Topic: [ANN][CLOAK] Private, Secure, Untraceable & Decentralized Digital Currency - page 190. (Read 811036 times)

Posting this before I buy is not necessarily profitable. Let me forewarn all small profiteers that I will be making a small purchase as soon as my bitcoin clears Bittrex. At that point you can hammer the market. And I will buy more.

@raizor (Joe):

Thanks for the news.

Has there been any thought to a more streamlined non-ring signature system?

A non time-locked chain?

Seems that ring sigs make the whole thing rather bloated. Been there and done that, but I understand if it is tried and tested. Monero etc.

A cryptographically secured chain that does not move forward, but to the random "next," the next being unknown until it happens, based upon some fluctuating algo; and that is the "proof" after the fact -- could that work?

I'm no coder, but am concerned about the potential markers the code will have if time-locks, even if obfuscated, could engender.

 

Main developer already working full time for this project..What is wrong if few members working daily job and helping this project as much as they can? Problem here is only future funding and if you look back few pages, plans exists, don't worry.

I am interested in this coin. But i have some concers.

I read that the development of this coin is done by a couple people working on it besides their job? Is this true?

If so, are there any plans to take on cloakcoin more professionaly. Because it seems it has some potential...

No i believe you more, because you are the biggest investor of CLOAK!

i buy 300 btc worth tomorrow is it fun talk???

Till then potential investors have doubts and uncertainties about this project. I think this is No1 decision that must be realized sooner or later, but if we want CLOAK to bee seen in top 10 better hurry up. I know this team are honest and good persons, but this is not how Crypto work, for everything proof is needed.

Are you joking? 

when price to 0.0014 then open source

When Cloak goes open source? This month? Next month?

Who is John Anderson?

I think Bill Still and the cryptographer have for sure much more potential

 John Anderson please high talk about Cloakcoin and we goto moooooooooooooooon

Hi all,

I thought I'd post a little update on my progress with the code work that is being done prior to open sourcing the project.

My main focus during this process is to tighten up the Enigma network and CloakShield protocol in terms of security. The most likely [successful] attacks we'll see are going to be DoS (denial of service) attacks. Although such attacks could not steal funds, they could still cause some nasty headaches by clogging up the network with junk data. To this end, I've refactored the existing DoS code for Enigma and CloakShield to make it far less tolerant of misbehaving nodes. I'm also in the process of improving the integrity checks for CloakShield data packets to allow both relay and target nodes to verify both the data sender and the data content. Here's a little list:

1. Improve CloakShield DoS protection to make it far less tolerant of misbehaving nodes.
2. Add signatures to CloakShield data packets and verify data and sender integrity before processing or forwarding the data.
3. Implement a basic TTL (time-to-live) system for CloakData onion packets. This is just a short-term measure until our micropayment-backed onion routing system rolls out after OS of the project. I also have some plans for implementing a system to allow nodes to determine approximately how far other nodes are away in terms of hops, but I expect this to be implemented after the source release.
4. Ensure that no transaction malleability attack vectors exist within the Enigma transaction system.

I'm also in the process of documenting the cryptography used by both Enigma and CloakShield as an esteemed cryptographer has very kindly agreed to check our cryptography prior to the source release. I won't disclose his name atm though, as I'm still in talks with him regarding this.

There's still a lot of discussion going on regarding funding. I think the network generated project funding is pretty much locked in for the future as it's critical for realising Cloak's potential and sustainability going forward. In terms of nomenclature, 'tax' is indeed an abhorrent term for the funding, 100% agreed. Keeping the project as decentralised as possible is of paramount importance. Our aim for the future is true digital governance where projects are proposed, green-lit and funded upon completion by voting consensus. Hopefully the prospect of digital governance excites you as much as it does us

I've also been doing some thinking on the blockchain-level privacy improvements that will come once we fork after open source. Ring-signatures and 2-key stealth addresses would fit pretty well with Enigma and would allow cloakers to supply a list of candidate inputs [rather than actual inputs] for Enigma transactions. This should also work well in terms of performance and memory usage as Enigma senders wouldn't need to store a big UTXO (unspent transaction outputs - essentially the money that goes IN to an Enigma transaction) set in memory for constructing the ring-signed transactions. Although this new twist could be neat, something different would be preferable to what others are already doing. Timelocked transactions and escrow will also be making an appearance in future. This will be critical for allowing services to be built to run on the Cloak network in future.

Cheers,

Joe

Which model of funding will be chosen is very important!
1. Collecting fund through ICO is popular only when you presenting something new where there is much room for speculations and high expectations no matter if they are not realistic. If you planing to collect greater sums you must invest in marketing.
2. Collecting trought fee i much more efficient and fair, maybe it is not so popural at the moment but it is nice steady income.
3. Swapping is also very time consuming and very hard job.
I wouldn't recommend this, especially now when you already invested in PR and promoted CLOAK.
4. Forget donations..

I totally agree on this. I think the community needs to understand that this is after all a community project and not a company that generates income. All ppl involved in the team have bought into Cloak some time back and have the incentive to make the price soar, like everybody else in the community. The only difference is that the Cloak Team has spent their own hard cash to bring Cloak to the point it is today. Without this initiative Cloak would not exist today.
Everybody here wants Cloak to be successful and prays for a big increase in price but this willl not happen by itself. We need to think what is required to bring this advanced and execellent system, and I think we all agree on that, to into the spotlight of main street.
The most crucial point is funding! No proper funding, no development, no marketing, no PR, no presence in the market. In the real world all these things cost money.
The crypto world is changing and is on its way to become a recognised financial market with ppl from the old money world flocking in to get a piece of the pie. This is already the case today and projects are being developed by real financial pros. We need to say Good Bye to the good old shoe string times and need to readjust to survive in this new world.
Watching Cloak for almost 2 years now and holding sustantial amounts of Cloak myself this is what I believe should be considered as a marching plan:

*** Rebrand Cloak  (Cloak and Dagger is out with governments get started on cracking down on anons, Coin is out as the market has shifted to broader visions)
*** OS
*** Prepare for an ICO with burning Cloaks 1 on 1 for the new currency to ensure all current holders participate in the lift off
*** Use a professional ICO consultant to guide the team through the process, open doors to investors and place new system right away on major exchanges
*** Carry forward  the current code base and add what might be useful as the foundation for new development
*** Introduce a Community Foundation
*** Use the ICO proceedings as capital for this Foundation
*** Introduce a "Maintenance Fee" to make the funding sustainable for the long run
*** Introduce a PoS Voting system and a governance model to allow the community to steer the course of the new system
*** Define a clear and simple mission statement and a vision of which planet the new system wants to land on
*** Work all this  into a clean project managment system with a rough time line
*** Do all these things above in a transparent, public fashion in plain public view and with the PR effort....

Voila, just fasten your seat belts....