After my last two interviews with an adviser on the Particl project, I’ve summarized my understanding of Particl into a more digestible format.
Below you can watch or read a breakdown:
Particl is an e-commerce platform that is run on blockchain technology, looking to disrupt traditional e-commerce platforms through what can be termed non-rigged competition. The main goal of the project is to provide a marketplace that belongs to both the buyers and the sellers with no middle man in between, or one that is decentralized. This allows sellers who are traditionally excluded from the global marketplace to access it due to much lower barriers to entry, just one example being advertising costs. It also incentivizes innovation by sellers, by allowing them to keep their sales data private, without fearing competition from the owner of the platform itself. Because Particl is run on the blockchain, transaction details cannot be altered, adding security and future evidence for both the buyers and sellers, even in extreme cases where a society is experiencing civil unrest. There will be security built in to deter the sales of particular goods, and regulators are able to be anonymous as either the buyer or seller. Updates to the platform will be made through user consensus, depending on the amount of participation in using the platform and user involvement in staking. Particl is a new kind of marketplace that has never existed before because the main participants are relying on themselves to trade their goods and services. They are participating in an actual free market, at least on the platform itself, and transaction details are forever stored. This is the long term vision of Particl and why it has the potential to change the world.
Apart from this, Particl has a native token, that is required for the platform to run and, from what I gather, has the potential to yield long term gains. There are more reasons why you could invest in Particl. Particl is run on the Bitcoin blockchain protocol, which is the oldest and most stable blockchain protocol. However, it uses proof of stake instead of proof of work mining, lending itself to less concentration of mining power in few hands. It is less susceptible to the scaling issues that Bitcoin faces. Holders can also earn interest passively through staking. There are two significant features of the marketplace and wallet that may be attractive to participants. Particl will feature Mutually Assured Destruction Escrow through its ability to have custom smart contracts. Users can also have both public and blind wallets in the Particl wallet.
If you want to find out more about Particl, you can visit their website at Particl.io, as well as find them on Riot, Slack, and Telegram. Please see my two previous posts for a more in-depth understanding of the project.