Pirate Chain
Crypto Overview
Overview
Pirate Chain (ARRR) is a privacy-focused cryptocurrency launched in 2018 that uses zk-SNARKs technology for private transactions. The project aims to be the most anonymous and private cryptocurrency available, implementing mandatory private-only transactions using zero-knowledge proofs.
Intended Utility
The primary intended purpose is to serve as a private medium of exchange and store of value, focusing on financial privacy and fungibility. The project implements delayed Proof of Work (dPoW) for security and zero-knowledge transactions for privacy.
Actual Utility and Adoption
The cryptocurrency has achieved moderate adoption within privacy-focused communities. It is actively traded on several exchanges and has maintained consistent development activity. The project has implemented its own wallet called 'Skull Island' and maintains regular technical updates.
Token Distribution and Founder Analysis
The project launched through fair mining without pre-mine or ICO, suggesting a more equitable distribution. The development team is known but pseudonymous, which aligns with the project's privacy focus while maintaining some accountability. There is no evidence of excessive founder enrichment schemes.
Technical Implementation
The mandatory privacy features are implemented at the protocol level, ensuring all transactions are private. The project uses established cryptographic techniques and has undergone security audits.
Revenue Model
The project generates no direct revenue and relies on mining rewards for network security. There are no lending or interest-bearing components in the core protocol.
Crypto Impact
To assign a comfort level investing in Pirate Chain from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Pirate Chain.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.