Ahoy ye Leo! Drop ye anchor, bring on a noggin a rum, and let this old scallywag tell ya how pirates protect their booty from the peepin eyes of them land-lovin tax collectors tryin to hornswaggle our loot!

I guess I'm late to the game, but over the last few weeks I've been learning more and more about PirateChain(ARRR). I first heard the name probaly a year ago, but I thought it was probably a meme coin, and did not even take a look. I have become very interested as of late, and I really want to know how everyone else in #leofinance feels about this project. As a lover a freedom, privacy coins have always been one of my favorite blockchain technologies. I believe we are seeing a unprecedented growth of a tyrannical technocracy, that already seems to track, trace, and record every movement, of every person, both irl, and digitally. Countries around the globe are passing extreme regulations on every aspect of life and industry, and increasing taxes dramatically. If we don't resist, there soon will be no resistance. The world wide spying apparatus his is already being used for horrible things, but the potential is even worse than we can imagine. This is why the ability to transfer assets quickly, and anonymously has always been a major goal of many of us in the crypto sphere, including Satoshi himself. I believe this was his ultimate goal. If we are ever going to truly break away from the corrupt financial establishment leaking unimaginable amounts of wealth from our people daily, we need secure, anonymous transactions.

I have always been a big fan of **Monero, ZCash, Dash*, ect. Unfortunately the flaw with all of these coins is that private transactions are optional. Because of this, a large protion of the tx's are not private, and identities of users can be accessed through forensic analysis of the data from the blockchain. Here is a quote from a tracablity analysis of Monero.

In this work, we quantify the efficacy of three attacks on Monero’s untraceability guarantee, which promises to make it hard to trace the origin of a received fund, by analyzing its blockchain data. To this end, we develop three attack routines and evaluate them on the Monero blockchain. Our results show that in 88% of cases, the origin of the funds can be easily determined with certainty. Moreover, we have compelling evidence that two of the attack routines also extend to Monero RingCTs—the second generation Monero that even hides the transaction amount. We further observe that over 98% of the results can in fact be obtained by a simple temporal analysis. In light of our findings, we discuss mitigations to strengthen Monero against these attacks. We shared our findings with the Monero development team and the general community. This has resulted into several discussions and proposals for fixes.

Now I am not a tech guy by any means. I am just very very interested in private, secure transactions. So when a coin claims to be 100% anonymous, I can only go by the devs claims, and the claims made by 3rd parties examining the blockchain. Is it really this easy to compromise Monero? This is extremely distressing to me. Monero makes up 20% of my(very small) holdings, and has always been one of my favorite projects.

The completely open source, decentralized, fair-launched, volunteer developed *PirateChain seeks to overcome the shortcomings of Bitcoin and other privacy coins. Instead of this drunken pirate trying to explain the tech, I'll just share some of the developers words from the official website pirate.black

Many cryptocurrencies offer optional privacy features, however, ARRR is the first cryptocurrency to implement a mandatory, private-only usage of Zero Knowledge-Succinct Non-interactive Argument of Knowledge (zk-SNARKS). Zk-SNARKs is a zero knowledge proof protocol that allows one party to prove to another that a statement is true, without revealing any information beyond the validity of the statement itself. These proofs are also “succinct” and can be verified within a few milliseconds. Zk-SNARKs is widely accepted across the industry as the strongest privacy protocol

All ARRR addresses are by default shielded z-addresses only, as are all transactions are by default z-transactions only. This means that balances of every address are not visible to anyone else besides the user. The transactions also cannot be tracked as there is no trace of the transaction beyond the user’s wallet. Complete privacy down to the user’s IP address is further protected with embedded Tor network compatibility.

Another unique feature of Pirate Chain is the anonymity set. Pirate was designed to use virtually every transaction to build the anonymity set. This all-inclusive approach creates an infinitely growing, impregnable anonymity set. The anonymity set can be followed “live” here, https://anonset.dexstats.info/

All ARRR addresses are by default shielded z-addresses. There is only one visible transaction on the blockchain. From the miner to the first address. apparently this is necessary to prevent fraudulent coins. This tech makes it easier, and more secure than ever to truly send assets anonymously, and without a bank.

