Here’s a look at how Particl’s evolving privacy platform can be
leveraged as a framework for building the next generation of private DApps.
from Singular to Plural
In the early days of blockchain technology — back when Bitcoin was
the only major blockchain platform — each blockchain had a specific purpose. In
Bitcoin’s case, it was to trade bitcoin.
But as the blockchain concept evolved and become more
sophisticated, developers realized that a single blockchain platform could
support many use cases. This idea led to the creation of decentralized platforms
Ethereum has its own cryptocurrency, called ether or ETH. But the
Ethereum platform allows users to do much more than just trade ether. It’s an
open-source framework for creating smart contracts that can be used for any
purpose. Using this framework, third-party developers can create their own DApps
for performing a limitless variety of tasks.
Only two years old, the Ethereum ecosystem boasts a diverse
collection of DApps whose functionality ranges from managing Ethereum accounts to playing
The Backbone of Particl’s Private DApp Framework
2017 has clearly seen Ethereum’s use case become an initial coin
offering (ICO) launch pad whereby new tokens are created for DApps that all run
on the ETH blockchain. Particl, on the other hand, is building out the DApp
concept to the next level; around it’s very private token, PART. By providing further
privacy than DApps built and transacting on trackable platforms like Ethereum, Particl’s
special privacy features become an option for consideration for many blockchain
applications focused on privacy and looking for a private DApp framework.
The fuel on Particl’s DApp framework is PART, a token with unique
privacy features. Unlike Bitcoin or Ethereum, PART transactions cannot be
traced by third parties. Even the amount traded in a transaction is hidden,
thanks to cryptographic proofs enabled with Confidential Transactions (CT) and
RingCT. In addition, Particl smart contracts, like their two-person escrow, enable
trustless and reliable exchanges without requiring third-party authorities to
Particl is clearly trying to separate itself from the crowd of
privacy coins like Monero that only focus on being a private cryptocurrency.
Using PART as the foundation, Particl developers have already
begun creating prototype DApps for use by the Particl community. The most ambitious
and significant is the Particl Marketplace, a self-governing ecommerce platform
where users can buy and sell in total privacy and without the oversight of a
central third party. The decentralized market will also be crypto-agnostic and an
example of the type of privacy applications that can be built to run on PART
but also can be used by users of most cryptocurrencies.
The Marketplace DApp will also be the first to incentivize staking
PART or working for the network. Listing fees will go to PART holders
participating in staking as well as the obvious uptick in transaction fees
generated by this application or any others.
Particl has also been developing an end-to end encrypted chat tool
for use by users. The chat tool is optional but provides built-in private
communication features that also leverage the Particl framework as their
backbone. It is imagined that Particl Core will always be related to the
privacy framework and users will have the option to pick and choose DApps to
run on the platform as they see fit.
The Marketplace and Particl chat tool are early examples of the
types of private DApps that can be built on top of the Particl platform. Many
other innovations are possible, the sky is the limit, as Particl and its
ecosystem continue to evolve.
Other types of DApps that could be built using the Particl
DApp to manage voting — either for Particl platform proposals (which all
owners of PART can make and vote on) or general-purpose voting of other
betting DApp that allows users to place bets in total privacy — multi-signature
and smart contracts can handle the clearinghouse
DApp for managing private crowdsourced funds — private-invite-only
listings can leverage PART’s untraceable, unlinkable capabilities
digital content ownership DApp where people can buy and sell content using
PART — artist anonymity can be maintained while still earning royalties
without paying a third party fees to verify or protect
DApp Store for the Particl Platform —community members could add DApps to
their Particl dashboard. This functionality would also help to set Particl
apart from Ethereum, which doesn’t have a native DApp store. With Particl,
users could access all of their DApps from a single location
These are just a few examples of DApps that could be built on the
Particl platform. The built-in advantage that these sorts of DApps would
leverage by using the Particl framework as opposed to an alternative like
Ethereum is privacy. As explained above, privacy is deeply embedded into the
Particl architecture, and PART tokens enable a level of confidentiality that is
not native to other cryptocurrencies.
The Particl Platform is in active development, and as noted above,
has begun developing a couple of core privacy DApps that will be examples for
future projects to follow.
As Particl matures, the platform promises to offer a rich
framework for building DApps that are private by default, without requiring
special privacy add-on features. Users will be incentivized to hold onto their
PART to earn passive income from the variety of apps fueled by the token. The
sky is the limit when it comes to the types of Particl DApps that can and will be
Disclaimer: Particl is a client of BTC Media, which owns Distributed.com.