ADSactly Spotlight - Cryptocoins -- Particl/PART -- 12th feature "private" coins
Spotlight on Cryptocoins -- Particl/PART -- 12th feature "private" coins
Hello Steemians
In this series of articles I want to put a spotlight on a specific cryptocurrency and write about the details in all these aspects:
Aim of the currency
Technical details
Market position
Forecast
The cryptocurrency in focus currently will be one of the so-called "private" coins. Coins that create the possibility to be more or less in private while doing transactions. How private you are is one of the main questions to be answered in this articles.
In this 12th article of the series, the spotlight will be on Particl.
PictureSource
Aim of the Currency
What is this currency about? What does it do differently than the rest?
Where is the unique selling point and at what audience is this coin targeted?
All that questions and more will be answered in the following paragraph.
Particl or PART is a multi-purpose cryptocurrency, created to fulfill different use-cases. First it is a private cryptocurrency with three different states of privacy, second it is directly used on the anonymous marketplace of Particl and third it can be used also for creating other dApps in the Particl environment.
Atomic Swaps is one of the most interesting features that PART is offering since this ultimately making it possible to use your favorite cryptocurrency directly on the Particl Platform, enriching the native features with the increased security and privacy.
The consensus algorithm is using a Proof-of-Stake approach and features currently a minimum of 5% staking interest per year.
Some of the features are still under heavy development, the marketplace is for instance still in alpha and only available on the testnet, as well as the migration to use RingCT, which will be done in a hard fork.
Technical Details
Particl has wallets that support Linux, Mac, and Windows and also a mobile version supporting Android and iOS. The most convenient method to use PART is the so-called Desktop.
Blind or anon transactions can currently not be done using the mobile wallet.
Particl is a pure PoS coin that currently offers 5% annual Proof-of-Stake rewards.
There is no master node-mechanism in place.
The current number of circulating coins is a low 8.954.704, this number is only increased by 5% annually. The block Time is 120 Seconds with a 2Mb block-size.
Particle bases on the latest Bitcoin core (0.16.0) and has Segwit enabled per default for all transactions.
Privacy of transaction has three different levels within PART.
- Public is like the names say a transaction completely public.
- Blind uses the CT, confidential transaction, protocol to achieve a medium security. The transaction details are only known to the participants and those they designate. Transaction costs are higher than in public mode.
- Anon is the maximum privacy option, using the RingCT protocol. This is also the most expensive kind of transaction
Market Position
At the time of writing this article (05/02/2018), Particl is placed 121th in market capitalization, with the total value of $148.674.949. The 24h Volume was $1.809.670 USD which is a rather low number compared to the last month.
The last weeks and months have been quite a bumpy ride with cryptocurrencies, but the trend rather goes up for Particl. The all-time high was reached on January 13th with over 47 USD per PART.
Since then the price has been losing ground, only stopped at 9,33 Dollars at the beginning of April.
Currently, curves are going up and the price is at 16.60 USD per PART.
GraphSource
Looking back a year, we can see there was a lot of sideways movement in the first period of time. The coin shot upwards like most of the cryptomarket in the year-end hype of 2017, lost a lot of ground and rebounds now since the beginning of April.
GraphSource
Forecast
Just like all the other private coins Particl for sure has a valid point in trying to keep the privacy of the sender and receiver.
Particl is not listed on many exchanges currently, but it can be bought using Bittrex and Upbit.
Technically this coin goes new ways having the Bitcoin Core Code including 3 different layers of security and privacy.
If the team can deliver the new features and software like they are planning to, the price for sure will go up as well.
The Roadmap of the coin can be found here.
Conclusion
Particl is offering privacy in three different levels from public to anon, it is also possible to use TOR to hide the IP details.
The features surrounding this, especially Atom Swaps and the anonymous marketplace are for sure creating extra attention on this coin and deliver added value.
Last but not least there are also some drawbacks and they should not be unmentioned:
- Proof-of-Stake coins sometimes are criticized for making the already rich even richer.
- Privacy of transaction has been also viewed with criticism.
- Integration of anonymous marketplace can be seen as problematic.
