Topic: [ANN][CLOAK] Private, Secure, Untraceable & Decentralized Digital Currency - page 208. (Read 811071 times)

thats promising see if you can take it to the next step and set something up, wonder what they consider high activity.

from Btc38

Why is CLOAKCOIN cool?
Our target is to serve a fast, fully private, secure, untraceable and user friendly transaction system that provides fungabilty (all coins being equal and interchangeable) and functions 100% decentralized on low-cost consumer hardware with very little energy consumption. You will soon be able to run a Cloakcoin node on a Raspberry Pi at home - silent and low priced. Our wallets should be as easy to install and to run as possible!


How does it work?
We use proof of stake (PoS) for consensus, which means existing coins held by users are used to help secure the Cloak network. This negates the need for expensive mining hardware associated with proof of work (PoW) mining. Cloak uses no masternodes, custom blockchain formats or sub-blockchains. Cloak wallets/nodes connect to each other and CLOAKSHIELD enables them to build up private onion routing network like TOR (minimum 3 hops) and on this VPN the wallets find participants to create and send ENIGMA transactions. ENIGMA produces transactions that are 'cloaked' by other users. This means that as well as the ENIGMA sender adding their funds to the ENIGMA transaction, cloakers also provide matching amounts, which they receive back alongside a reward for helping to cloak the send. This means that anyone examining the transaction cannot determine who is sending or receiving funds. Here is an ENIGMA transaction: http://explorer.cloakcoin.com/tx/a138e4ccf432d890709fa8a1e7844d11450a33808021fec55df68dd366c0be15

ENIGMA works similar to the scenario where many people put 10 $ into a pot and many other people take 10 $ from the pot. Who got which 10 $?

And the onion routing called CLOAKSHIELD adds this:
Not you put your 10 $ into the pot, you gave an envelope to a person, this person open the envelop and put out a new envelope and forward it to the addressed person, this person do the same (according to the number of used hops) and the last person puts the money into the pot for you.

If you let your wallet open you will earn an interest of 6% p.a. for PoS minting, if you help procession transactions with ENIGMA you earn coins too and your coins get also swapped in this process! So your coins can get swapped many times before you spent them... and if you spent them, the target address will receive other coins, not yours!


Why is CloakCoin better than a coin that relies on masternodes? Why is it a better system?
You have to trust in masternodes. Trust they are not logging the mixes and trust that your coins got mixed in a uncompromised masternode. Masternodes are NOT anonymous, it is easy for a malicious actor to target these nodes via hacks or targeting users.

In CloakCoin you only have to trust one node, your own node!



....

https://www.cloakcoin.com/en/learn-more.html

Why is this Enigma tech better than current privacy solutions?

What's that? Got a link?

haha, ok i stop to talk

shhh I dont have enough cloak yet, dont let the other know about enigma yet.

hmm catalyst ..... sdc crash, dash is too expensive - 107 $, monero $ 23 and then we see a cloak with ENIGMA tech,still undiscovered gem only 50 cents

thanks for the quick reply much appreciated.

Yes It's a little trickier than publishing an Android wallet, but we're on it.

It will continue. Any coins staked before you shut down will have had their interest collected. When you restart it will move onto the next coins with interest to be collected and stake those.

if i close my wallet and reopen it does that restart my staking process? or does it continue on when I reopen it?

Any short term catalyst?

looks set to see another explosion soon

I feel tension

yes sure

WoW good deal cuteflower, buy cloak of 80 sell on 40 and buy dash  only for 100$

professional

Buy high sell low

Any plans for an IOS wallet?

sell cloak buy dash