What is CloakCoin (CLOAK)?

burakisirgan (45)in #bitcoin • 8 years ago (edited)

Today, Binance listed CLOAK, let's look at what it is.

CloakCoin first appeared in 2014 when Bitcoin was experiencing a decline. CloakCoin is a system that provides secure, private and anonymous monetary transactions all over the world. Everyone can participate in this digital system and only one smartphone or computer is required. CloakCoin uses the same concept as Bitcoin, but there are different new blocks technology chain.

They have developed a delicate off-chain money system that provides some simple and brilliant communication layers, as well as high security and makes it impossible for third parties to track all transactions between Cloak Coin wallets. It is difficult to say anything clear about the legality of many systems, but nothing is forbidden in Cloak Coin working system. Owners will get the "freedom" given to them in many constitutions around the world.

Advantages of CloakCoin;
→ Quick Transactions
Cloak Coin has the technology to make the fastest transactions possible among all the cryptos in the world. Compared with bitcoin, the block time with Cloak Coin is significantly shortened. Cloak Coin takes about 60 seconds, Bitcoin takes ten minutes. This is a big difference in terms of time, which is indispensable to secure and private currency trading.

→ Completely Private
There is a routing system that completely protects the identification of the users who are being processed. No one can trace the identity of the sender or recipient, and therefore the whole process is defended against fraud and theft.

→ Secure
The intermediary or third parties can not confiscate the crypto money while transactions are being made. Therefore, the money is always safe and secure, and the sender can be assured that the money it sends will reach the buyer.

→ Feasibility and Rewarding
All the currencies used in the transactions can easily be changed and they are all equal. Users provide feasibility. You can earn up to 6% award each year by keeping your money in your wallet.