Privacy Coin Goes Up By More Than 100% During ETH And BTC Consolidation | CryptoGazette
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There are all kinds of optimistic predictions about the digital assets out there these days. At the moment of writing this article, the crypto market is recovering following important price corrections.
The online publication the Daily Hodl notes that there is an under-the-radar privacy-focused altcoin that has put in a massive move these days.
One of the hottest altcoins this week is Pirate Chain (ARRR). Just in case you don’t know, this is a project that uses a privacy protocol that cannot be compromised by the activity of other users in the network, according to its website.
The blockchain relies on zero-knowledge (ZK) snarks to shield peer-to-peer transactions from exposure making for “highly anonymous and private transactions.”
TOR is supported by Pirate Chain
As the online publication the Daily Hodl notes, the TOR network, the most popular privacy-centric internet browser, is also supported by Pirate Chain.
It’s also worth noting the fact that the project also has e-commerce integration tools for online stores.
The Pirate Chain project has attached a backup of its blockchain to the Litecoin (LTC) chain for extra security.
It is really important to mention the fact that under the Pirate Chain’s architecture, a 51% attack, which is when a hostile group takes over more than 50% of a blockchain’s hashpower, is theoretically impossible, according to the project.
“The developers who created Pirate Chain believe the best use of the protocol is a chain that requires private sends only.”
The notes continue and reveal that the delayed Proof of Work (dPoW) protects Pirate’s blockchain from damage against double spends and 51% attacks by attaching a backup of the ARRR chain to the Litecoin Blockchain.
“In order to 51% attack Pirate, you would have to first 51% attack Litecoin. This makes double spends and hostile takeovers nearly impossible if not impossible altogether.”
Check out more details about all this in the original article.
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