Particl For Investors #1 – Introduction To Particl For Investors

Tai Zen: What’s up guys? This is Tai Zen. Today, I have some very special guests from the cryptocurrency community with me. To my right, I have the Honorable Grandmaster, Legendary,

Leon Fu: Hi there

Tai Zen: In the studio today, we also have Michael Spruill. He’s the advisor to the Particl, a privacy coin project. He’s also a veteran cryptocurrency investor.

At the top of the screen here, joining us from South Africa, we have Rhino Mattei. He is the lead core developer for the Particl project.

Rhino Mattei: Hi guys

Tai Zen: Below Rhino, in the second video, we have Paul Schmitzer. He’s broadcasting from Columbus, Ohio from the United States of America. He is the Communications Manager for the Particl project.

Paul: Hello everybody

Tai Zen: Before we get started, I want to thank for sponsoring our channel. Now, let’s go ahead and get started on this video series.

This video series will have 6 parts of the Particl project for investors. In this first part, we’re going to talk about the introduction of Particl for investors.

Before we get started though, in case you’re new to cryptocurrency investing, I want to just really quickly explain what is a bitcoin blockchain, what is special about it and why it’s important to the financial world.

This first chart here provided by Robert Palatnik. He’s the chief technology architect at a company called DTCC that stands for Depository Trust and Clearing Corporation of America. They are the largest clearing and settlement firm in the United States, and I believe it’s the largest in the world as well. They clear all the stock transactions for all the American stock trades.

The first question is what is so unique about the bitcoin blockchain that was invented by a computer scientist name as Satoshi Nakamoto.

In the past, the financial ledgers, the accounting ledgers, and all the financial institutions such as the banks and other financial institutions all stored information in one centralized location. Everybody had to come to them for information about the financial transactions that were happening at that time.

Since these institutions or the Bank controlled the ledger, they were the ones who can edit and modify them, which put them in a lot of power.

If we look in a way that each of these clusters could keep their own ledger, they would have to communicate to each other, but they would also keep their financial ledgers a secret or within them because they are the only ones that can modify that ledger.

Now, what is unique about bitcoin blockchain is every one that is a user inside the network can maintain a copy of the financial ledger. Everyone can read it. It’s completely transparent. Everyone that has access to the Internet and a computer can read it and review it for themselves. They don’t need to ask permission from the financial institutions to be able to read or to be able to add transactions to the ledger.

That’s a little quick history on what is Bitcoin and blockchain were. Now, inside the world of cryptocurrencies, there are hundreds of cryptocurrencies and they are divided into what we call buckets.

For example, in the currency bucket, we have cryptocurrencies such as Bitcoin, the original cryptocurrency, Litecoin, Dogecoin, and Tether. In the distributed computing bucket, we have a cryptocurrency projects such as Ethereum, Maidsafe, and Golem. In the privacy coin, bucket we have Dash, Particl, Monero, Comodo, Boolberry and Zcash.

In this video series, we’re going to focus inside this privacy coin bucket. Inside this privacy coin bucket, there are dozens of privacy coin projects. They are separated and categorized by the technology that they use to obfuscate the transaction history. The word obfuscate simply means to make unreadable and unclear so you cannot tell who is making the transaction or the quantity and things like that, depending upon which privacy coin project that you’re using.

There are 3 popular and well-known technologies called coin mixing, ring signatures, and zk-SNARK. Inside the privacy coin bucket, these technologies are separated into what we call sub-buckets.

For example, inside the coin mixing sub-bucket, we have cryptocurrencies such as Dash and Navcoin. Inside the ring signature sub-bucket, we have such as project such as Monero, Boolberry, Particl. Inside the zk-SNARK sub bucket, we have Zcash and Comodo.

In this video series, we’re going to focus on the Particl projects specifically. The Particl Project started its history back from ShadowCash, which came from ShadowCoin, SDCoin and Blackcoin.

Rhino, could you jump in and explain to us how this all started as well as all these names changes so that the audience will know what’s going on here.

Rhino: Sure. ShadowCash started from the (?) blackcoin code base. We actually started our own genesis blockchain. Then, there were few members joining the community and suggesting we should call it SDCoin. Actually, we first called it ShadowCoin, which was the full name. We didn’t call it at first because there was previously a (6:38) coin which just failed.

Then, as the project grew, new community members suggested we should call it ShadowCash because the term “coin” was becoming really common at that time such as Litecoin, Dogecoin, etc. Therefore, everyone seemed to like ShadowCash and we got a new consensus. Along with that, we got a new logo (7:11 – 7:12).

After that, we’ve actually decided to restart completely new project called Particl. It’s based on Bitcoin Core 0.14 instead of BlackCoin and we take a lot of features from ShadowCoin and ShadowCash like the secure messaging, the ring signatures and obviously the marketplace, which is going to be the main points of the Particl.

Tai Zen: Okay. I put a dotted line here so that the audience will know that moving forward Particl will completely sever ties with any of these previous projects. They will know that you are now completely focused on the Particl project and no longer with the Shadow project anymore.

As you mentioned, I have a few questions about the project here. You said that you’re building it on top of the Bitcoin Core 0.14 m codebase. Is the segregated witness in there already activated or the community have to activate it when they start using it?

Rhino: We starting with the segregated witness from the beginning. We have all the features that are already permitted in the Bitcoin Core 0.14 codebase. It supports (8:39) segregated witness bigger blog sizes. All the latest modules are completely new codebase.

Tai Zen: Okay. We had spoken in private one on one on Skype before. Originally, when Leon and I did research into the Particl project, we thought that when you had the ShadowCash project, right, it was for stuff like dark markets. Then, you said that it had nothing to do with the dark markets. It was more of the shadow banking. Could you just help us explain that to the investors?

Rhino: Yeah. When we started ShadowCash which was actually about the shadow banking industry, the banking industry is a trillion dollar industry. It’s all kinds of investments…

Tai Zen: Okay. If you are not speaking, could you mute the microphone?

Rhino: Basically, the shadow banking industry was completely underground or off-the-books stock investment industry. People were doing investments in a non-traditional manner by keeping things away from people’s radar. Those weren’t the institutional investments and there were loads of that happening every day.

Tai Zen: Okay. You’ve mentioned that in 2014, Evan Duffield and the team from the Dash privacy coin project tried to merge with you as well as recruit you and your team of developers to come into the dash project. What was the reason for that and why did it not follow through?

Rhino: They approached us because they really liked our teams, our work ethic and how we were putting on features after features. At that time, we’re running really smoothly. Our project was a lot smaller so our release cycle was a lot faster. Basically, they wanted us because of our development.

At that time, the actual details of the deal were leaked, so it really put them off the project. We had to show people within the project because we couldn’t just make an agreement without people knowing. That really upset people in the community, so they decided to put the deal off. However, from our end, we also thought it was a really bad deal.

Tai Zen: Basically, the Shadow project and the Dash didn’t merge because the terms and the conditions were not agreeable to both parties.

Rhino: The terms were quite bad. They should have put us in a better position than they had done.

Tai Zen: Well, this will conclude the first part.

In this first part, I just wanted to give you a little background of how the Particl project started and where it came from. Besides, I also get a chance to meet a lead developer.

For more information about a Particl, you can go to This will conclude the first part. We’ll look forward to seeing you in the second part.


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