Hello and welcome to a new crypto article.
Today I bring you a project that I think most people are unaware of and I believe that have everything to be the future of cryptocurrency joining the real world.
This is also a privacy based currency, but when you hear someone talking about privacy coins they bring up Dash, Monero, ZCash, and more recently Verge, PIVX, etc… What about Particl? Why no one mention Particl?
ShadowCash was an anonymous cryptocurrency project started in 2014 that was very similar to Monero implementing CT and RingCT. After a while the team wanted to go mainstream, become more professional and lose the shady part associated with ShadowCash and growth into a new project called Particl.
The predecessor was shut down and they provided a platform for exchanging old tokens into new ones. During this exchange process you could invest some BTC to reinforce your position. In this way Particl project gathered about $750.000 that in today's BTC value is something around $2.000.000.
But enough about ShadowCash, what is Particl?
The goal is to be a fully decentralized, anonymous, P2P market that supports multi-currency. This will allow users to maintain their privacy while buying, selling, trading or chatting with anyone across the world.
Being decentralized and self-governed the network is handed to the community, removing all kinds of authority and obligations to stakeholders. In this network users can participate in the governance and earn some passive revenue. No central authority can decide what can and cannot be listed in the market. But don’t be afraid, all content must be approved by the community, and illicit content are downvoted from the community until cease to exist.
Stronger points of the new decentralized "eBay":
- Passive income for users operating nodes and helping to secure the network.
- Zero to Low fee’s.
- Freedom to list almost anything in the market.
- Ownership of the platform through self-governance.
- Ability to private listing.
- 2nd party trust less escrow.
- End to End encrypted communication.
About the decentralized escrow they implement on the marketplace is the Mutually Assisted Destruction (MAD Escrow). This locks the funds from circulation for the duration of the transaction, including payment, processing, shipment, potential resolutions, etc…
All transactions made are settled in PART, but the project integrate Shapeshift in order to extend their platform to all cryptocurrency community building this way a crypto-agnostic market who accept all popular coins. So, when you need to pay for something you can use whatever coin you want but in the background it will be converted into PART. At the same time this is awesome for everyone because this generate transactions on the blockchain and with that comes staking rewards.
Nowadays most of the projects that you see run on top of Ethereum, but Particl members considered it a young technology and believe that bitcoin provide a more establish foundation. So, they run on top of the battle tested code of bitcoin core codebase with focus on privacy.
”The Shadow Project is an open source project aiming to be the core of privacy, where people will build decentralized applications.”
As I said before the base technology is Bitcoin Core codebase, and Particl was the first to introduce Confidential Transactions (CT) to it. This blocks the details of the transaction to the blockchain. Anyone looking to the transaction can see it, but only the sender and the receiver have access to the details.
Regarding the chat functionalities they encrypted it from end to end implementing BIPs, non-interactive zero knowledge proofs (NIKZPs), stealth addresses and ring signatures.
In addition to the marketplace the project also plans on launching Dapps. Right now, there is no much information about how this will work, but won’t be like Ethereum Smart Contracts, more like some client application providing better experience and privacy.
If you pay attention to the cryptocurrency news you surely have heard about Segregated Witness (SegWit), being the reason of the most recent hard forks in Bitcoin.
Here you can see that Particl is a project with good foundations. They were already ahead implementing SegWit in the core even before it was officially adopted by Bitcoin.
Now I leave you with a video from Particl team.
The Particl project team looks pretty professional. This is composed by a full-time development team, that is constantly growing. Right now, its composed by 12 people, 8 of them developers. In addition, the have also a panel of 4 advisors.
One thing that could be a trouble to the project goal is the legal issues, so in order to handle all legal matters and avoid getting on the wrong side of the law they formed the Swiss Foundation.
Being a Proof-of-Stake cryptocurrency Particl want to share their revenue with everyone and you can take dividends from holding. There is a good opportunity for staking your coins with some interesting passive income.
Year 1 --- 5%
Year 2 --- 4%
Year 3 --- 3%
Year 4+ --- 2%
Take in consideration that Particl is “owned” by all the stakers, so all the fees derived from the platform goes to the stakers who secure the network. That includes market fee’s, token conversions, and in the future dividends over the DApps.
WEBSITE | ANN | ROADMAP | GITHUB | TWITTER | SLACK | COINMARKETCAP | REDDIT | WIKI | BLOG