If there is any youngest, P2P cryptocurrency with decentralized, secure nature, then it is Particl. It is the next-gen version of ShodowProject. ShadowProject is again a privacy-oriented cryptocurrency which was launched in 2014. The developer of SDC formed PART in 2017.
It is the newest crypto in the block with an emphasis on building an ecosystem around its features such as privacy and anonymity. The system would be easy to use and would have good scalability. It is willing to enter a new age of cryptocurrency and blockchain technology with the help of its offerings like secured and protected user data. It wants to change the way online transactions and exchanges work by removing the need for any middlemen in the process.
Advantages of PART Technology
Proof-of Stake (PoS) system:
Particl is based on PoS technology, despite the fact that it is based on Bitcoin. It delivers as much as five percent staking rewards to the users. However, this reward would be reduced each year by one percent, and after four years it would be constant. As mining is not that much involved in this proof of stake coin, it is more eco-friendly and efficient than other similar PoW coins.
As we have already seen, it is a privacy-based crypto coin. But how does it do this? PART relies on an innovative protocol called ring confidential transactions RingCT which is also called a ring signature to protect the privacy of its users on the blockchain system.
Segregated Witnessing (SegWit):
PART relies on this technology to boost the security and stability of the blockchain system. SegWit increases block size, hence improving transaction confirmation speed and block times. It also enhances transaction malleability. SegWit helps in increasing network capacity and efficiency too.
Key Qualities of PART
PART comes with its own marketplace called the Particl marketplace. This marketplace is one of the first DApps released on its ecosystem. Its alpha version was released recently on 31st May 2018. This marketplace does not store user data on any server, nor does it share this data with 3rd parties. Users can transact in a secure environment with assured privacy and anonymity. Concern seller will do the transaction and the buyer, no middlemen would be involved in this.
The Particl platform offers users with a decentralized, and secure voting platform, which facilitate a productive platform to interact and communicate with each other. Here, users with no stake in the network will not be allowed to vote.
Passive income via staking:
Here, users are facilitated with one passive source of earning. They can earn PART simply by staking their PART currency. This works in favor of a PART network too as the more active nodes are present, the more difficult it is to lodge a cyber attack on the network. The users are rewarded a certain amount of PART coins for securing the network indirectly.
Messaging – PART system comes with a secure, anonymous, P2P messaging system which is built right into the desktop client.