Bringing more privacy to the cryptocurrency ecosystem is not easy by any means. Several currencies focus on this area, yet only a few of them will succeed in the long term. Particl is a decentralized privacy platform designed to work with any cryptocurrency. It also packs a lot of additional functionality which is well worth looking into.
What is Particl Exactly?
Building a cryptocurrency-agnostic privacy platform is a rather intriguing venture, for many reasons. Particl does exactly that, and it embraces the open-source aspect of it as well. The platform allows dApps of all sorts to be built within a scalable environment. All of these creations will benefit from the native privacy-oriented features built in. These tools will also be integrated into Particl’s official wallet in the future.
How Does it all Work?
There are many different technical aspects to Particl which users will need to be aware of. First of all, this platform uses smart contract technology which keeps privacy at the forefront at all times. One of the tools built using this platform brings more privacy to the native PART currency, for example. Other solutions provide peer-to-peer messaging tools, decentralized voting, and even an anonymous decentralized marketplace. It is evident there are a lot of options to explore as far as this technology stack is concerned.
Moreover, this platform is not just currency-agnostic, but it is also protocol-agnostic. This platform will certainly offer a lot of benefits to altcoin developers whose currencies are “accepted”. It is important to keep in mind that all supported currencies are converted to PART when a transaction occurs on the network. This applies to untraceable, smart contract-based, marketplace, and regular transactions alike. Otherwise, the native features of this platform could not be leveraged properly.
Among the features to take note of where Particl is concerned are RingCT, privacy-oriented voting, and regular CT signatures. With any decentralized storage network being able to make use of this platform, it will be interesting to see which projects will give the platform a try moving forward. Any protocol in the world of blockchain and decentralization can certainly benefit from more privacy or even anonymity moving forward.
The PART Currency Explained
As we mentioned before, Particl has a native currency, known as PART. This privacy-oriented cryptocurrency can accommodate all types of users. It is required for all marketplace and dApp transactions, as well as for any other form of transferring value across the network. Interestingly enough, PART also benefits from Segregated Witness, a scaling solution originally designed for the Bitcoin network.
What Comes Next for Particl?
The Particl roadmap shows there is still some work to be done, despite major progress having been made last year. During the remainder of Q1, the team will continue to work on the marketplace feature, which will undergo both alpha and beta testing accordingly. A primary funding round will be organized to bring more attention to this project as well. There is no visible plan of action beyond Q1 as of right now, but that doesn’t mean we won’t see future improvements.