PART as a coin itself focusses on giving the user the choice of privacy when making a transaction. (SegWit enabled by default)
The user can choose between public transactions, confidential transactions (CT), and Ring CTs. (currently on testnet)
PARTs use case, aside from having privacy features, is being used for the PARTICL platform’s marketplace and dApps. (decentralized applications)
Codebase: Bitcoin Core 0.16.1
Consensus Mechanism: Particl Proof-of-Stake (PpoS)
Total Supply: 9.062.083 PART
Circulating Supply: 8066083 PART
Particl Foundation Fund 1: 212,034.13752566 PARTs
Particl Foundation Fund 2: 996000 PARTs
Publicly owned PART: 7854048.86247 PARTs
Blocktime: 120 Seconds
Blockreward: 1,24 PARTs
Block Size: 2 MB
Time for coins to reach maturity (to be able to stake): 225 Confirmations (+/- 8 hours)
Yearly Staking Interest Rate: Minimum 4% decreasing by 1% every year, bottoming at 2%.
SegWit (Segregated Witness) and Atomic Swaps enabled.
Currently, Particls TPS (Transactions-per-second) capabilities are 85 T/s. (default SegWit)
Particl is planning on implementing the Lightning Network (LN) to greatly increase this number in the future.
Via Smartcontract functionality, Particl holders can delegate their stakingweight to empty staking nodes. (these nodes contain no coins)
By delegating your weight to these staking nodes, the user can essentially stake on behalf of those nodes, not needing to being connected to the network, resulting in offline staking.
This means that the user doesn’t need a wallet that is connected to the network non-stop to actually stake his Particl to benefit of the current 4% annual interest rate.
On top of not having to be connected to the network 24/7, Particl Cold Staking is also quantum resistant and anonymous.
Users can build dezentralized applications that can be integrated directly into the Particl Desktop.
This desktop only consists of the Particl Wallet at the moment, with the Particl marketplace being in alpha stage.
The marketplace will directly be implemented into the Desktop, so your wallet and marketplace can be accessed by the Particl Desktop all in once.
Slick and easy to use.
Decentralized Marketplace; (currently in alpha stage)
In my opinion the heart of the project. The decentralized marketplace will be the first dApp built upon Particl.
This decentralized marketplace will directly be implemented into the Particl Desktop, where you can buy and sell all kinds of goods and services without risk of getting scammed.
Particls Marketplace will be governed by the community of stakers.
Since the marketplace will be fully anonymous, the risk of unwanted items being listed on the marketplace is high.
This is where community governance comes into play.
All public listings on the marketplace can be flagged by the community, and once a listing gets a certain flag threshold, the listing is taken out of the marketplace.
Note that this is not possible for private listings, since private listings do not appear on the public interface of the marketplace.
I have tested the marketplace alpha myself and I must say that I’m impressed by the Particl desktop.Having the marketplace and the wallet all in one place makes it very user-friendly in my opinion.
Marketplace Alpha Showcase
How particl solves the issue of “trust” when selling/buying goods/services online;
Particl uses the Bitcoin Improvement Proposal (BIP) 65 opcode to enable Mutually Assured Destruction (MAD) escrow contracts by locking funds in a secure multi-sig address until all of the concerned parties sign off on the transaction.
The seller starts by depositing an amount they want the buyer to match to symbolize a virtual handshake as form of insurance.
Optimal MAD odds are achieved when the insurance deposits equals the amount of the items purchase price. This isn’t required though, the insurance can range from 0 to 100% of the items purchase price, as indicated by the seller.
Afterwards, the buyer deposits the matching amount on top of the items purchase price, and both the funds of the seller and buyer are then locked in the MAD escrow contract.
The escrow funds are not to be released to any party until both buyer and seller confirm that the transaction has been completed to both their satisfaction.
The MAD smart-contract has a timer that runs for a pre-determined amount of time (which can be extended if both parties agree).
If this timer runs out, both the funds of buyer and seller are permanently locked in the smart-contract, essentially destroying/burning the funds.
This prevents either party from maliciously delaying and hindering the escrow service.
Once both parties are satisfied with the outcome of the transaction, they confirm the transaction.
Only then, the items escrow funds are released to the vendor and the insurance deposit is refunded to both parties at no cost (0-fee).
The Particl Foundation
This enables the Particl Foundation to the organization and deployment of funding, aswell as the status of the Foundation providing legal protection and resources to the Particl Project.
Particl Foundation Funds, and where they come from;
First of all, from the tokenswap from Shadowcash to Particl (1 to 1 SDC to PART) and also from a Bitcoin donation campaign that lasted from March 17th 2017 to April 15th 2017 raising a total of approximately 590 BTC.
The Particl Foundation also holds 996000 PARTs meant for a second funding round scheduled for Q1 2019.
On top of that, 10% of all blockrewards are allocated to a fund, controlled by the Foundation.
These funds are to be used to support and promote the Particl project.
This can vary from hiring developers, to initiating marketing and PR Campaigns, over to establishing global partnerships, but also to generate community engagement and to advocate for privacy and security in society.
I like Particl.
The desktop is something I have never seen before in Crypto. The marketplace looks really good, and I can’t wait for it to be ready for official launch.
Inflation is relatively low, but the passive income can still amount to something, especially regarding that altcoins all across the board took massive hits as of late (price wise), and Particl did too.
They have a lot on their roadmap, and if they can achieve what they aim for, I’ll be very happy to be invested in $PART.
The standouts for me are coldstaking, the marketplace, and Blacklightning/Blindlightning. (not sure if it’s possible, but if it is, it would be huge in my opinion)
Sources and important links
I have been compensated to write this article. Non of the input in the article has been pre-written by anyone from Particl.