You are viewing: CloakCoin

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Cloakcoin (CLOAK) provides a fast, fully private, secure, untraceable and user friendly transaction system with guaranteed fungibilty (all coins being equal and interchangeable) operating 100% decentralized on low-cost consumer hardware with very little energy consumption. 

Cloakcoin uses 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 (PoS) mining. Cloakcoin requires no master nodes, custom blockchain formats or sub-blockchains. 

Cloakcoin wallets connect to each other and CLOAKSHIELD enables them to establish a private onion routing network like TOR (minimum 3 hops). On this private network the wallets find participants to create and send ENIGMA transactions. ENIGMA produces transactions that are 'Cloaked' by other wallets. This means that as well as ENIGMA senders 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 and who is receiving funds. Here is a sample ENIGMA transaction.

Cloakshield provides a private Cloakcoin network for the exchange of encrypted messages between all ENIGMA nodes. It uses ECDH/RSA encryption to protect all communication required by ENIGMA. It’s a TOR like onion routing system that will allow to cover your tracks with up to 25 hops before your message reaches the recipient. Both ENIGMA and Cloakshield are fully integrated into an easy to use graphical user interface (GUI).

If you keep your Cloakcoin wallet with your coins in it online you will earn an interest of 6% p.a. with PoS minting. If you participate as “Cloaker” for ENIGMA transaction you can earn a share of transaction fees. As an active ENIGMA node you will have the added bonus of getting your coins swapped during the ENIGMA process again and again, adding to your assets fungibility.

 

Algorithm
Block Confirmations
Block Halving
Block Reward
Block Time
Consensus

x13

-

4 Years

496 CLOAK

60 seconds

PoW-PoS

Difficulty Cycle
Pre-mine
Ports
Max Supply
Mining
Launch Date

Every block

0%

-

4,868,000

CPU-GPU

October 14, 2014

 

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