Pirate (ARRR)is an independent block chain based on Zcash’s zk-SNARK (zero knowledge proof) tech and created using Komodo Platform. Pirate is a forced Z transaction coin. No transparent transactions are possible apart from Komodo’s Notary Nodes. Notary Nodes have hard-coded transparent addresses that are required in order to conduct delayed Proof of Work services.
Currently, Pirate’s transactions are using sprout parameters which can take a very long time to process, ranging from half a minute to an hour in some cases if you have a lot of UTXOs or mined funds. Sprout is not very efficient in sending private Z transactions. Having a powerful computer or server helps but most users may not have that kind of computing power handy. So, currently, users face slow transaction times using Pirate Chain. [Read more…]