Particl - Shitcoin Review
on Aug 24, 2018
Oh yeah…bumpin’ to this music.
“You's a window shopper
Mad at me, I think I know why”
*raises volume while holding bottle of whiskey like a G*
“Jada you's a window shopper
In the jewelry store lookin' at shit you can't buy
Joe you's a window shopper”
Oh baby, we’ve been groovin’ to “Window Shopper” by 50 Cent.
Damn bear market has us window shopping, but we won’t let that hold us down.
Today's coin gets us excited to start buying shit when our coins obviously pump...
Today’s coin review is: Particl.
Let’s dig in…
*lowers 50 Cent*
Particl (ticker: PART)
Wtf is this shit?
Much like 50 Cent, Particl is considered an OG. Stemming from a project named the “Shadow Project” in 2014, they have built a solid reputation.
Particl is a privacy focused crypto project, that also wants to offer a decentralized marketplace and escrow service, and is compatible with any protocol.
First, let’s look briefly at the privacy aspect. They have a dual token system: public and private tokens. You can send public tokens into your private token balances, and vice versa.
The public token (along with the Particl code base) is largely based off of Bitcoin... Thus, the public token takes on the characteristics of Bitcoin’s pseudo-anonymity. Additionally, since it is based off of Bitcoin’s logic it is easily integrated with major wallets and exchanges. This really helps the project. Particl is also compatible with most (if not all) of Bitcoins latest versions.
The private token is for those paranoid crypto anarchists (us). They integrated Confidential Transactions functionality and RingCT (from Monero). Confidential Transactions is a process for sending transactions which hide the sent amounts, so only the two parties involved can see the amounts. Meanwhile RingCT takes things a bit further by also hiding the addresses of each party, and utilizes stealth addresses.
Ultimately, users can set preferences depending on the level of anonymity they desire.
As part of their project they plan to offer an escrow service and marketplace….both decentralized of course.
To make this simple, the escrow service acts as a trustless solution by having funds dropped into a 2-of-2 multi-sig wallet, so both parties need to be in agreement. Their logic is based off of “MAD” (Mutually Assured Destruction logic).
Basically, it works by requiring the seller to place value/funds in to the account as well. So...the seller places X amount of money in escrow account, the buyer puts in the purchase amount. Then, both buyer and sell must sign the wallet for funds to be released to each party. In the event that the item being sold is not sent to the buyer or damaged, then the buyer will not sign the funds...thus they are locked. In the end, both parties lose money. This sucks, but adds some accountability and neutrality to the equation. The transactions are then sent in a private manner using CT or RingCT’s, avoiding an entirely different issue in escrow which is staying private and anonymous, without increasing the risk of the transaction. So...with Particl’s escrow logic, the buyer and seller can directly affect the deal, while transacting anonymously if they desire.
Next is their marketplace. With what seems like a focus on user experience and interface, they have a lot of hype. It’s pretty much what it sounds like...a decentralized marketplace where you can buy and sell goods. They are also making it easy for businesses and developers to spin up their own marketplace using Particl's open sourced logic.
Aaannd their consensus. They have introduce PoS...around a 5% return the first year, 4% the second year, then 3%, then 2%, and so on. Enjoy.
Of course, there are some other efforts, but this sums it up. SOAK IT IN BABY.
Who tf is behind this shit?
What started originally as the ShadowProject rebranded into Particl, to transition into a more professional brand. The ShadowProject guys did this in 2014 after meeting some investors and well-connected individuals from Hong Kong. They did a swap of SDC to PART. Ever since they have had a growing community and continue to show that they are a reliable team. They also do have a legal entity to accept funds from investors and really support proper operations, PR, development and more.
Anyways, Mid-Tier shitcoin, highly competitive market, but good team and brand.
Hope you learned some shit.
- Mike and Aaron