Particl, a blockchain-based startup creating a peer-to-peer marketplace, has brought on a big name to their advisory team in Charlie Shrem. Particl’s founder, Ryno Mathee, has said that they are “excited to get some input from an industry heavyweight.” According to their press release, Shrem will participate in the project as a Strategic Advisor.
The addition provides credibility to the startup as Shrem is a prominent figure within the Bitcoin community, having co-founded one the the first and largest Bitcoin companies, BitInstant, in 2011.
Shrem commented on the news, saying he is especially interested in the project’s privacy-centric focus -- believing every cryptocurrency ought to prioritize both privacy and fungibility.
“As I see privacy, fungibility and ease of use the main pillars for any crypto. What if there were no needles in the haystack?”
Shrem is just the latest addition to the Particl project, with the team also adding another member earlier in December. Lachlan Kang, currently a PhD student at the University of Adelaide in Australia, was brought on as a developer whose focus will be on the Marketplace command line interface.
Lachlan’s research focuses on defeating anonymity networks such as Tor through use of tracking technologies such as browser fingerprinting, traffic analysis, and website fingerprinting.
The project itself revolves around the two main values: cryptocurrency agnosticism and privacy, with the team characterizing it as a framework for “privacy Dapps.” The main part that the developers are working on is right now is called the Particl Market, which is a decentralized marketplace focused on privacy and is intended for users to buy and sell things without a 3rd party middleman.
What's more is that
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 to the protocol.
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.
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.
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