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What is Particl and Why Should You Know About It? – An Interview with “Crypto Ramble”

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Particl
Images by Particl.io

BitcoinAfrica.io reached out to Particl spokesperson Desi-Rae, who hosts a YouTube channel called Crypto Ramble, which focuses on cryptocurrencies, privacy, and the Particl Project to find out more about the highly innovative privacy-focused cryptocurrency project and how Africans can benefit from it.

Desi-Rae is a native Jamaican turned New Yorker who first learned about cryptocurrencies in 2013. She started to become actively involved in the cryptocurrency community in early 2018 when an advisor at Particl asked her if she would like to create digital content to spread the word about the project.

What is Particl and how does it differ from other privacy-focused cryptocurrency projects?

Particl is a privacy coin that is currently building its first decentralised application (DApp): an online marketplace. The project is unique because of how its privacy technology is built, and the impact it will have on the world.

Particl uses RINGCT, initially developed by Monero, which allows transaction amounts and sender information to be hidden. Particl also provides recipient anonymity. RINGCT provides one of the highest levels of anonymity among privacy coins, compared to Dash’s CoinJoin for example, and without some of the disadvantages of other privacy technologies, such as a trusted setup.

ParticlFurthermore, because it is built on the Bitcoin codebase, this gives a stable and well-understood environment for the development of DApps and inclusion of new developers in the future. There are other achievements of the project, such as it being the first to implement hardware cold-staking, that highlight the innovation and talent of the development team.

In terms of its impact, the privacy and selling features it offers with e-commerce are unique. The marketplace is the first of its kind, due to the privacy offered by RINGCT, and additional governance and escrow services. It means that users can transact with each other without the power imbalance and subsequent threats that come from using the platforms of private companies. It solves current e-commerce and finance issues such as higher barriers to entry for sellers, exploitation of sellers’ sales data, global payment infrastructures being exclusive, and needing middlemen to provide escrow services.

Particl is also, conspicuously, one of a few cryptocurrency projects that are well beyond its idea stage. The coin’s privacy features were recently audited, and the marketplace has a testnet build already available with a usable product coming soon. It is a stellar project, building secure technology, and with a pragmatic product on the horizon.

What is your role at the Particl project?

Desi-Rae CryptoRamble

I’m a Particl spokesperson and community member. I help bring awareness to the project by creating visual and written content that others can watch and read in order to discover what the project is about, how it works, and why they should get involved. I also introduce the project to as many people and contacts as I can.

I make content for Particl within the context of Crypto Ramble, a web series that focuses on cryptocurrencies, privacy, and Particl.

Why did you choose YouTube for your channel as opposed to some of the new video streaming alternatives out of the crypto sector?

I chose YouTube because I was already familiar with using YouTube as a platform to share my content. I also post Crypto Ramble videos on other platforms but have not done any live streaming in a solo capacity.

There will also be an audio podcast as an alternative to video content, coming soon.

How important is privacy for you and for cryptocurrency users, in general?

PrivacyPrivacy is very important to me. We are slowly allowing ourselves and future generations to be ensconced in an age of rapid technological change that is shedding basic tenets of self-sovereignty, such as privacy, due to the lure of convenience. I can’t speak for anyone but myself, but I would think that privacy is important for cryptocurrency users in general.

The spirit of cryptocurrency is to create a new form of institution, a decentralised one, that is not beholden to the corporate interests that dominate the status quo. Bitcoin was not just made to create a new form of money, but a trust-less form of money.

A lack of privacy equates to the same institutional powers being able to maintain that status quo. It is important to realise that privacy is not just desired by bad actors. It is a fundamental human right that is also identified by reputable institutions where these standards are established.

Particl is currently ranked 237th on CoinMarketCap and is not in the top ten largest privacy coins measured by market capitalisation. Why do you think that Particl has not managed to get more traction from investors?

Particl has an amazing development team, amazing being an appropriate word. This does not necessarily translate to the desire to generate hype while focusing on development. The project garnered a lot of attention at its start and there has been a proliferation of cryptocurrencies during and after that time. Investors and enthusiasts may not fully understand the space or may be looking for projects that they can quickly find promoted information on.

My personal assessment is that there is a lot of noise in the cryptocurrency space and that the project will make its mark again when it is ready to, with the right deliverables.

How can Africans benefit from what Particl has to offer?

Africans can benefit from what Particl has to offer by using the technology in ways that are useful to them. Cryptocurrencies allow users to take control of their personal finances and send money directly to others without the barrier of distance, and without the need to trust in companies. They can get their money across in a timely fashion and to the right people, without the stress of inefficiency or overcurious assistance.