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Thanks for sharing info about part, its is in my to be following projects. I wasn't aware that it can run dApps which is one of the big features these days. The issue is more of scalability and security of coins capable of smart contracts.
Private coins will be banned in Crypto exchanges in Japan and that is not a good news to me cause I am a Japanese. On the other hand, it is also what I am expecting to happen that the government will intervene with this private coins. I already picked a horse in private coins and thats none other than TokenPay by Derek Capo. Derek already puchased a equity in a german bank to become a gateway of fiat to crypto. Let's see how can this resolve the problem. Thanks @adsactly for continue posting valuable post
This crypto project is extremely impressive to me. I never even knew about Particl/PART until you did this writeup so I'm going to look into it in much more detail now. I do believe privacy coins will play a huge role in crypto down the road so this one may be incredibly undervalued at the moment based on how you've described it. Thanks for the outstanding @ADSactly writeup!
I’m not very good at decision making when it comes to investment based on spotlight of curency which has very small market cap causing the specific coin to be very volatile. However, there are few things very important to me to even consider putting it to my watch list. Privacy is very important, than its volume. Because if it has a low volume then there's only few people who patronize it and the sell & buy orders are doubtful. Last but not least it’s volatility. Sometimes those swings are nerve taking. If you are a trader, it could be quite profitable, but I already went through this experience and I’m staying way out of it. Long therm investor is the most profitable way in my opinion. Anyway, of course the background and the future plan of the specific project is important as well, however today there is so many coins with similar plans becoming too confusing. It’s like too many cooks in the kitchen. What interests me about Particl is the confidential transactions, where the amount of the transaction is only visible to the participants in the transaction. Another unique thing about Particl is that stakeholders can earn income even if they don’t buy or sell anything on the market. As you mentioned 5% interest or rewards annually. It’s almost like a CD’s. Particl sounds to me as a new way of shopping without having involved third party such as credit cards. As I already mentioned, there is so many ICO’s with similar plan, you would have to be invested in all of them to choose the right one. Great review though!
Before Steemit I was not that interested in cryptocurrency. I knew about it but not that much, not what is all behind this world. Now, on Steemit, I just enjoy reading these posts that will teach me more about this world. I really appreciate the time you give, helping others to achieve something in their life. I really appreciate it!
I love that this coin has 3 layers of security and privacy. That is the thing that I want to know about immediately. Security is very important to me. I hope this coin will find its path up, it seems like it has some potential.
Thanks for the read, I enjoyed it. Thanks a lot, for sharing knowledge and helping people @jedigeiss and @adsactly!
A debt of gratitude is in order for sharing information about part, its is in my to take after undertakings. I didn't know that it can run dApps which is one of the enormous highlights nowadays. The issue is a greater amount of adaptability and security of coins fit for shrewd contracts. @adsactly
Great Comments :-)
Looks to me like you used a content spinner to copy/paste another's comment. Not polite. Flag.
Particl Wallet is not only going to be a wallet but it is going to feature a market place as well to purchase and sell goods all right within the wallet. Imagine having an amazon if you will where you can buy and sell things without 3rd party issues. Now with this market the public part of the market that is visible to the world will have filters to prevent illicit drugs, guns, hitman, and pornography from being sold in public so anything searchable by default is going to be only legal and potentially grey market goods like gift cards etc… Now there will be a vegas part of the market as well which will be private and what happens in vegas stays in vegas this will prevent others from simple access to illicit goods so there will be no silk road here not to say that it will be devoid of any bad sales but it will not be any worse than say cash and debit cards. The market will also allow the purchase and sale of items using other currencies as well.
I've been trading in Bittrex for a long time and didn't know about this currency.... I've just researched it and it looks like a good project. At first look you can see that it is in the .61 fibonacci and almost touching the 200 period trend line, the RSI is at 45. Maybe we can expect a good rebound with a new impulse....
Thank you for the information, colleague @adsactly
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Particl otherwise known as used to be Shadow Cash. Been following this coin for quite a while now. Did they ever discharge the marketyet...thats the most compelling motivation other than security imo is the reason many individuals are following this project.Thanks for sharing important post.all the best Sir @adsactly