Blog / Coins / What Is Pirate Chain

What Is Pirate Chain?

Oct 25, 2022
4 min read

This blog post will cover:

  • About Pirate Chain (ARRR)
  • Where did Pirate Chain (ARRR) come from?
  • What are the advantages of Pirate Chain (ARRR)?
  • What are the disadvantages of Pirate Chain (ARRR)?
  • How to buy Pirate Chain (ARRR)?

About Pirate Chain (ARRR)

Pirate Chain is an autonomous blockchain with a coin concentrated on full financial secrecy. Pirate uses a privacy protocol and a special technology to cover all the P2P transactions in the blockchain. 

According to the official website of the project, ARRR is a totally private crypto. The protocol that’s used by the platform can’t be impaired by the activity of other people on the network. It utilizes zk-SNARKs protocol to hide the transactions. That’s how they stay anonymous and confidential. 

Where did Pirate Chain (ARRR) come from?

Pirate Chain appeared in 2018. It was made by various devs from the crypto community. They have experimented with a separate asset chain using the technology of Komodo. Pirate Chain consists of different parts including dPoW (delayed Proof-of-Work) of Komodo, zk-SNARKs transactions of ZCash and the rule of enforced private-only transactions of Monero.    

The core aim of the team is to make the most secure and private cryptocurrency. Thanks to the strong privacy protocol and competent strategy performance, the project’s team is successfully achieving its goal. 

What are the advantages of Pirate Chain (ARRR)?

  1. Privacy. ARRR is the 1st crypto that implements zk-SNARKs which is a reason for the high privacy level of it — none of the personal info is revealed in blockchain. 
  2. Security. The project has an independent blockchain shielded by the dPoW. It helps to secure a network against fifty-one percent of attacks.

What are the disadvantages of Pirate Chain (ARRR)?

  1. Token price. According to Coinmarketcap, the all-time high of ARRR was $16.90 in April 2021, and current price is $0.39 , that’s pretty low considering the time ARRR is on the Crypto Market. However, this might change very soon if the project will raise the community’s loyalty and popularity of the ARRR. 

How to buy Pirate Chain (ARRR)?

If you think of buying an ARRR coin, make sure to visit the SimpleSwap homepage. Check out our guide to buy ARRR:

  1. For example, you want to swap BTC for ARRR. Select the currency you want to exchange (BTC) in the first drop-down list. Enter the quantity you want to swap.
  2. Select ARRR in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. ARRR will be sent to this address. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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