Up to now, we’ve been concentrating on our ENIGMA payment system as this forms the core of CloakCoin and provides a secure, private and untraceable transaction system on which we can build new functionality and applications. We also have a working Electrum Server implementation for CloakCoin and an Android lite-wallet that utilizes the electrum server. With these things in place, we’re now in a good position to take CloakCoin forward in some interesting new directions. In terms of what’s next, here’s a brief rundown of our current roadmap.
Open Source the CloakCoin project.
The CloakCoin project remains closed source at present. We are currently working to fully open-source the project in the very near future.
Complete libsecp256k1 integration to remove the dependency on OpenSSL.
This will also provide some considerable performance improvements for ECDSA operations, making CloakCoin faster and more efficient.
Implement HD (Hierarchical Deterministic) wallet support in Daemon/QT-wallet.
Our work-in-progress HD wallet implementation also relies on this work being completed. It should be noted that the Electrum Server and Android Wallet already fully support Electrum deterministic wallets and deterministic addresses, so this work will bring the QT-Wallet and Daemon inline with the Electrum/mobile offering.
Implement new ENIGMA mining algorithm
The ENIGMA payment system currently costs a sender 1.8% of the sent amount when sending using Enigma. This fee is used as a direct reward for ‘Cloakers’ who cooperate with the sender to ‘Cloak’ the transaction. Our new mining algorithm will negate the need for a 1.8% fee for ENIGMA, making ENIGMA free to use (while still rewarding Cloakers) and allow us to enforce the rule that all transactions on the Cloak network are cloaked by ENIGMA by default.
Create Litewallet for desktop (Linux/Win/OSX).
This will utilize the Electrum server and allow Enigma sending from litewallets without the need to download any blockchain data. In essence, this will be almost identical in functionality to the mobile clients, so this work will also open up ENIGMA sending to mobile users.
Custom applications and third-party integration
Great technology is essentially useless without a use case. To this end, we’ve already been working with BlockPay to integrate CloakCoin into their payment system. This is the first of many collaborations, which will give users the ability to use CloakCoin for purchases. With the new wallet release, anyone can use the CloakCoin daemon to send Cloak funds using Enigma, making Enigma sending available in third party applications. The addition of Electrum server support also gives us the means to integrate with something like OpenBazaar or build custom incentive-based (i.e. markets, file sharing, hosting and content streaming) systems.
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