About Pirate Chain
On 29 August 2018, several developers from the Komodo community piloted an independent asset chain with the technology offered by Komodo Platform. Pirate Chain harnesses 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.
Whereas many other “privacy” coins have optional privacy features, Pirate (ARRR) claims to be a 100% private send cryptocurrency, as well as the first ‘z transaction-only’ chain. ZK-Snarks technology (zero-knowledge cryptography) is utilized to shield peer to peer transactions. The team claims that this has created the largest shielded private pool of funds of any privacy coin.
Pirate is protected from 51% attacks by utilizing Komodo’s dPoW, meaning its blocks are notarized onto both Komodo and Bitcoin blockchains. 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 malicious actors. Pirate started with a fair launch – no ICO, premine, and 0 dev fees.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.