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A monthly collection of developments from the team, in the news and in the community:
Particl is the first DAPP built on Bitcoin with Confidential Transactions
Confidential Transaction keeps the amounts transferred visible only to participants in the transaction (and those they designate), while still guaranteeing that no more coins can be spent than are available in a cryptographic way.
Find out more about Confidential Transactions at The Elements Project
Can you earn money from eBay or Amazon by just having your computer on?
Particl offers stakeholders the opportunity to earn income even if they don't buy or sell anything on the Market. Our network is secured by Proof of Stake, which means by running Particl and staking your coins, you work for the network and the reward for that work is PART tokens. As the popularity of the Particl platform and the Market specifically increases, the rewards to work for the network will also increase. Annual inflation of PART tokens is 5% the first year and drops 1% each year until year 4 where it levels out at 2%.
End-to-End Encrypted Chat
Particl's private communication tools provide direct messages and group chats
All encryption is done on the client side, similar to Signal or Whatsapp, and stored within the DSN. Messages are off-chain as to not bog down the network with micro-transactions and to facilitate immediate input/output. DSN stands for Data Storage Network. Section V.A of our whitepaper explains our current research into DSNs and how they'll be used for storage of communication and market listings.
Particl is a privacy platform by design
The native marketplace, currency tokens and suite of encrypted communication tools offer unfettered access between buyers and sellers worldwide or just down the street.
Our privacy tools allow two parties to interact in complete anonymity without the need for any 3rd parties.
Buy, Sell and Earn in complete confidentiality anywhere in the world.
Particl Market will be an attractive option for anyone who buys or sells anything online. You can buy or sell anything, similar to eBay, Etsy or Amazon, except that all the transaction data, payments and conversations happen over a self-governed, distributed network instead of a central server. Think of it as going to a local market to buy something you need, from the person who is actually selling it, without a third person as an intermediary.
Particl comes with built-in decentralized voting to give stakeholders ultimate control of the network.
The very nature of a free-market built on a distributed network immediately brings up the question of governance. To get right to the point, Particl has protection to ensure the market does not become an ultimate version of Silk Road. Our main focus is researching self-governance models that can be adapted to a decentralized network.
The self-governance model for Particl will have two components to it:
- Platform Governance. Protection against illegal goods. "How do we protect the platform?"
- Privacy Governance. Providing user privacy. "How do we protect the users?"
2-Party Trustless Escrow
The combination of features allows two untrusted parties to interact in complete anonymity without the need for any 3rd party.
The Mexican standoff! We put two untrusted parties into Nash Equilibrium through a military strategy known as MAD (Mutually Assured Destruction) so that neither party has anything to gain by scamming one another.
Section IV.c of our whitepaper explains the "insurance deposits" concept that make this possible. Insurance deposits are set by the seller and can range from 0—100% of the value of the item being sold.
Particl is currency agnostic, meaning it will support the use of many cryptocurrencies with the intent of being an inclusive platform.
A decentralized privacy platform focused on free markets cannot be limited by its own built-in token system. Our goal is to lower barriers of entry and reduce friction in online shopping, allowing for easier adoption by buyers and vendors anywhere in the world.
Our definition of "crypto-friendly" is improving the use-case for all crypto-currency tokens, providing increased liquidity and value across the sector.
Meet the Team
The Particl Team
Ryno MatheeLead & Core Developer
Gerlof van EkDeveloper, Branding & Graphics, UI/UX
ShazzyResearch & Development
Henk SwardtProject Manager, PMP, CSM
Martin AllienFront-end Developer
Ido KaiserDeveloper & Software Architect
TecnovertCore Developer & Cryptographic Researcher
ImranCommercial & Partner Strategy
Micah SpruillBusiness & Finance – Managing Partner, Aurora Investment Advisors
Yann AllemanBusiness & PR – Engineer, Ferrari A.G.
Joe FisherE-Commerce Strategy – Private label online seller, Product Developer
Cryptoguardr/Particl Moderator, Writing
PART is the native token on the Particl platform