Particl Privacy Coin (PART)

PART is Particl’s native coin and has several use cases on the Particl Platform. It is a coin with a particularly strong economic model compared to most cryptocurrencies and is designed to generate demand by usage of any Particl Dapp. PART is a top-tier privacy coin, a voting right, a fuel for the Particl Platform, a potential source of passive income, and has great scalability parameters, meaning it can manage big amounts of transactions at the same time without getting slower, and do so without requiring any sort of compromise on decentralization or security.

PART is a coin with various degrees of privacy to accommodate all types of users and is required to use the Particl platform’s marketplace and Dapps. As Particl is a native Segwit blockchain, all transactions use Segregated Witness (Segwit) by default making the platform very scalable and Lightning Network-ready.

Codebase Bitcoin Core 0.17.1.3
Consensus Mechanism Particl Proof-of-Stake (PPoS)
Total Supply 9,263,396 PARTs
Circulating Supply 8,267,396 PARTs
Particl Foundation Fund 996,000 PARTs (10.99%)
Block Time 120 seconds
Block Reward ~1.27 PARTs
Block Size 2 MB
Time for coins to reach maturity (be able to stake) 225 confirmations (~8 hours)
Yearly Staking Interest Rate Min. 4%, decreasing 1% every year until it plateaus at 2%
Segwit Enabled by default for all transactions
Atomic Swaps Enabled
Privacy Protocols Confidential Transactions (CT) and RingCT (testnet)
Lightning Network Coming soon (roadmap)
Bulletproofs Enabled (testnet)

Last updated: 06-03-2019

Bitcoin Core 0.17.1.3 Codebase

PART is a privacy coin built from the Bitcoin Core codebase and is always updated to its latest version (currently 0.17.1.3). PART is hosted by its own blockchain and is not a token built on another chain (i.e. ERC-20 tokens).

Being built on the latest Bitcoin codebase not only allows the Particl platform to benefit from both Bitcoin’s stability and security, but also enables developers to leverage and easily fork any product, service and technology development from the Bitcoin developer community. Recent Bitcoin developments include but are not limited to Segwit, HD wallets, multi-sig addresses, block pruning, fast syncing, easy tor setup, watch-only wallet support, libsecp256k1 signing and signature validation, and most importantly a fix to the node-bricking bug that was recently disclosed at Breaking Bitcoin 2017.

Additionally, Bitcoin being the most integrated and worked with codebase in the industry makes Particl’s code much easier to integrate than lesser known codebases.

Multi-State Privacy

The Particl coin can be sent as three different privacy states, each with their own degree of privacy and cost. As the highest privacy state requires the most transaction fee, it may not always be the best type of transaction depending on the situation, especially when privacy is not predominantly required by the user.

Public

This type of transaction is pseudo-anonymous, just like Bitcoin. Public transactions are publicly auditable on any Particl block explorer and offer the least amount of privacy. They are the cheapest transactions to execute and is the default privacy setting.

Blind

This type of transaction uses the Confidential Transaction (CT) privacy protocol developed by Bitcoin Core developer Gregory Maxwell to keep the transferring amounts visible only to the transaction participants (and those they designate), while still guaranteeing the transaction’s cryptographic integrity. This is a mid-level privacy option and is more expensive than public transactions, but cheaper than anon transactions. Mathematical and cryptographic details related to the CT privacy protocol are available on Maxwell’s original investigation into the protocol. Particl is the first coin in history to deploy this technology on a Bitcoin Core codebase as well as on top of Segwit.

Anon

This type of transaction uses the RingCT privacy protocol developed by Shen Noether to hide both transferring amounts and participants’ blockchain identity by combining Cryptonote’s ring signatures and Maxwell’s CT protocols. It is the one of the highest level of trustless privacy protocol the crypto industry has to offer and was made famous by Monero. It is also the most expensive privacy setting to use. Mathematical and cryptographic details related to the RingCT privacy protocol are available on Shen Noether’s RingCT whitepaper. Particl is the first coin in history to deploy this technology on a Bitcoin Core codebase as well as on top of Segwit.

