Particl

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Discover Particl's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Particl?

Particl (PART) is a decentralized, open-source cryptocurrency built on the Bitcoin codebase. It is designed to power e-commerce and financial platforms, offering a secure, confidential, and highly scalable environment. PART features adjustable levels of privacy, including public, blind, and anonymous transactions, ensuring user financial sovereignty. The platform supports decentralized applications, a private marketplace, and a decentralized exchange (DEX), all of which are powered by the native PART coin.

How is Particl used?

Particl (PART) is the native and settlement currency of the Particl ecosystem, which includes the Particl Marketplace and other applications. It is used for various purposes within the ecosystem, including:

  1. Seamless Access to the Particl Marketplace: PART is required to participate in the marketplace, where users can engage in private, peer-to-peer transactions.

  2. Democratic Governance: PART holders can participate in the project's democratic governance, allowing them to vote on important project decisions and proposals.

  3. Staking and Passive Income: PART can be staked to support the network, earning users passive income in the form of dividend-like payments.

  1. Near-Free Payments: PART transactions are designed to be highly affordable, with costs of just a few cents or less per transaction.

  2. Borderless Payments: PART enables fast and secure borderless payments that settle in a few seconds without the need for intermediaries.

  3. Security and Privacy: PART incorporates advanced privacy features such as Confidential Transactions, RingCT, Stealth Addresses, and Bulletproofs to ensure secure and private transactions.

  1. Atomic Swaps: PART supports atomic swaps, allowing for trustless and decentralized exchanges between different cryptocurrencies.

  2. Hardware Support: PART can be stored and managed securely using hardware wallets like Trezor and Ledger.

These features make PART a versatile and secure cryptocurrency for various use cases within the Particl ecosystem.

How do I store Particl?

To store Particl (PART) tokens securely, you should use a private wallet where you have full control over your private keys. This ensures that your tokens are protected from unauthorized access. It is recommended to keep only the minimum amount needed on exchanges and to do your own research before choosing a storage method.

How to buy Particl?

To buy Particl (PART) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports your preferred payment method and policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Ensure you understand the differences between hot and cold wallets, as hot wallets are suitable for frequent trading while cold wallets are more secure for long-term storage.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. You will receive a secret recovery phrase or seed words, which are crucial for recovering your wallet in case of loss. Record these carefully.

  3. Buy a Base Currency: Choose a cryptocurrency exchange platform and purchase a base currency, such as Bitcoin, Ethereum, or Tether. This will be used to trade PART and other coins. Start with a small amount to minimize risks and be aware of market trends, trading fees, and crypto taxes.

  1. Transfer Funds to Your Wallet: Withdraw your base currency to your crypto wallet. Log into your exchange account, provide your wallet address, and specify the amount to transfer. Wait for the funds to appear in your wallet.

  2. Select a Decentralized Exchange (DEX): Choose a DEX that supports your wallet. Ensure the exchange has sufficient liquidity for the trading pair you want. Popular DEX options include Pancake Swap.

  3. Buy Particl (PART): Connect your wallet to the DEX and select PART from the list. Enter the amount you want to trade. Be cautious of market hype and diversify your portfolio to minimize risks.

  1. Check for Smart Contracts: If PART is not listed on the DEX, use tools like BscScan or Etherscan to find the smart contract address. Be cautious of scams and ensure you have the correct contract address.

Additionally, you can explore various exchanges that support PART, such as Bittrex, ProBit Exchange, and Bitbns, to find the best option for your needs.

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History of Particl

Particl (PART) is a privacy-focused cryptocurrency built on the Bitcoin Core codebase. It was designed to provide a secure, scalable, and private platform for decentralized applications and transactions. The project aims to foster a decentralized, private, and democratic economy supported by its native currency, PART.

Particl's codebase is derived from Bitcoin, ensuring stability and security. It is always updated to the latest Bitcoin version, allowing developers to leverage and fork products, services, and technologies from the Bitcoin developer community. This integration enables Particl to benefit from Bitcoin's stability and security while incorporating modern features like Segwit, HD wallets, multi-sig addresses, and more.

