Ahoy, Pirates! At this point, you are probably familiar with Satoshi Nakamoto’s desire to make Bitcoin private and anonymous. However, Bitcoin isn’t as anonymous as you may think due to its transactions visibility. 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, compare Pirate Chain vs Monero and show how you can perform the best rate Pirate Chain exchange on Swapzone.
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.
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.
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.
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.
Some of these popular price predictions include:
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 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.
Wondering where you can find a Pirate Chain exchange online? Don’t worry, Swapzone is the best Pirate Chain exchange platform in the crypto market today. To exchange $ARRR on Swapzone:
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.