Particl Teases New “First Time in Crypto” Announcement

Particl, the privacy-focused, currency-agnostic payments project modeled on Bitcoin, has teased a new announcement on Twitter, claiming it will be a never-before-seen feature in cryptocurrency.

The announcement was first made on Particl’s Discord server, but there is little indication of what it might be. The team has also scheduled an AMA for August 17, which will likely be when they answer the public’s questions regarding the announcement.

Particle is an open-source privacy-centric marketplace that runs on Proof-of-Stake consensus and uses RingCT to ensure privacy. One of the key features of the project is that it is currency agnostic, meaning that it accepts all cryptocurrencies. The company’s mission is “to empower society by fostering a new decentralized, private and democratic economy supported by its blockchain platform.

Similar to projects like Sapien Network, which grants users the power to shape a social media network, Particl gives coin stakers the power to shape its marketplace. The team has likened the marketplace to eBay, with the difference being that it is P2P in nature. The project’s token, PART, uses Segregated Witness and is Lightning Network compatible.

Privacy and Dapps Viewed as Key to Success

Particl’s privacy feature comes in three different styles: public, blind, and anon. The better the privacy offered, the more costly the transaction. Public transactions are the cheapest and function identically to Bitcoin’s pseudonymous transactions. Blind transactions utilize the Confidential Transaction (CT) protocol to ensure that only the participants can view the amounts. Anon transactions use RingCT (made popular by Monero) to hide both participants’ identities and transaction amounts, but is the most expensive kind of transaction.

The team has an ambitious vision for the project, expecting DEX, file hosting, messenger, and gambling dapps to be built on the platform. Dapps form an important role in the project, as it allows for several different services to flourish on the platform.

The staking mechanism (which grants a 5% annual gain to stakers who stake their tokens to secure the network) in conjunction with dapp development, user-governance, currency agnosticism, and privacy options, is what the team hopes will spur the project into becoming the eBay of the digital currency age.

Particl is available for desktop, with a wallet available for both desktop and mobile devices.  

Related: 3 Undervalued Cryptocurrencies to Invest in

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