Have you ever wondered how to trade on currency tokens safely? Well, here is the Particl platform which is a privacy platform that enables two parties
Have you ever wondered how to trade on currency tokens safely? Well, here is the Particl platform which is a privacy platform that enables two parties involved in token currency trade to make confidential transactions without the need of involving third parties. This tool offers encrypted communication tools for currency tokens in the marketplace between buyers and sellers all over the world. It is the first DAPP mechanism built on Bitcoin having the support of executing Confidential Transactions between traders.
This ensures that the funds transferred are only visible between the two parties transacting and ensuring that there is no spending more coins than the available in a cryptographic view.
Secured messages and group chats directly
Communication is done through encryption via the client side which is similar to WhatsApp and the messages then stored securely in the DSN. The meesages are off-chain to prevent network breakdown hence very convenient in microtransactions enabling fast input and output. This system will also be used to store the market listings too.
End-to-End Encrypted Chat
The end to end encrypted chat is a good option as one can buy and sell coins anywhere via the online platform the same way as buying from Amazon or eBay. The only difference is that these chats are self-governed and distributed instead of using a central server, it’s just like shopping from a local market without the need of a broker or a third party.
A Source of Passive Income
When you become a stakeholder, you get an opportunity to earn even if you don’t buy or sell anything. The network is proof of stake secure hence by running Particl and staking your coins, you directly work for the network, and you are rewarded with tokens. It is expected that the network will dominate and the market increases hence the reward you work for will also increase. The annual inflation of token parts is 5% over the first year, dropping to 1% every year till the 4th year where it sustains to 2%.
The Voting Governance
The Particl has an inbuilt decentralized voting which offers the stakeholders total control over the market. The Particl is protected to make sure that the market never becomes a silk road version thus having the aim of reaching self-governance model which can be adapted to the decentralized network. This self-governance will have two parts which are the platform governance which is protection against illegal goods and the privacy governance which deals with how to protect the user privacy.
The Party Trustless Escrow
Having combined the above features will allow two parties to transact with complete anonymity. The insurance deposits as explained by the white paper makes this possible with insurance deposits that can be set by a seller to range from 0 to 100% the value of the product on the market
It is Crypto Friendly
Particl will support many cryptocurrencies with the aim of becoming an inclusive platform. Having a decentralized platform which aims for free markets can’t be limited to its only inbuilt tokens. Therefore, they are aiming to remove barriers and minimize friction currently facing the online shopping platform allowing more users to adopt the system globally. This will improve the use case for all crypto-currency tokens thus provide more value and liquidity on the whole sector