CloakCoin (CLOAK) quick summary

in cryptocurrency •  2 months ago

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CloakCoin (CLOAK)
CloakCoin (CLOAK) is a decentralised, open-source cryptocurrency launched in June 2014 and re-launched in October 2016 under a new management and based on Bitcoin Core. It was one of the first coins focusing on privacy and anonymity of transactions and this quest was further enhanced after the relaunch as the developers implemented an off-chain peer-to-peer coin mixing arrangement called Enigma, provided by a Tor-like routing system named CloakShield.
Category: Currency
Initial release: 2014.06.03
All time low: 0.004289 USD
All time high: 13.03 USD
Pros:
-CloakCoin is a pure proof-of-stake (PoS) cryptocurrency that offers an interest of 6% per annum on staked coins, but users are also eligible to a share in the network's 1.8% transaction fee for their support towards Enigma transactions
-One of the first privacy focused coins on the market
Cons:
-In the privacy coin market, it has a lot of concurrents wtih even better technologies and much more recognition, and it is hard to compete against them
-Small community
Similar projects: Monero, Zcash, Pivx, Verge, Komodo
Key figures: Unknown, team members use pseudonyms

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