Rate: ARRR/$



R: 254



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Pirate Chain FAQ


Isn't Bitcoin already private?

It's a common misconception that Bitcoin transactions are private. In fact, Bitcoin transactions are mostly public since it is an open ledger, which makes Bitcoin pseudonymous at best. Every transaction made reveals the balance of your wallet to the other party. It does not take any stretch of the imagination for large corporations to track you through your wallet transactions and vice versa.

In fact, this is so much easier than trying to track you through your credit card transactions as those are hidden on private centralized servers. Whereas with Bitcoin, the blockchain is broadcast globally. Even worse, nefarious actors can target you once they have identified your generous wallet balance. This public display of your financial status to the world is found not just in Bitcoin but also in every other cryptocurrency without native privacy. Financial privacy is paramount to individuals and business entities.

Who are the developers behind Pirate?

The Pirate Chain team, an assembly of accomplished professionals, brings together a wealth of experience from renowned blockchain projects such as Bitcoin, Monero, Zcash, and Komodo. This collective expertise underpins the innovative and technically superior foundations of Pirate Chain.

Built upon the Zcash protocol, Pirate Chain showcases the team's mastery in advanced blockchain technologies, particularly in the dominion of transaction privacy and security. As core developers of Zcash, the team members have demonstrated an unparalleled depth of knowledge and proficiency, leveraging their skills to shape Pirate Chain's technical core​​.

Furthermore, their significant involvement with Komodo, which includes running Notary Nodes and contributing to core development, embodies their versatility and commitment to fostering innovation. This close collaboration with the Komodo ecosystem has facilitated a conducive environment for technical growth and exchange of insights, enhancing Pirate Chain's overall robustness​​.

What is zk-sNARKs?

zk-sNARKs (Zero Knowledge Succinct Non-Interactive Argument of Knowledge) refers to a proof construction where one can prove possession of certain information without revealing said information, and without any interaction between the two parties. Zero-knowledge proofs allow one party to prove to another that a statement is true without revealing any information beyond the validity of the statement itself.

Why is financial privacy important?

In today’s digital world, every action online is monitored and tracked. All financial transactions are at best recorded, or worse, hijacked by hackers for future illicit purchases. Privacy used to be the right to be left alone. Today it has morphed into the right to opt-out of giving away your personal information. Using Pirate Chain will restore privacy to your financial actions, giving you the right to opt-into sharing your personal details, which is a significant step forward for economic freedom.

What is Delayed Proof-of-Work (dPoW)?

Whilst Proof-of-Work is a great consensus mechanism to verify transactions, blockchains that only utilize PoW with small levels of hashing security can be attacked as the market value of those blockchains increases over time with what is known as a 51% attack (double-spending attack). Delayed Proof-of-Work notarizes the transactions made on Pirate on to the Komodo blockchain, and then on to the Litecoin blockchain. This was added to make Pirate more secure than any other Proof-of-Work chain out there by being resistant to 51% attacks. This is what makes it special compared to the others.

How is Pirate funded?

Pirate runs a couple Komodo Notary Nodes that donate funds to us every month, as well as having our main pools donate a portion of the pool fees to us. We profit by having these funds used toward development, community bounties, etc. We also raise funds from the community to help pay for things like exchange listings and more.

What is PirateOS?

Pirate OS is our series of operating systems that we are developing to enhance the security and privacy of those making transactions. Think of it as an environment to run your wallet with the peace of mind of all the security features in place without the exploits and bugs the other operating systems have, plus its transportable since it is burned onto a USB. You simply power down your PC, plug in the usb, then boot from the usb itself and the operating system comes up. This has the distinct advantage of having the ability to transport your wallet anywhere with the USB, while being able to use it on almost any computer. The OS has MAC address spoofing, runs over TOR, and will eventually have the data encrypted as well as run over several VPNs. This ensures that your wallet is safe, secure and virtually untraceable when you make transactions.

Pirate is always being referred to as the best of Zcash and Monero combined, why?

The reason why this is true is that ZCash does not shield all of their P2P transactions, which ruins fungibility and their privacy. Zcash utilizes transparent addresses and those transactions make up 98% of their chain. This is not private. Aside from initial block rewards to pools, all of Pirate Chain's transactions are private. Also, Pirate Chain have a bigger organic anon set and use dPoW.