The project includes a decentralized marketplace, which is built with privacy at its core. This marketplace offers a low-cost, secure, and scalable e-commerce experience, designed to work with almost any cryptocurrency. It uses various privacy-enhancing features such as default private transactions, encrypted data, secure messaging, and IP address anonymization.

Particl's native currency, PART, is a privacy coin that can be sent in three different privacy states: Public, Blind, and Anonymous. Each state has its own degree of privacy and cost, providing users with full control over the linkability and traceability of their transactions. This makes Particl the first coin to deploy these privacy protocols on a Bitcoin Core codebase.

The project also features a democratic governance system, allowing PART holders to participate in decision-making processes and vote on important project decisions. Additionally, PART holders can earn passive income through staking and supporting the network.

Overall, Particl's history is marked by its focus on privacy, security, and scalability, making it a unique player in the cryptocurrency market.

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How Particl works

Particl (PART) is a cryptocurrency designed to power e-commerce and financial platforms while ensuring privacy and security. It is built on the Bitcoin codebase, incorporating several modern improvements and additional features to make it faster, more private, and more flexible than Bitcoin.

Blockchain Specifications
  • Block Time: 120 seconds, which is 5 times faster than Bitcoin.
  • Block Size: 2 MB, which is 2 times larger than Bitcoin.
  • Consensus Mechanism: Particl Proof-of-Stake (PPoS), a unique Proof-of-Stake consensus mechanism that eliminates the need for energy-hungry hardware and provides a more secure and private way of verifying transactions.
Staking and Rewards
  • Staking: Users can earn passive income by staking their PART coins to secure the network. The current yearly staking interest rate is around 7%.
  • Reward Distribution: Staking rewards are funded by two sources: the base reward and fees generated by Particl applications. These rewards are distributed to stakers in regular dividend-like payments.
Privacy Features
  • Multi-State Privacy: PART transactions can be set to three different privacy levels: Public, Blind, and Anonymous. Each level offers varying degrees of privacy and cost.
  • Blind Transactions: Transaction parties are visible on the blockchain, but the amount is hidden.
  • Private Transactions: Both transaction parties and amounts are hidden on the blockchain.
Security Features
  • Multi-Signature Wallets: Enhanced security through multi-signature wallets.
  • Hardware Wallet Support: Compatible with Ledger and Trezor hardware wallets.
Atomic Swaps
  • Interoperability: Particl's Atomic Swaps feature allows for seamless transactions between different cryptocurrencies, automatically converting incoming transactions into PART.
Governance and Community
  • Decentralized Governance: Particl's community governance is powered by PPoS, allowing users to vote on proposals using their staking power.
  • Proposal Mechanisms: The platform offers several ways to submit proposals to the community, team, or Foundation, which can then be voted on by the community.
Trading and Storage
  • Exchanges: PART is tradable on various exchanges, including Bittrex, Upbit, and Chainex, as well as non-custodial exchanges like Changelly and CoinSwitch.
  • Wallets: PART can be stored in users' private wallets, ensuring control over financial data.

Overall, Particl (PART) is designed to provide a secure, private, and flexible cryptocurrency for e-commerce and financial platforms, with a strong focus on community governance and decentralized decision-making.

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Particl's strengths

The token Particl (PART) has several strengths that make it an attractive option for users and investors:

  1. Privacy and Security: Particl offers a high level of privacy and security through its use of advanced technologies such as Confidential Transactions (CT), RingCT, Stealth Addresses, Bulletproofs, and Taproot support. These features ensure that transactions are secure and private, giving users control over their digital assets.

  2. Scalability and Speed: Built on the latest Bitcoin codebase, Particl benefits from the stability and security of Bitcoin while also incorporating features like Segwit and the Lightning Network, making it highly scalable and fast. Transactions settle in just a few seconds, making it suitable for everyday use.

  3. Flexibility and Borderless Payments: Particl allows for borderless payments without the need for third-party intermediaries, making it ideal for international transactions. Additionally, it supports multiple levels of privacy, from public to anonymous, to accommodate different user needs.

  1. Staking and Passive Income: Users can earn passive income by staking their PART tokens, which also supports the network and generates fees from other Particl applications like the marketplace.

