Particl, billed as a decentralized marketplace, has announced that they will be adding known Bitcoin evangelist and early investor, Charlie Shrem, to their advisory team. The addition provides credibility to the start up as Shrem is a prominent figure within the Bitcoin community, having co-founded one the the first and largest Bitcoin companies, BitInstant, in 2011.
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Particl has claimed to be the first ever dapp built on top of the bitcoin codebase that includes confidential transactions as part of its functionality. The network uses a proof-of-stake protocol, which is an alternative to the typical proof-of-work algorithm used by many other cryptocurrencies that allows users to stake their coins and earn interest on them.
Furthermore, the platform is intended to be “crypto-friendly,” meaning that while it will have a native built-in token, it will not limit exchange to just its native token. Thus, allowing users to buy goods on their marketplace with a variety of different cryptocurrencies.
Charlie Shrem commented on becoming an advisor to the Particl project, saying that the privacy-centric nature of the peer-to-peer marketplace is exactly what he wants to see in a blockchain-based platform and in a cryptocurrency.
“I’m excited to be working with Particl,” says Charlie Shrem. “As I see privacy, fungibility and ease of use the main pillars for any crypto. What if there were no needles in the haystack?”
The addition of Shrem would seem to mesh nicely with Particl’s decision to build off Bitcoin rather than Ethereum, a unique quirk in an age of Ethereum-based projects, considering Shrem’s early support of the currency that ultimately helped to bring about its current level of success.
Particl uses Bitcoin as its base, creating a more privacy-oriented variant of its blockchain-based design. It simply modifies the vetted protocol, including features intended to enhance its privacy compared to the original Bitcoin code The team claims that no other project has included privacy improvements on Bitcoin; adding confidential transactions and ring confidential transactions.
The project is not, however, simply layered on top of Bitcoin’s blockchain. Instead, it has created its own blockchain platform that gives them ability to do a lot more with their native token (PART), offering voting rights, governance control, and income through interest via the the proof-of-stake consensus algorithm.
Particl project founder, Ryno Mathee, believes that with Shrem’s help they will be able to quickly grow their vision and potentially improve upon it with his added input.
“We are excited to get some input from an industry heavyweight, Charlie’s influence and experience will help us grow tremendously.”
Becoming the team’s Strategic Advisor, he will advance the implementation of their core beliefs that includes privacy and an agnostic take on cryptocurrencies in general.
The team plans on releasing the alpha version of their marketplace in the beginning of 2018 and will not be meant for just Particl users. The team believes that moving forward Shrem, as a trusted name in the cryptosphere, will be important in helping them establish relationships with other projects and organizations.
Visit the Particl Website: https://www.particl.io