considering the rapid generation of shield transactions and low requirements, vendors and exchanges are incentivized to adopt shield addresses. This increased use of shield addresses will only help to improve the privacy of the entire network.
Decoupled Spend Authority
In the prior Sprout release, the hardware that constructed the zk-SNARK proof needed to also be in possession of the spending key (parameter).
In the Sapling release, these two are decoupled. The implication of decoupled spend authority allows for integration with hardware wallets.
In the previous Sprout release, shielded addresses support an incoming viewing key. These allow for holders of incoming viewing keys to monitor all incoming transactions. Although they can see the transaction, the sending address remains anonymous and the funds can’t be spent.
Sapling improves upon this by allowing holders of incoming viewing keys to monitor outgoing transactions. Overall, these keys enable users to track incoming and outgoing transactions without exposing private keys or compromising the sender or destination address.
Efficient Wallets With Many z-Addresses
Zcash’s Sapling z-addresses allow for trillions of wallets to simultaneously receive funds without incurring additional costs. Each address is unlinkable to the other because of the nature of zk-SNARKs.
This is meaningful for merchants and z-address users in general because transactions are efficient and lightweight.
Original Article: https://radioarrr.com/what-is-sapling-asks-salty-pirate-captain/
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Could you briefly describe what ARRR is?
Pirate (ARRR) is a zcash fork launched on Komodo. We use ZEC parameters and we are the only other crypto aside from XMR with forced private sends. This creates a privacy protocol that rivals XMR.
To understand, In short, ZEC privacy gets stronger with each z tx and with the largest possible shielded pool of funds. Since ARRR only has private sends possible, this makes the shielded pool on Pirate equal to 99.99% of all funds in existence.
The difference between a transparent blockchain and Piratechain
Blockchain technology is seen as groundbreaking and, according to experts, is supposed to eclipse everything that has existed before.
The blockchain industry is regularly making progress. Everybody tries to realize his ideas and to make the Use-Case suitable for the masses.
The most common use case are the transactions of crypto money. Even if crypto currencies have not yet established themselves on the free market, it will only be a matter of time before Bitcoin, Komodo and Co. are adopted and accepted.
Pirate Chain Migration Essential To Prevent Loss Of Assets
10 February 2019 - In order to prevent a loss of assets, an important Pirate update now requires all holders to convert their coins to a sapling address. Time is of the essence and action must be taken immediately if one has not done so already.
If you have not touched your ARRR for several weeks and months, you must take action immediately to protect your assets. Failure to take prompt action may render your coins worthless as of 15th February 2019 as a result of an update to the main platform.
If you have already migrated your coins to Sapling, you do not need to take any further action at this time. However, if you are reading words like Sprout, Sapling, Deadline, zs-addresses and migration for the first time, or are unfamiliar with the recent update and need to migrate, please read below for more information.
In December 2018, a major update for Pirate was initiated, which in some capacities resembles a fork. That was it, too, except that there was no new coin, but the funds had to move from zc addresses to zs addresses. Zc addresses were the old sprout addresses, while zs addresses are the new sapling addresses. As of 15 February 2019, all addresses in Sprout (zc-addresses) will worthless unless users migrate their existing coins.
However, all owners of ARRR still need to become active by 15th February 2019. Everyone must migrate their ARRR from their sprout address to a newly generated sapling address. The easiest and most convenient way is via the migration tool that does the migration for you, though there are several other ways to migrate your ARRR in Sprout to Sapling.
For assistance or more information, join the Pirate.Black Discord channel at Pirate.Black/Discord. People are standing by ready to assist and to answer any questions you may have. Time is of the essence.
Name: Lootz (Marketing)