  2. Democratic Governance: Particl has a decentralized and democratic governance system, allowing users to participate in decision-making processes and moderate the Particl Marketplace.

  3. Low Circulating Supply: Particl has a relatively low circulating supply, which can contribute to its value and potential for growth.

  1. Strong Development Team: The project is led by a sizeable team of developers, managers, designers, researchers, cryptographers, and advisors, ensuring that the platform is well-maintained and continually improved.

These strengths make Particl an attractive option for those seeking a secure, private, and scalable cryptocurrency with a strong development team and potential for growth.

Particl's risks

Particl (PART), a cryptocurrency designed for e-commerce and financial platforms, carries several financial risks. These risks are inherent to the cryptocurrency market and can impact investors and users. Here are some of the key financial risks associated with Particl:

Counterparty Risk

Counterparty risk is a significant concern in the cryptocurrency space, particularly in decentralized transactions where there is no regulatory oversight. This risk arises when one party in a transaction fails to fulfill its contractual obligations, leading to potential financial losses for the other party. In the context of Particl, this risk is amplified by the lack of comprehensive regulation and the potential for fraudulent activities, hacks, and other malicious acts.

Credit Risk

Credit risk is another important consideration for Particl. This risk refers to the likelihood that a borrower will default on a loan or debt obligation. In the context of Particl, credit risk can manifest in various ways, such as through lending platforms or other financial services that rely on counterparties to fulfill their obligations. A borrower's creditworthiness, as reflected in their credit score, plays a crucial role in assessing credit risk.

Market Risk

Market risk is the possibility that the value of Particl will fluctuate due to changes in market conditions. This risk can result from various factors, including changes in supply and demand, global economic trends, and regulatory developments. Market risk can lead to significant losses for investors if the value of Particl declines.

Liquidity Risk

Liquidity risk is the possibility that an investor may not be able to quickly sell or exchange their Particl assets at a fair price. This risk is particularly relevant in the cryptocurrency market, where liquidity can be limited. If an investor needs to liquidate their assets quickly, they may face significant losses due to the lack of buyers or the need to sell at a discounted price.

Operational Risk

Operational risk refers to the potential for losses due to inadequate or failed internal processes, systems, and people, or from external events. In the context of Particl, operational risk can arise from issues with the blockchain, smart contracts, or other technical aspects of the platform. This risk can also manifest through security breaches, mismanagement, or other internal failures.

Regulatory Risk

Regulatory risk is the possibility that changes in laws, regulations, or government policies will negatively impact the value or usability of Particl. As governments and regulatory bodies increasingly focus on the cryptocurrency space, there is a risk that new regulations could restrict the use of Particl or impose significant compliance costs on businesses that deal with the cryptocurrency.

Smart Contract Risk

Smart contracts, which are self-executing agreements built on blockchain technology, are an integral part of the Particl ecosystem. However, these contracts can be prone to coding errors and vulnerabilities, which can lead to financial losses or manipulation of contract terms. This risk is particularly relevant in the context of Particl's marketplace payments and settlements, which rely on anonymous escrow smart-contracts.

Exchange and Custodial Risk

Particl users rely on exchanges and custodial services to trade and store their assets. However, these entities can be susceptible to security breaches, insolvency, or mismanagement, posing substantial risks to users. It is essential for users to carefully assess the reputation and security measures of exchanges and custodians when engaging in Particl transactions.

Risk Management

To mitigate these financial risks, it is crucial for investors and users to conduct thorough due diligence on counterparties, exchanges, and custodians. Implementing best practices in risk management, such as diversification and regular portfolio rebalancing, can also help minimize potential losses. Additionally, staying informed about market developments, regulatory changes, and technical updates can help investors make more informed decisions about their Particl assets.

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Did Particl raise funds?

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Particl’s team

  • The Team Behind Particl: The Particl project is supported by a dedicated team of 19 people, including developers, managers, designers, researchers, cryptographers, and a treasurer. The team values privacy and often works anonymously, but they have demonstrated a strong commitment to delivering on their vision of a private, decentralized digital economy.

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