hi all
interesting project!
thinking about a substantial investment in particl.
can you tell me the key difference btw. particl and sys in a few words (no coin war here pls)?
i find out there is another coin with the same or a similar name "particle" afaik.
do you have any plans to rename the project/coin in future (dont like the name particl so far, but do not like the name sys either an i'm investet there
)?
at the moment there are certainly more important things to do, just want to know if the team is open minded for such an idea
who creates polls/votings?
thanks a lot and keep the work on (like the roadmap)
Hello DRPD! I cannot speak too much for Syscoin, but both SYS and PART are built in different ways.
First big difference is the privacy. Particl is built from the core to be a perfectly anonymous ecommerce solution. It uses CT (Confidential Transactions, first developed by Greg Maxwell) to make sure all marketplace transactions are private by default. The Particl privacy marketplace also makes sure no metadata whatsoever can be extracted from it. On the other hand, Syscoin is not built with this in mind, and is, by default, just as public as Bitcoin transactions. I've heard they are going to use masternodes to achieve some level of private currency transactions, but Syscoin should not be considered a "privacy marketplace".
Which leads me to a second big difference between the two: the degree of decentralization. As Syscoin uses masternodes, it centralizes some of its key marketplace features into a few nodes. Another centralization issue with Syscoin is its Blockmarket market. Not only is the code closed-source (Syscoin Core is open-source though), but its governance (moderation) is done by staff of Blockchain Foundry. These two centralization issues are, in my mind, potential vulnerabilities. Particl, on the other hand, aims to be as decentralized as possible. For one, it doesn't use masternodes as all key functions such as privacy, voting, governance and messaging are ran equally by all nodes and in a fully decentralized fashion. This may be my old school thoughts here, but I am really a privacy and decentralization guy, hence why I was so attracted by what Particl is trying to achieve.
As for data storage (listing pictures, digital content, etc), Syscoin will store them on masternodes. Particl stores them on data storage networks (DSN). A hash of all content is stored on the Particl blockchain and the actual content is encrypted and stored on DSNs such as SMSG, IPFS, HTTPs, TOR, DHTs, and etc.
Another difference is that Particl accepts almost any cryptocurrency through the use of atomic swaps and third-parties. As all marketplace transactions still need to be done using the PART coin, all incoming transactions from other currencies are automatically converted into PART so that the marketplace can make use of its CT privacy protocol. This means that anyone from any crypto community can use their favorite coin to buy stuff on Particl, but still generate demand and buy pressure for the PART coin. This is a very good economics concept.
Other stuff I like about Particl but find lacking in Syscoin include:
- The best looking wallet in all crypto scene (really, download it and just look at this beauty! Looks are very important for customer adoption and Particl is the best of all crypto on that!)
- Passive income (I currently earn about 8-10% yearly staking rewards. That means my stash will grow 10% this year with daily payouts. It earns me enough that it pays for ALL my bills! Living the passive income life ehe! And all marketplace listing fees are redistributed to stakers as well, so as the marketplace will get more popuplar and more volume, passive income will become exponentially profitable. Why even buy coins that don't pay you to hold them lol?)
- The fact that the team is self-funded (it gets 10% of all block rewards, means the project is sustainable and will be funded forever! There's also a second crowdfund coming, meaning more money for the team to promote, market and get their product known)
- The fact that the PART coin is the best privacy coin tech-wise (Uses Monero's RingCT protocol, BTC latest (0.15.1.1) codebase, decentralized voting, passive income, etc.)
These are just my thoughts, I may get some details about Syscoin slightly inaccurate because I'm not always on their Slack but I think this comparison is fair. Syscoin is more advanced in its development stage and currently offers more features, but I believe Particl has a much more quality product. If we look forward in a year, Particl will probably have all the cool Syscoin features and some more.
If you want to do some heavy reading on Particl, read my articles on decentralize.today/@cryptoguard
Otherwise you can be on the lookout for the BitcoinWiki Particl page which is currently being written and should be up next week.
Let me just end that you can start your research on Particl by looking at its marketplace, but in the end you will realize it is much more than a marketplace. Particl is a privacy platform on which many privacy tools can be built using smart-contracts and wallet integrations. The marketplace is just one of the features, there is also anon voting, currency transactions, messaging, and in the future who knows? Maybe a DEX using its atomic swaps capabilities or a twitter-style Dapp? That's far out though, let's keep focused on the marketplace for now