Moreover, at this stage where cryptocurrency or blockchain as cryptocurrency is finding its feet as a new form of technology, the opportunity is there to learn how to use it and leverage the technology to deliver solutions to people in the untapped niches that make up their environment.

Particl is not just a privacy coin but a platform, with a software development kit (SDK) in the works. In a similar fashion to using a decentralised currency, Africans can use a decentralised marketplace that offers privacy, useful transaction features, and ownership of their data. They can use it in ways that are useful to themselves and their communities.

Does Particl have plans to move into the African market? Are there any existing initiatives in this regard?

Africa

As Africa is a big continent with many people self-identifying with different parts, this is an interesting question to answer. A central hub for Particl is South Africa, so Particl already has its feet firmly planted in Africa. Particl is more than open to bringing in new community members.

Particl is currently focused on the development of the project but will be focused on marketing and new projects in the future. We are open to making any new contacts. Perhaps your readers could even start thinking about potential products they would like to sell on the marketplace!

Where can people find out more about yourself and the Particl project?

People can find out more about me at http://cryptoramble.com and find out more about Particl at http://particl.io. There are links on the Particl website to various communication channels. Finally, you can follow @cryptoramble on YouTube, Twitter, and Steemit to stay up to date.

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The History of Bitcoin, the First Cryptocurrency

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Bitcoin (BTC) has taken investors and the rest of the globe on a wild ride from its modest origins in 2008. The Bitcoin price fluctuated for over a decade, eventually reaching tens of thousands of dollars. Read on to learn about the history of Bitcoin. 

Bitcoin is a decentralized electronic trade between individuals. In layman’s terms, individuals may transfer money to one another without going through a bank or intermediary. Bitcoin was created to facilitate financial transactions without dependence on the government or large financial institutions. Bitcoin users may deal with one another through the blockchain, which tracks transactions and the bitcoin price using a “proof-of-work” technique.

Some believe Bitcoin will someday replace fiat money. Despite Bitcoin’s shortcomings, venture investors remain hopeful about the progress in the Bitcoin price achieved since the cryptocurrency’s inception. The emergence of Bitcoin has gathered a group of individuals thrilled about the advent of cryptocurrencies and the possibilities they will provide for companies and investors. Furthermore, Bitcoin has spawned dozens of alternative digital currencies.

When Did Bitcoin Start?

During the 2008 Great Recession, the role of banks in the financial sector was investigated. This was when Bitcoin was created, and a Bitcoin price was established. People claiming to be Satoshi Nakamoto published a white paper about the problems with centralized money management and the importance of trust when dealing with other people’s money.

Transaction costs can add up in the traditional financial system when a transaction can be undone or changed by a third party. The goal of bitcoin was to eliminate the need for a middleman in commercial transactions. Instead of depending on banks and other institutions outside the network to verify network integrity, the Bitcoin system employs cryptographic proof.

The first block was mined in 2009, marking the formal launch of the blockchain. A week on, the first test transaction was done. The only individuals who could obtain it for the first several months were miners who could check the Bitcoin price on the blockchain. Miners would exchange Bitcoins for no other purpose than to have fun. Miners are individuals who utilize very powerful computers to solve complicated mathematical problems to discover new Bitcoins and ensure that previous Bitcoin transactions are honest and accurate.

For another year, there weren’t any major transactions involving the new medium of exchange. Shortly thereafter, in 2010, a Florida resident offered some 10,000 BTC in a bid to have the priceless $25 commodity come home. His name was Pizza John. With this deal, the world had its first genuine Bitcoin prices set at some four Bitcoins for every penny. On average, this haul of Bitcoin compares to approximately $400 million in modern money. Interestingly, crypto enthusiasts have set aside May 22 to mark the groundbreaking occasion, known as “Pizza Day.”

The Price of Bitcoin in the Past

Bitcoin Millionaire

One feature that distinguishes Bitcoin price is its volatility. Because Bitcoin is a novel asset, there is a lot of speculation about it, and its value is widely discussed. Despite fluctuating prices, Bitcoin’s value has skyrocketed since its inception in 2009. Bitcoin’s history has been chiefly one of fast growth, punctuated by a few dramatic price declines here and there. Bitcoin surpassed the $1 milestone in February 2011.

Bitcoin price was less than $2 initially, but then it went up. It had its first bubble in June 2011, rising to above $31 before falling into the single-digit price range. After more than two years, Bitcoin finally reached $200 in April 2013. It was worth more than $1,000 by November of the same year. In November 2017, the fee was raised to $10,000. In November 2021, it reached a high of close to $68,990. That doesn’t mean the journey was without incident.

Bitcoin was called a bubble in 2017 because investors paid more for it than the Bitcoin price was worth. According to Furo, the 2017-2018 bubble was largely caused by an increase in initial coin offerings or ICOs. Some experienced investors compare the Bitcoin bubble to the end-of-the-century internet boom.

