Rewards & Fees
CloakCoin is a pure proof-of-stake (PoS) cryptocurrency that offers an interest of 6% per annum on staked coins. Should they wish, users are also eligible to a share in the network's linear fee from 0.2% (>1000 coins) to 1% (theoretically 0.000001 CLOAK - 9.999999 CLOAK) fee for their support towards ENIGMA transactions. It’s more energy efficient than mining and it’s easy to earn more Cloak by simply placing coins in your wallet.
Proof of Stake Reward
CloakCoin offers a 6% Proof-of-Stake reward per year, as compensation for helping the network.
Note that the timing of the staking reward is not linear, you get the reward when you create a block, it's not just switch on the wallet and get the reward, it's similar to finding a block with PoW. Chance and luck comes into play in the process, but your coins will stake and get the 6% per annum. With a 6% PoS dividend yield annually, CLOAK has much to offer for investors and holders. The 6% annual dividend is paid on the amount of CLOAK an investor holds in his wallet. Each time the Coins are minting, there's a fraction of the annual interest paid as an incentive for supporting the network. Minting is possible on any computer (even low-end!) and with minimal energy consumption. The wallet doesn't have to be open/online 24/7, but to secure the network it is preferable to do so. You will gain Coin Age even if your wallet is offline.
Calculate your, daily, weekly, monthly and yearly staking reward with the CloakCoin Staking Calculator!
Regular Transaction Fee
To protect the CloakCoin Blockchain from being disrupted by spam and denial-of-service attacks, each transaction must burn a small amount of CLOAK. This transaction cost is designed to increase along with the load on the network, making it very expensive to deliberately or inadvertently overload the network. CloakCoin regular transaction fee is 0.01 CLOAK. Multi-signed transactions costs 0.02 CLOAK. The minimal amount of fees makes CLOAK very competive in comparison to other cryptocurrencies.
ENIGMA Reward & Fee
Users that offered assistance for an ENIGMA transaction can also receive a reward of the paid ENIGMA fee from the sender.1% at 0.000001 coins thru 0.2% at 1000 and higher coins. This is used to reward ENIGMA nodes that assist with cloaking an ENIGMA transaction. The fee is then mixed with the transaction and split between Cloakers. It is not only a reward for participants; but is used to help make determination of the transaction amount impossibly difficult. A Cloaker participant receives incentives in the form of reward fees. The reward fees are randomly split, 80%-120%, of an equally split ENIGMA fee.
ENIGMA rates charged to sender which will be distributed among all participating Cloakers.
The ENIGMA fee % is charged on a per transaction basis at these rates: