In the current digital world, privacy is a truly rare commodity, thanks to the sheer amount of data gathered by every website one visits or applications they use. While businesses continue to monetize user data, by way of collecting and sharing it, they also expose users to various cyber threats posed by hackers as well as governments that seek to watch every move of their citizens.
Web users have always been exposed to the risk of their private and financial data being compromised and used for nefarious purposes. In such a scenario, the need for a secure payment system is one of the many requirements. Bitcoin and other cryptocurrencies offered a somewhat secure payment method, but some of them are pseudonymous or partially anonymous at best. Many a time, it has been proven that on-chain transaction data, along with other parameters can be used to identify parties to a transaction with considerable accuracy.
Pirate Chain as an Answer
Started in 2018, Pirate Chain is considered the most private and secure cryptocurrency that implements industry-leading privacy protocol based on a sound strategy. Using Pirate Chain’s native ARRR cryptocurrency for transactions ensures complete privacy and security by default, something that is not offered by any other privacy-centric cryptocurrencies so far.
To achieve complete privacy, Pirate Chain uses a well-known and proven cryptography protocol named zk-SNARKs. It builds on the work of the ZCash Equihash consensus algorithm and secures itself against 51% attacks by using the Komodo delayed proof-of-work technology with extra notarization on the Litecoin chain. The implementation of privacy features as the default is completely opposite from other zk-SNARK based privacy coins which allow users to shield their transactions on-demand. On Pirate Chain, all transactions are shielded and visible only to the sender and receiver of ARRR, with an option to opt-out of privacy through the explicit action of publishing the transaction ID. Further, Pirate Chain protects any other identifiable information like the IP address of users by using an embedded Tor Network.
An Option Hard to Ignore
Pirate Chain has come a long way in the past couple of years to create a fully-fledged cryptocurrency ecosystem. The use of zk-SNARK’s latest Sapling MPC upgrade streamlines all ARRR transactions without compromising privacy. Further, it makes ARRR compatible with Point of Sale (PoS) systems, hardware wallets, Simple Payment Verification (z-SPV) powered mobile wallets. ARRR is also listed on some of the leading exchanges and numerous businesses have already started accepting the Pirate Chain cryptocurrency as a mode of payment.
Today, with ARRR, users can expect to execute completely private and anonymous transactions. A luxury that ensures peace of mind by ensuring their personal and financial information is not up for grabs by those planning to make a quick buck or the ones snooping around in the guise of protecting a community’s or country’s interests just because they can.
Learn more about Pirate Chain and ARRR at – https://pirate.black/
This post was originally published on www.newsbtc.com