Everyone was talking about Bitcoin or other cryptocurrencies, a new network or protocol, from wealthy hedge fund investors to your neighbor. The ICO craze boosted the cryptocurrency market by billions of dollars. The beginning of 2018 saw a significant drop in the Bitcoin price due to psychological and technical issues. When the price of Bitcoin fell, a “mature market” developed around it.

Because of these changes in the Bitcoin price, the Bitcoin market has matured considerably. Established efficient and intelligent exchanges are taking the necessary steps to create a self-sustaining and viable market for investing and trading in Cryptocurrencies such as bitcoin, and key institutional-grade participants are following suit.

Bitcoin Today

Right now, the Bitcoin price is around $37,000. It’s far away from its all-time high and post-peak low. Earle claims that no one knows the inventor- Satoshi Nakamoto. This topic can be discussed, speculated, and may lead to conspiracy theories.

One of these theories holds that Bitcoin is a “skunk work” or top-secret project of a company like Alphabet Inc. or an intelligence service. Others believe it is a “trap-door project” that will be taken over by a bad person waiting in the wings. Earle considers Bitcoin’s present to be more important than its past. He argues that the predominant evidence points to two primary, widely held ideas. The first is: Like anything else, money is actually a good. Secondly, money results from a given market process.

Cryptocurrencies have almost wholly supplanted conventional money, but the Bitcoin price is still maturing, and Bitcoin is becoming a value store and unit of account.

Bitcoin Tomorrow

So, what is the future of Bitcoin as a cryptocurrency and the Bitcoin price? Nobody knows, but Furo believes it would be lovely and intriguing.

New, low-cost, and simple investment options are becoming a reality. The Bitcoin price will make acquiring bitcoins even more accessible to many individuals. Such access would be comparable to that of well-known markets. Keep in mind that no investment is without risk. 

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Weekly Roundup: Binance Announces Zero Bitcoin Trading Fees to Celebrate 5th Anniversary & More

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In this week’s news roundup, you’ll read about Binance announcing a fee-free spot trading on various Bitcoin trading pairs, Celo launching a Web3 fund geared towards African startups looking to transition from Web2 to Web3, US commodities regulator filing a civil charge on a South African Bitcoin scam for fraud, and more.

Binance Announces Zero Bitcoin Trading Fees to Celebrate 5th Anniversary

BinanceTo celebrate its fifth anniversary, Binance has announced that it will eliminate trading fees on a variety of Bitcoin spot trading pairs.

Although Binance has always offered and maintained the lowest spot trading fees in the cryptocurrency industry, this move will see the exchange establish itself as the global leader in pricing.

Speaking about the announcement, Binance Founder and CEO “CZ” (Changpeng Zhao) said: “In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry. At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.”

From July 8, Binance users will enjoy zero trading fees on 13 stablecoin and fiat combinations including BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, BTC/TRY, among others. The new fees will be in effect until further notice. This means that users on the crypto exchange will be able to enjoy fee-free trading beyond the two weeks planned for anniversary celebrations.

Celo Launches a Web3 Fund for African Startups Looking to Migrate to Web3 From Web2

Celo, a mobile-first blockchain ecosystem geared towards building an all-inclusive financial system, has announced the launch of its Web3 fund that will support African startups developing across payments, remittance, related financial services, savings, and virtual assets.

Through its VC partners, the Celo Africa Web3 Fund will provide financial investments to African startups. In addition, the company will offer technical assistance via the Celo Developer Guild and its technical partners such as Ape Unit and Tatum. Both the financial investments and technical assistance offered will make it possible for Web2 founders in the African continent to adopt a strategy and grow their business to achieve deeper financial inclusion, lower transaction costs, and more affordable credit.

Celo, together with its various partners, has already made an open call for Web2 founders in Africa to apply for the Celo Africa Web3 Fund by July 15, 2022, and has pledged that they will support shortlisted candidates through their transition to Web3.

The fund will include an in-person workshop across five African countries with the first in-country workshop slated for July 26, 2022. Additional workshops are expected to follow in Ghana, Nigeria, South Africa, and Uganda between July and November 2022.

South African Company Charged by the US CFTC for Bitcoin Fraud Worth Over $1.7 Billion

The US commodities regulator, Commodity Futures Trading Commission (CFTC), has filed civil charges against Mirror Trading International Proprietary Limited (MTI), a South African company, and its CEO, for running a fraudulent Bitcoin commodity pool worth over $1.7 billion and over registration violations.

