The World’s Most Private Way to Buy Anything Online
The Particl team is excited to announce that leading privacy coin Zcoin will be added to Particl’s decentralized marketplace and desktop application on the 6th of July 2020 at 3:00 PM UTC. This will allow you to easily top up your Particl account using Zcoin to privately buy anything on the Particl Marketplace. Zcoin is the first cryptocurrency, after Bitcoin, to be added to Particl as an alternative account funding option.
Adding Zcoin to Particl provides the Zcoin community with a safe way to spend their Zcoin without any intermediary and without leaving any digital footprint behind. No transaction data, no personal information or communications collected, no metadata, no nothing. To learn more about how the Particl Marketplace protects your online privacy, read this in-depth blog post about it.
For Particl, it extends the marketplace’s accessibility by enabling one more payment option. It also lets you make even more private transactions when shopping online by combining the benefits of Zcoin’s privacy protocol with Particl’s.
This news comes ahead of Particl V3.0, the biggest update to Particl’s marketplace ever, and will give Zcoin fans a taste of things to come. To learn how Particl V3.0 is going to completely change the game, read this blog post about it.
To discuss the release, Zcoin’s Project Steward Reuben Yap and Particl ambassador Dr. Kap will get together for an onboarding talk that will be published on Particl’s Youtube channel on the 6th of July at 3:00 PM UTC.
Note: All purchases made on the marketplace are ultimately settled in PART. That’s because payments need to be secured by Particl’s two-party escrow smart-contract. This gives you protection against online scams and keeps your personal information safe from any third-party. Learn more about Particl’s two-party escrow system here.
A Perfect Match for Privacy Nuts
The most interesting aspect of topping up your Particl account using Zcoin is the compounding effect gained from combining different privacy protocols together. Whether you’re primarily a Zcoin or a Particl user, you can significantly raise your level of privacy and security when shopping online with this simple trick.
Different Approaches to Privacy
Zcoin and Particl adopt fundamentally different approaches to privacy and anonymize cryptocurrency transactions in different ways.
Zcoin uses what is known as SIGMA and will soon move to its evolved version — Lelantus. It is a zero-knowledge protocol that basically burns coins and redeems them at some later point without any trail of how it got there being visible. It also allows direct anonymous payments by giving the “right to redeem coins” to someone else. This privacy protocol completely breaks the traceability of transactions.
Particl, on the other hand, doesn’t destroy and redeem coins. It instead uses RingCT to mix coins with others and uses “decoys” to obfuscate the payment trail even more. Because RingCT transactions are mandatory for all marketplace transactions, it protects users not only with strong cryptographic privacy but also credible plausible deniability.
Both of these approaches (burning/redeeming vs mixing) have their pros and cons. For example, Zcoin may break the traceability of transactions more definitively but Particl allows for a lot of flexibility which is a must since its marketplace relies on privacy-oriented smart-contracts. As always with this kind of technology, there is never a clear winner and neither should there be. So why not mix both protocols and get the best of both worlds?
With just a few extra steps, you can combine the benefits of both privacy protocols and get a much better level of online privacy when shopping online.
All you need to do is to first make a private transaction on the Zcoin network, redeem your coins, and use them to top up your Particl account with Particl Desktop’s in-app swap engine. This same process can also be done when checking out your cart on the Particl Marketplace.
Simply follow these steps:
- On Zcoin, execute a private XZC transaction.
- Redeem the coins into a public address (ideally in a fresh wallet for added privacy)
- Open up Particl Desktop and initiate an XZC to PART swap
- Send the PART you’ve received from the swap to an anon balance
- Shop online in total privacy (SIGMA + RingCT)
Following this simple trick will significantly improve your privacy when shopping online. Tracing back the payment back to you would not only require the Particl network to be deanonymized but the Zcoin network as well.
Since both protocols are so fundamentally different, RingCT and SIGMA zero-day exploits are less likely to affect both protocols at the same time. If one protocol ever fails, you know the other’s protecting you as a backup!
Note: Protecting your transaction information when shopping online is just one step of the giant puzzle. Particl also natively protects your online identity, secure your communications, doesn’t collect or even generate any metadata about you, and lets you hide your network identity (IP address). To see all the ways that Particl protects your online privacy, read this in-depth blog post about it.
What Coin Would You Like to See on Particl?
Adding Zcoin is only a beginning. As Particl is a marketplace for everyone, many more cryptocurrencies will be making their way onto Particl in the coming future.
What coins would you like to see next? Are you a fan of a particular crypto community and would love to use your favorite coin on Particl? Then let the team know by filling the listing application form located on Particl’s website.
Zcoin (XZC) is an open-source, decentralized privacy coin that focuses on achieving privacy and anonymity for its users while transacting on the blockchain. It is the first to develop and implement the Sigma Protocol, which allows users to have complete privacy over their transactions via zero-knowledge cryptographic proofs without the need for trusted setup. Its research labs also created the Lelantus privacy protocol which has gained academic acclaim and set to go live on Zcoin in 2020.
In 2018, Zcoin made history by having the Thai Democrat Party’s elections held on its blockchain with over 127,000 votes cast nationwide.
Particl is a privacy-first and worldwide censorship-resistant eCommerce platform built on blockchain and peer-to-peer technology. It restores the balance of power towards the individual, not corporations or authorities, by decentralizing core aspects of today’s internet and economy.
The Particl Marketplace is a decentralized and reliable multi-vendor marketplace that lets anyone in the world buy and sell anything, without leaving a trace. It eliminates the problems of trust, personal data abuse, and enrichment of large corporations. It preserves privacy at any time and enables a trading scope for unbeatable product pricing. Free of any third-party interference, it creates a fair level playing field.
The Particl coin (PART) is the native currency of the Particl Marketplace. It is a privacy coin that offers strong but flexible data protection and privacy capabilities using a combination of the Confidential Transactions (CT) and RingCT (with Bulletproofs) privacy protocols. It is the first coin built on the Bitcoin codebase to ever make these protocols available.
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