Touch me loot feel me boot!

Now to get into a little bit about the securitiy of **PirateChain, which is a fork of Komodo(KMD), which is a fork of ZCash, which in turn was a fork of Bitcoin. This mean ARRR* transactions are indexed onto Komodo and Bitcoin blockchain, making it incredibly secure.

Pirate employs a Proof-of-Work algorithm for blockchain security. As an added security against 51% double-spend attacks, Pirate utilizes the delayed Proof of Work algorithm offered by Komodo. Delayed Proof of Work indexes Pirate’s blockchain onto Komodo and Bitcoin blockchains. In so doing, any attempts to attack Pirate’s blockchain will first need to overcome both these blockchains, which is prohibitively costly and virtually impossible

Since **ARRR is built on both Komodo and Bitcoin*, in order to have a successful 51% attack, malicious actors must control 51% of ARRR, KMD, and BTC. This makes it virtually impossible, and it's security only grows with Bitcoins market cap.

*EDIT: I was informed that Komodo bow notarizes on Litecoin blockchain, instead of BTC. I change made very recently.

AtomicDex

Now if the absolute privacy and security wasn't enough, I haven't even got to the most exciting part. Like I said PirateChain is built on Komodo. A major part of the Komodo ecosystem is AtomicDex. This is a non-custodial DEX, that allows users to make cross-chain swaps, while truly always maintaining thier private keys. I'll take a quote from Komodo's blog

Many DEXs in the blockchain space today aren’t genuinely non-custodial since user funds placed in liquidity pools are constantly exposed to impermanent loss, rugpulls, and vampire attacks. AtomicDEX, in contrast, avoids these issues by using decentralized P2P order books.

Unlike most DEXs that exist today, AtomicDEX doesn’t limit trading to a single blockchain protocol. AtomicDEX offers the widest cross-chain and cross-protocol support in the entire blockchain space. It’s easy to trade BTC, ETH, all ERC-20 tokens, KMD, and hundreds of other digital assets natively from dozens of blockchains — no proxy tokens required.

Atomic swaps are designed such that the swap takes place and both traders receive the funds they desire, or nothing happens at all and both traders retain the funds they started with (minus a very small transaction fee for the “order-taker”). Atomic swaps make digital asset trading as secure as it can possibly be.

This is exciting because once they support *PirateChain from what I understand, you will be able to swap from BTC or other crypto assets, to ARRR also anaymously. This tackles one of the previous hurdles privacy coins have been trying to clear. The fact that a coin may be private, but can only be bought with BTC, which is anything but private.

The world is more and more clownish every day, People will do whatever is necessary to protect their wealth if they need to. This is why I am so bullish on **ARRR, even though I am certain it will face pressure from governments and establishments in the future. In a total world surveillance state, privacy will be valued more than almost anything. With a max supply of only 200m holding at least a little bit of ARR, as well as some other privacy coins, will most likely bring returns in the future.

I will be honest, I really do like the aesthetic of PirateChain, and the community is really great. I have really kind of dove too deep into the meme lately, and my family is getting upset about all the rum everywhere, and scurvey can be troublesome. Because I am obviously biased to a project with these values, and that looks this cool, so I am trying my best to be objective. What do you guys think about ARRR?* I'm sure some of the geniuses in Leo know a lot more than me about the project.

*The PirateChain discord has been poppin lately, and people there are very generous with the tip bot. So if you ARRR interested, you should definitely check out the Discord community. I'll leave a link below.

While most crypto assets communities, and exchanges are rushing to conform to regulation, and bow to uncle sam, open source devs have created what I hope is the *true vision of Satoshi, and the necessary evolution to escape the grips of the financial establishment.

Thanks for reading *-Daniel

ARRR discord https://discord.gg/RPQrubtbt7

Official Website https://pirate.black

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Bitcoin:

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