According to CFTC, the company and its CEO, Cornelius Johannes Steynberg, solicited Bitcoin online between May 2018 and March 2021, from thousands of people, including 23,000 Americans. Additionally, it said that the company instead of trading forex as it had registered itself as, embezzled pool funds, lied about using trading bots, faked account statements, misrepresented trading and performance, and used a fake broker in instances where the trade actually happened.

The Ponzi scheme is the largest involving bitcoin fraud the CTFC has handled. Moreover, the regulator also stated that Steynberg was a fugitive until he was recently arrested in Brazil by Interpol.

Cardano Accelerator Adaverse Funds Seso Property Marketplace to Boost Cardano’s Adoption

Adaverse Fund, a Cardano VC accelerator fund created to boost the development of Web3-based solutions in the African continent, has announced its participation in Seso Global’s fundraising.

Seso Global is an online real estate property marketplace that leverages blockchain technology to reinvent Africa’s real estate industry. The company utilizes blockchain to provide a marketplace that supports secure and risk-free digital land transactions between buyers, financial institutions, land agencies, property owners, and professionals that service the real estate value chain.

The funding round saw venture capital firms, Adaverse, Columbus Angel Network, Emurgo Africa, Kepple Africa Ventures, Moabi Group, and Rising Tide take part. In addition, Jamie Broderick, Albert Essient, and Ibrahim Sagna also took part as angel investors.

This partnership is key for Seso Global as it provides us with necessary partners and experts to expand our Web3 offerings. We are now seeing the growth of Blockchain real estate solutions and with Adaverse, Seso will be a trailblazer for the industry in Africa. We are confident that Cardano will see strong growth in Africa due to its lower energy needs and cost of the Blockchain.” says Daniel Bloch, CEO and co-founder of Seso Global.

Adaverse was established in September 2021 as a joint venture partnership between Everest Ventures and EMURGO Africa to not only identify but also provide valuable support and resources to propitious African founders developing the next wave of Web3 decentralized applications (DApps) in decentralized finance (DeFi), gaming, non-fungible tokens (NFTs), the metaverse, and more on Cardano’s third-generation and environmentally-sustainable blockchain.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

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Amber Group Announces Q3 2022 Launch of Openverse, the Gateway Into the Metaverse

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Openverse

SINGAPORE, 11 May 2022Amber Group, the leading global digital asset platform, today announced its entry into the metaverse with the launch of Openverse, a Web3 enablement platform for creators, brands, and businesses. A culmination of Amber Group’s multi-disciplinary expertise in digital architecture and blockchain-native infrastructure, Openverse serves as a gateway to the metaverse, empowering Web2 creators, brands and businesses with tools and services to transition into Web3.

Amber GroupWith the metaverse economy projected to reach $13 trillion by 2030, Openverse marks Amber Group’s venture into Web3 community building. Due to launch in Q3 2022, Openverse is a significant milestone in Amber Group’s plans to aid businesses, industries and societies as they transition into Web3. As a one-stop platform, Openverse will create entry points into the metaverse by delivering end-to-end creative and digital infrastructures for creators, brands, and businesses.

“Digital assets are the first step in realizing a decentralized future where people are empowered to create and connect with online communities, unlocking new digital experiences. While there has been a lot of interest in the metaverse, it remains largely conceptual. With Openverse, we are taking a solid step towards creating this digital reality for all. Backed by our expertise and partnerships within the digital asset ecosystem, Openverse is at the forefront of onboarding businesses and communities into the metaverse, unlocking the true potential of decentralization,” said Amber Group’s Chief Executive Officer, Michael Wu.

Openverse is designed to be a Web3 enablement platform, supported by leading real-time 3D rendering technology to create an experiential digital world for all users. The platform will be accessible on mobile, desktop and VR platforms, and will come equipped with features such as real-time content interaction, gameplay, customizable digital avatars and an NFT valuation system. Openverse will also leverage Amber Group’s flagship digital asset platform, WhaleFin, for its crypto financial services, creating synergies with the company’s thriving consumer business line to expand the reach of its digital asset services.

“We are excited to launch Openverse and convert the possibilities of the metaverse into reality in the next few months. As we develop a gateway for everyone to journey into the metaverse together, we are also building a strong line-up of partnerships with gaming studios, sporting brands, digital artists, and creators in an effort to bridge the gap between physical and virtual economies. Not only will this encourage more Web2 users to migrate into the metaverse, it will also herald a new era for digital assets worldwide,” said Openverse’s Chief Executive Officer, Jo Xu.

About Amber Group

Amber Group is a leading digital asset platform operating globally with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading. Amber Group is backed by prominent investors including Sequoia, Temasek, Paradigm, Tiger Global, Dragonfly, Pantera, Coinbase Ventures, and Blockchain.com.

For more information, please visit www.ambergroup.io.

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