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What Is Pirate Chain and How to Exchange ARRR at the Best Rates?

What Is Pirate Chain and How to Exchange ARRR at the Best Rates?
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Ahoy, Pirates! At this point, you are probably familiar with Satoshi Nakamoto’s desire to make Bitcoin private and anonymous. In reality, though, Bitcoin is somehow anonymous because the identities of people or corporations using it aren’t recorded anywhere within Bitcoin’s protocol. However, Bitcoin isn’t as anonymous as you may think. This is because every Bitcoin transaction is visible and recorded on the blockchain or public distributed ledger.

Therefore, wallet balances can be linked back to identities as they are visible to anyone who wants to look. Because most institutions today require KYC and AML verification, it’s very easy to find the identities of people behind their coins. This flaw has resulted in the rise of privacy coins such as the Pirate Chain, which seeks to introduce privacy back into the system. In this article, we’ll take a look at the $ARRR coin, what makes it unique, and how you can get it on Swapzone.

What Is Pirate Chain and How to Exchange ARRR at the Best Rates?

What is Pirate Chain Coin?

Pirate Chain is a privacy-focused crypto built on the strongest privacy protocol in the world today. It utilizes a combination of the best technologies from different platforms such as the Delayed Proof-of-Work (DPoW) protocol from Komodo, zero knowledge-succinct non-interactive argument of recursive knowledge (zkSNARK) from ZCash, and the rule of enforced private-only transactions used by Monero. Unlike other coins that offer optional privacy, $ARRR crypto has 100% privacy by shielding every transaction. Why does this make them absolutely private and anonymous? To understand that we need to review how ZCash is a poor choice for privacy. You see, blockchain is all about tracking the transactions, with ZCash, less than 1% of transactions are private because users don’t know how to use the private mode or they are too lazy to do so. As such CipherTrace publicly demonstrated the tracking of private transactions by analyzing data from the non-private ones. As all transactions on Pirate Chain are private, there is no public data to be analysed.

Pirate Chain utilizes Komodo’s DPoW which is notarized onto both the Litecoin and Komodo blockchains. Therefore, any attempt by a malicious actor to conduct a Sybil attack against the $ARRR blockchain would require the actor to overcome the hashrates of Pirate, Komodo, and Litecoin. To succeed in such an attack would require an astronomical cost that’s nearly impossible.

What is Pirate Chain Coin?

Who are the Founders of $ARRR?

The Pirate Chain cryptocurrency was initially launched in August 2018 by a number of developers from the Komodo blockchain community. They utilized the Discord messaging platform. So far, more than 100 contributors have worked on the Pirate Chain project since its launch to help the project grow and develop. The majority of these contributors have helped by providing coding, marketing, partnership development among other skills. Working in a team-fashion manner, these people contributed all sorts of knowledge and experience to the project.

Who are the Founders of ARRR?

What Makes Pirate Chain Unique?

As reiterated earlier, Pirate Chain offers 100% privacy features. Other privacy coins in the same industry offer optional privacy features. Unlike them, $ARRR uses the zk-SNARKS (Zero Knowledge Succinct Non-Interactive Argument of Knowledge) protocol. What this protocol does is allow one party to prove to another that a statement is true without having to reveal any information concerning the statement. That is why the name is “zero-knowledge proof.” These proofs can be verified in a matter of milliseconds.

All information about the transaction such as the sender’s address, the transaction amount, the address of the receiver, and the transaction ID is never revealed. This information is only available to both the sender and the receiver. And, they both have the power of choice to opt-out of privacy by revealing the transaction ID as proof of transaction. In essence, it brings or sets the power of privacy back into the hands of the users by empowering them with the option to opt out.

What Makes Pirate Chain Unique?

$ARRR vs $XMR

Below are some of the major differences between Pirate Chain and Monero being a mastodon in the world of privacy coins.

 

Pirate Chain

Monero

Ticker/ symbol

ARRR

XMR

Launch date

29 August 2018

April 2014

Founders

Anonymous community of developers and well-wishers

An anonymous team(s) going by the name “Nicolas van Saberhagen”

Consensus

Delayed Proof-of-Work (DPoW)

RandomX

Block size

Unknown

68.115 KBytes

Block time

~60 sec

~120 sec

Block reward

32

1.04

Price

$2.19

$224.23

Market cap

$410,144,561

$4,031,301,441

Total supply

187,087,164

17,999,990

Max supply

200,000,000

Unlimited

 Perspectives of $ARRR

When Pirate Chain first entered the cryptocurrency market, it was not as popular as it is right now. Therefore, its price stayed relatively low until August 2020 when it first rose above the $0.1 threshold. However, it didn’t retain this position for too long. On April 23rd 2021, its price shot up to $16.90. It has dropped since then and has been trading just above the $2 mark. Despite the performance, a lot of forecasting services predict that the price of $ARRR will rise if it becomes more mainstream and adopted over alternative privacy cryptos.

 Perspectives of ARRR

Some of these popular price predictions include:

  • WalletInvestor

WalletInvestor predicts that the price of $ARRR will rise to $6.896 within a year. If this happens, then the long-term earning potential is around 188.78%. Their price prediction for the end of 2026 is $24.030.

  • DigitalCoin

DigitalCoin predicts that the price of $ARRR will rise to $12.6195426 within the next 5 years. It expects a price of $4.7061138 by 2022 with continued growth into the years 2023 and 2024. Therefore, according to them, $ARRR is a long-term profitable investment especially for those who value privacy the most.

How to exchange $ARRR on Swapzone?

Wondering where you can find an $ARRR exchange online? Don’t worry, Swapzone is the best $ARRR exchange platform in the crypto market today. To exchange $ARRR on Swapzone:

Step 1. Open Swapzone on your web browser.

Step 2. In the “select pair” tab, insert the amount of crypto that you are willing to swap in the “send” section.

Step 3. In the “get up to” section, input the amount of $ARRR crypto you wish to receive.

Step 4. Immediately after you enter the details, Swapzone will provide you with a number of offers. You have the option to choose based on the best rate, fastest, and the one with the best service rating.

Step 5. Once you find an offer you like, simply click on it and click on “exchange”.

Step 6. Enter the wallet address to receive the $ARRR and hit on “proceed to exchange”.

Step 7. After your deposit is received, the exchange partner will then convert your deposit to $ARRR. Just wait for the process to finalize. It may take some time.

Step 8. Once the process finalizes, you will receive your $ARRR coins at your wallet address. Take a moment to rate the exchange partner and leave behind an honest review.

How to exchange ARRR on Swapzone?