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Pirate Chain ARRR

Rank #582

$ 0.20335800 -3.21%

Pirate Chain Price (ARRR)

Pirate Chain to USD Price Chart

Pirate Chain Statistics

Market Rank #582
Market Cap $ 39.9M
Volume 24h $ 64.8K
Circ. Supply 196.2M
Total Supply 200.0M
Max Supply ?
Genesis Date 29/8/2018

What Is the Current Price of Pirate Chain (ARRR)?

As of the latest data, the price of Pirate Chain (ARRR) is currently $ 0.20335800. Over the past 24 hours, the value has decreased by -3.21%%. It's important to stay up-to-date on price movements if you're tracking the performance of this crypto asset.

What Is Pirate Chain (ARRR)?

Pirate Chain (ARRR) is a cryptocurrency that prioritizes privacy above all else. It stands out in the digital currency space due to its commitment to ensuring all peer-to-peer transactions on the network are entirely shielded from prying eyes. Pirate Chain famously uses the zk-SNARKs privacy protocol, ensuring that unlike other privacy-focused coins that offer optional privacy features, Pirate Chain provides mandatory, non-optional privacy, giving users the highest degree of anonymity currently possible on a blockchain.

Who Created Pirate Chain?

The team behind Pirate Chain is not centralized around a single founder or figure. Instead, Pirate Chain came to life from the collaboration of developers and contributors from various projects within the cryptocurrency community. The project places a strong emphasis on decentralization and community involvement, consistent with its privacy-centric ethos.

How Does Pirate Chain Work?

Pirate Chain works by utilizing zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge), a form of zero-knowledge cryptography that allows for transactions to be verified without revealing any details about the transaction itself to the parties that are conducting the verification. This means that the details of a transaction, such as the sender, receiver, and amount, remain completely anonymous and private on the blockchain.

What Makes Pirate Chain Unique?

The primary characteristic that sets Pirate Chain apart from other cryptocurrencies is its absolute commitment to privacy. While some coins offer privacy as an optional feature, Pirate Chain was designed with the ethos that privacy should be non-optional and default. All transactions on the Pirate Chain network are private, thanks to the advanced zk-SNARKs technology that essentially makes transaction data invisible and untraceable by anyone except the involved parties.

How Are Pirate Chain Transactions Verified If They Are Private?

Transactions on the Pirate Chain network are verified using zk-SNARKs technology. This allows network nodes to verify transactions without seeing any sensitive information. It does this by proving possession of certain knowledge without revealing that knowledge and without any interaction between the prover and verifier. This ensures the privacy of the transaction data while still maintaining the integrity of the blockchain.

How Is the Pirate Chain Network Secured?

Pirate Chain leverages the delayed Proof of Work (dPoW) protocol, which adds an additional security layer on top of its existing blockchain. The dPoW protocol takes advantage of the massive hash rate of another blockchain, such as Bitcoin's, making ARRR's network incredibly resilient to attacks. This protective measure ensures that even if a malicious actor could compromise the ARRR network, they would also need to do so with the blockchain that is providing the hash rate reinforcement—something that is highly impractical given the sheer scale of the larger network's security.

How Much Pirate Chain (ARRR) Is in Circulation?

Pirate Chain has a circulating supply of 196.2M ARRR. This is an indicator of how many coins are currently available for use and trading in the market. Understanding the circulating supply is crucial for those interested in the scarcity aspect of the cryptocurrency.

What Is Pirate Chain’s Role as a Digital Store of Value?

While the team behind Pirate Chain does not explicitly claim that ARRR serves as a digital store of value, its privacy features and limited supply can contribute to its perception as a method of value preservation, similar to other cryptocurrencies that are seen this way. However, it's essential for interested parties to assess market dynamics, adoption, and technological robustness when considering any cryptocurrency's potential as a store of value.

How Is Pirate Chain’s Technology Upgraded?

As an open-source project, Pirate Chain can be upgraded and improved by contributions from developers around the world. Any substantive updates or changes to the protocol undergo a thorough review process by the community and are implemented with careful consideration. This collaborative effort ensures the Pirate Chain network remains robust and aligned with the privacy needs of its users.

What Are the Main Uses for Pirate Chain?

The main use for Pirate Chain is to facilitate private financial transactions. Thanks to its privacy features, ARRR is well-suited for users seeking anonymity in their dealings, whether it's personal wealth management, combating censorship, or shielding economic activities from surveillance.

Where Can You Buy Pirate Chain (ARRR)?

Pirate Chain (ARRR) can be purchased on various TradeOgre, CoinEx, Gate.io. These exchanges allow users to trade and invest in ARRR using different fiat currencies or other cryptocurrencies.

How Can You Keep Your Pirate Chain Safe?

Keeping your Pirate Chain safe involves diligent security practices such as using hardware wallets for storage, enabling two-factor authentication on exchanges, and being vigilant against phishing attempts or scams. As with any cryptocurrency, securing your private keys is crucial—they are the only way to access your ARRR funds. Always remember that the privacy providence of Pirate Chain is focused on transactions and does not inherently protect against poor personal security practices.

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