A Brief Introduction to Pirate Chain
On August 29th 2018, the best developers in the Komodo community piloted an Asset Chain with the technology offered by Komodo Platform. Pirate harnesses the power of battle-tested tools such as Delayed Proof of Work (dPoW) from Komodo, zero knowledge proof (zk-SNARKs) transactions from ZCash, and the rule of enforced private-only transactions by Monero. Pirate is protected from 51% attacks by utilizing Komodo’s dPoW, meaning its blocks are notarized onto both Komodo and Bitcoin blockchains. Simply stated, attempts to mount a Sybil attack against Pirate would have to overcome the combined hashrates of Bitcoin, Komodo and Pirate. This is an astronomical cost that would deter any malicious person. With regards to privacy, Fluffypony, the lead developer of Monero, has publicly stated that zk-SNARKs offers better privacy than Monero and any other privacy protocol. As ZCash allowed for optional privacy, less than 1% of all ZCash transactions are private; consequently, they can never offer the same level of privacy as Pirate. The other ninety-nine percent of transactions serve as public datapoints for meta-analysis and deciphering of the private transactions. Most notably, Pirate was lauded at Monero’s research conference, MoneroKon 2019, as having the strongest anonymity in the industry. On top of that, Pirate started with a fair launch, no ICO, no premine and 0 dev fees.
The Pirate Chain Team
Being a decentralized team, Pirate has benefited from a dedicated community contributing their skills in coding, marketing and business. Our talent pool includes Bitcoin core contributors, developers from ZCash and Komodo, website and SEO experts, and a strong collaboration with the Turtle Network as well as ZCash. We do have full time staff, including our lead developer MrLynch, pool and wallet developer ComputerGenie, core developer James Lee (the lead developer of Komodo), also Lootz, Kosius and House amongst many others who run our social media and marketing, and Draeth (project/community management and outreach). As our project grows and garners more attention, our team continues grows as well. We are all motivated by an innate desire to develop the most private cryptocurrency on the market.