Bulletproofs & Scalability

RingCT transactions are much heavier than regular transactions, meaning that as the number of RingCT transactions executed increases, so does the size of the blockchain. This can become a problem when the size of the blockchain becomes too big that most people start connecting on third-party nodes instead of their own. It is also highly impractical to store full nodes on personal computers when they are several GBs or even TBs.

One solution currently under development to increase the scalability of the RingCT privacy protocol is Bulletproofs, “a new, non-interactive zero-knowledge proof protocol with very short proofs and without a trusted setup”. This protocol is expected to reduce the RingCT and CT transaction sizes by around 80% and as such, constitute a very important item in our scalability strategy. This protocol is still under research & development and is not planned for mainnet in the short-term.

Click here to read the full Bulletproofs whitepaper co-authored by Benedikt Bunz, Jonathan Bootle, Dan Boneh, Andrew Poelstra, Pieter Wuille, and Greg Maxwell.

Native Segregated Witness (Segwit)

The Particl platform is the first blockchain in the industry to ever be deployed with a native implementation of Segwit. This has the added benefit of making all transactions (including private ones) go through Segwit by default, resulting in better scalability and cheaper transaction fees. Unlike forked Segwit implementations, 100% of Particl addresses are compatible with Segregated Witness.

Segwit grants additional features to the Particl platform such as transaction malleability vulnerability protection and block capacity increase, but its most notorious feature is that it renders Particl’s blockchain compatible with the Lightning Network

Hardware Storage

A hardware wallet is a special type of cryptocurrency wallet which stores the user's private keys in a secure hardware device. They have major advantages over standard software wallets: private keys are stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext. That means your funds are safe even when connected to an infected or malicious computer or a phishing/scam web page.

Particl is currently supported by Ledger Wallet and has been integrated in such a way that it supports cold staking. That means PART coins can be stored offline on a Ledger wallet and still cold stake from any staking node. Both the facts that no password is stored in memory and that there is no required exchange of private key between the hardware wallet and the device/computer it is connected to make PPoS the most secure Proof-of-Stake protocol in the blockchain industry.

The Particl development team has also started working on a Trezor integration.

Lightning Network

The Lightning Network is a decentralized payment channel protocol first proposed by Joseph Poon and Tadge Dryja in their Lightning Network whitepaper and powered using smart-contract functionality in the blockchain to enable instant, near-zero fee payments across a network of participants.

Instant Payments

Lightning-fast blockchain payments without worrying about block confirmation times. Security is enforced by blockchain smart-contracts without creating a on-blockchain transaction for individual payments. Payment speed measured in milliseconds to seconds.

Scalability

Capable of millions to billions of transactions per second across the network. Capacity blows away legacy payment rails by many orders of magnitude. Attaching payment per action/click is now possible without custodians.

Low Cost

By transacting and settling off-blockchain, the Lightning Network allows for exceptionally low fees, which allows for emerging use cases such as instant micropayments.

Cross-Chain

Cross-chain atomic swaps can occur off-chain instantly with heterogeneous blockchain consensus rules. So long as the chains can support the same cryptographic hash function, it is possible to make transactions across blockchains without trust in 3rd party custodians.

Coin Distribution

Amount Percentage of Total Supply
Total Supply 9,011,605 PARTs 100%
Circulating Supply 9,011,605 PARTs 100%
Publicly Owned Supply 7,726,128 PARTs 85.73%
Particl Foundation Fund 1 289,477 PARTs 3.21%
Particl Foundation Fund 2 996,000 PARTs 11.05%

Last updated: 18-06-2018


Read the PART Coin FAQ. Frequently asked questions.

Learn more about the different PART currency and transaction types.

Learn more about PART Coin Staking.