Crypto-Currency Bull Watch Report: CloakCoin
CloakCoin 2014 is based on the revolutionary ’Blockchain’ concept, but has added some very simple and clever layers of communication and a sophisticated off-blockchain coin mixing system making it impossible for 3rd parties to trace transactions between CloakCoin wallets.
CloakCoin is secure and can protect your privacy very well. CloakCoin is a pure peer to peer network without the need of any master nodes, custom blockchain formats or information stored in databases or external ledgers, like sub blockchains.
Communication between all peers is encrypted, based on a TOR like onion routing system. Your transactions are supported by a group of so called “Cloakers” who help you to obfuscate the link between the sender and the recipient of a transaction. No data is logged, no information remains that would allow any researcher to trace transactions.
Unlike Dashcoin, Cloakcoin is alway anonymous. In a Dashcoin wallet, you have to send it through multiple rounds of mixing, but The ENIGMA transaction system designed for CloakCoin utilizes off-blockchain mixing in order to 'cloak' transactions on the Cloak network making it impossible to determine the true sender or recipient of a Cloakcoin transaction.
Very safe, easy to use and highly efficient, only 5 million in circulation! This viable competitor to Dash puts CLOAK on my cryptocurrency bull watch report. Trade at your own risk and discretion!
what do you think about CLOAK's future?
Good points in this post. Interesting to see I'm not the only one that is thinking about this. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. I found this amazing platform: https://www.coincheckup.com. They give great insights in the team, the product, advisors, community, the business and the business model and other techincal insights. Check: https://www.coincheckup.com/coins/CloakCoin#analysis For the CloakCoin Detailed report