Particl (PART) is an open-source and decentralized privacy platform built on the blockchain specifically designed to work with any cryptocurrency. A P2P encrypted messaging system, a decentralized voting system and a fully anonymous and decentralized marketplace is offered by the platform. The platform can be used to create tools and smart-contracts. Following the alpha release of Particl Marketplace, native privacy coin PART gained more than 30% to trade at about $13. The project currency has 2,044 commits on Github.
The platform allows decentralized applications (Dapps) of all sorts to be built within a secure, highly-scalable environment and be integrated directly into Particl’s official wallet. All the fees generated by the platform are paid to the coin holders who are securing the network.
Particl platform is both currency and protocol-agnostic. Currency-agnosticism means that it accepts almost any currency, making the platform usable by any crypto community. However, even though Particl accepts almost all currencies, they are converted into PART whenever the platform requires a currency transaction (regular, untraceable, marketplace or smart-contract) so that it can leverage its features (CT, RingCT, voting, etc). Protocol-agnosticism, on the other hand, refers to the ability of the platform to use any protocol as its decentralized data storage (DSN) protocol.
Platform wide features
- Proof-of-Stake consensus protocol
- Cold staking – lets users securely delegate staking powers to “staking nodes” which contain no coin. The purpose of these “staking nodes” is to provide a dedicated resource connected to the Particl blockchain and stake on behalf of another wallet without being able to spend its coins.
- Quantum resistance
- Passive income – rewards stakers a minmum rate of 5% per year for securing the network, then drops 1% every year until it plateaus at 2%. This staking reward rate is true if 100% of the total supply is put up for staking, but gets higher as fewer coins are being staked. For example, if 50% of the total network is being put up for staking, the staking reward rate for the first year would be of 10%.
- Decentralized voting
- Particl Foundation self-funding
- Data storage networks (DSN) – used on Particl to store any data (i.e. marketplace-related data such as images) off-chain. This allows the platform to scale well regardless of the amount of data it uses.
- Extensibility & Protocol-Agnosticism
- Secure messaging
- IP anonymization
- Currency agnosticism
- Atomic swaps
- Third-party integrations
- Privacy smart-contracts
- Decentralized escrow
Particl’s decentralized privacy marketplace is a P2P/blockchain hybrid eBay-style marketplace and is self-governed by its community of stakers. It serves the purpose of letting people trade any goods and services in perfect anonymity and security using a decentralized and highly-scalable no-fee escrow system. Particl’s privacy marketplace accepts almost any coin and store its data (pictures, videos, digital files, etc) off-chain for increased scalability. Its privacy is assured at its core by using many of the platform-wide features that can also be used by any developer to create their own privacy Dapp. These features include (but are not limited to) decentralized voting, governance, messaging, escrow smart contract, atomic swaps as well as the CT privacy protocol, the SMSG decentralized storage network and the tor network.
Particl Desktop is the flagship product of the project. All available and in-development features are bundled in Particl Desktop.
PART is a coin with various degrees of privacy to accommodate all types of users and is required to use the Particl platform’s marketplace and Dapps. As Particl is a native Segwit blockchain, all transactions use Segregated Witness (Segwit) by default making the platform very scalable and Lightning Network-ready.
The Particl coin can be sent as three different privacy states, each with their own degree of privacy and cost. The highest privacy state requires the most transaction fee.
This type of transaction is pseudo-anonymous, just like Bitcoin. They are the cheapest transactions to execute and is the default privacy setting.
This type of transaction uses the Confidential Transaction (CT) privacy protocol developed by Bitcoin Core developer Gregory Maxwell to keep the transferring amounts visible only to the transaction participants (and those they designate), while still guaranteeing the transaction’s cryptographic integrity. This is a mid-level privacy option and is more expensive than public transactions, but cheaper than anon transactions.
This type of transaction uses the RingCT privacy protocol developed by Shen Noether to hide both transferring amounts and participants’ blockchain identity by combining Cryptonote’s ring signatures and Maxwell’s CT protocols. It is the one of the highest levels of trustless privacy protocol the crypto industry has to offer and was made famous by Monero. It is also the most expensive privacy setting to use.
Profit for investors
All platform fees such as regular/private currency transactions, marketplace listing fees, and others are paid in totality to stakers, meaning that as the platform gets more traction, staking becomes exponentially more profitable.