Monero offers a private chain, but their privacy technology is inferior to ZCash. Fluffypony himself stated that zk-SNARKs offers better privacy than Monero. So a fully shielded chain like Pirate Chain offers better privacy, a bigger organic anon set. Additionally, Pirate Chain is 51% attack resistant with dPoW.

Is Pirate Chain a Shit Coin?

Pirate Chain (ARRR) is a groundbreaking cryptocurrency that has been designed with an unwavering commitment to privacy, fully implementing zk-SNARKs, a state-of-the-art privacy protocol, which ensures that all transactions are shielded and completely private. This unparalleled level of privacy has led to Pirate Chain being recognized as the world's most private cryptocurrency.

The development team behind Pirate Chain is a testament to its technical prowess. The team comprises core developers from established cryptocurrencies such as Komodo, Zcash, Bitcoin, and Monero. This collective expertise has facilitated the integration of advanced features and robust security measures, including Komodo's delayed Proof of Work (dPoW) algorithm, which provides robust protection against 51% attacks.

Endorsements from high-profile figures in the cryptocurrency and tech world further underscore Pirate Chain's credibility and potential. John McAfee, the late founder of McAfee antivirus software, and Jeff Berwick, the founder of The Dollar Vigilante and Anarchapulco, have both publicly endorsed Pirate Chain. Their support serves as a powerful testament to the coin's potential and the value of its privacy features. The growing interest and positive sentiment surrounding Pirate Chain within the broader cryptocurrency community is a strong indicator of its increasing recognition and adoption.

Pirate Chain stands out in the crowded cryptocurrency field with its unparalleled commitment to privacy, robust security features, and the backing of influential figures in the tech and crypto sectors. It is a serious contender in the world of cryptocurrencies

Why does Pirate Chain use a trusted setup?

The Trusted Setup is an essential and foundational aspect of the zk-SNARKs, the state-of-the-art privacy technology employed by Pirate Chain. It is instrumental in the generation of parameters for zero-knowledge proofs, which are the cornerstone of transactional privacy within the Pirate Chain ecosystem. Despite criticisms, it's crucial to understand that the Trusted Setup poses no risk to individual transaction privacy; rather, its sole potential vulnerability, given a compromised setup, would be the creation of counterfeit transactions, while actual transaction data remains inviolable.

Moreover, Pirate Chain's zk-SNARKs technology is an offshoot of the well-regarded Zcash protocol, which is widely recognized for its stringent security standards. The Trusted Setup ceremony for Zcash was conducted with unparalleled transparency, involving an array of esteemed participants from diverse backgrounds, thereby mitigating any fears of collusion or security breach.

As part of their ongoing commitment to the frontier of cryptographic technology, Pirate Chain is considering the integration of Halo 2 and also exploring the implementation of new improved Trustless Setup solutions. Halo 2, an emergent technology in the field of zero-knowledge proof mechanisms, negates the need for a Trusted Setup and enhances scalability through its innovative zk-SNARK implementation. This pursuit exemplifies Pirate's relentless drive to remain at the forefront of advancements in privacy-centric cryptography, constantly seeking ways to reinforce user privacy and security.

You can read more here and here.

Why has so much already been mined?

The accelerated emission schedule of Pirate Chain (ARRR), leading to 90% of its total supply already being mined, is a strategic design decision rather than a setback. This approach is akin to that of other major cryptocurrencies such as Bitcoin, which currently has around 89% of its total supply mined. The expedited emission schedule signifies a proactive approach towards resource distribution, fostering robust security in the network's nascent stages and ensuring a broad and decentralized spread of the currency​​.

The accelerated emission schedule has further resulted in Pirate Chain's enhanced scarcity, endowing it with a high stock to flow value compared to other projects. This scarcity, driven by the strategic decision to have a larger proportion of coins mined early on, may act as a catalyst for its price appreciation, potentially propelling the value to levels that align with the expectations of many stakeholders. The coin's unique proposition of scarcity could serve as a key attraction for future investors, highlighting its inherent value and potential for growth​​.

You can read more here and here.