The intelligent investors guide to Particl (PART): Part 1 - What is Particl and what is the purpose of the PART token?

Particl is a PoS chain using the native PART token.

The purpose of a dedicated chain is for the privacy centric and optional anonymity aspects of it.

The PART token can either be transferred as a public token or as a private token via use of CT and RingCT to obscure sender and amount.

The PART token also confers voting rights proportional to stake of network owned for the onchain governance and voting mechanisms.

There is also a MAD escrow service they are building in; a trustless escrow system which requires no third party. Using only the native PART token simplifies this mechanic.

 

It is for these reasons and the simple economics of incentivisation that all currencies fed into particl will be converted to native PART token via integrated shapeshift function prior to use on the particl network.

Particl is a modular framework and yes smart contracts mechanisms are involved on the bitcoin core codebase it uses. Their use of ringCT and focus on truly trustless privacy and anonymity is partly why they avoided ETH but also wish to sidestep any possible scalability issues present in ETH currently or bloat issues of launching a highly focused but intensive product. I'm sure there's a bit of ego to prove their coding chops too.

 

The first major module they plan to launch in Q1 2018 is the decentralised marketplace and communications platform.

 This marketplace will allow for:

 Public and private listings of goods for sale (private listings only viewable if the key is known),

• RingCT to facilitate truly private transactions but also a public token to facilitate non-anonymous one's.

• Encrypted end to end messaging including group messaging.

• Filters and categorisation systems to help find goods.

• Automated shapeshift integration to automatically convert multiple the 67 and growing cryptocurrencies currently supported by shapeshift into PART for transacting on the Particl network.

• Modularity allowing for widgets and other tools to be built in and plugged into the particl network providing an interface to link other decentralized exchanges and tools to the main marketplace as well as the particl ecosystem.

• Atomic swaps (like LTC and DCR) to allow frictionless transfers and conversions of tokens.

 

On minimum viable product release (Q1 2018) the marketplace should be essentially complete in the sense of publicly usable minus the reputation systems they plan to implement after.

 

Further reading:

• The importance of decentralized marketplaces in cryptocurrency: An analysis of the value proposition, current problems and solutions.

• Particl.io – Easy, Secure and Private P2P Marketplace Introduction

• How 'Cryptocurrency Agnosticism' Could Impact the Industry

• In-Depth Presentation of the Particl Project

• Particl Project articles

 

I believe Particl if realised as designed will impact ecommerce massively on a paradigm shifting level. Simply put commerce without borders and a massive boon for sensitive transactions.

 

I am ignoring all price activity for now. The project will not use it's funds to needlessly hype and will likely deliver the marketplace minimum viable product in Q1 2018 to justify it and silence all critics.

 

This is because the team (which is now greatly expanded and actually funded) have been heavily criticised for not delivering in the past (as the much smaller, unfunded SDC prior to setting up their foundation) in spite of the history showing clear development (actually rapid for a project of this nature) and currently meeting all milestones given.

 

From a speculative point of view there are numerous reasons to preferentially invest in Particl:

 

• Holding tokens confers true stakeholder ownership of the network,

• Receipt of transaction fees proportional to stake and number of transactions on the network.

• Receipt of interest but with decreasing annual inflation rate (5% PA year one to flat 2% year 4 onwards) to facilitate early adoption.

• Limited token supply with significant lockup due to PoS. When marketplace is launched if used, the buy demand on PART will be massive relative to circulating supply even for small scale use of the marketplace which should drive up the price of PART massively.

In the following parts of this series I will demonstrate how if Particl is successful it is a literal juggernaut in the making as far as use cases, speculative returns and technology advances in crypto go.

By: Joskye