A Brief Introduction
What is CloakCoin?
When Bitcoin was introduced in 2008 and started to herald the dawn of a new financial age it quickly developed a loyal community and opened up a wide range of opportunities for adventurous minds around the world. New markets and services evolved and many applications where introduced.
Bitcoin was initially recognized as allowing anonymous transactions across the globe and a lot of markets became based on this assumption.
It didn’t take long for people to realize that Bitcoin was not really offering true anonymity and still doesn’t do so up to this very day.
CloakCoin was one of the first digital currency concepts in the crypto market to address this inadequacy, and was introduced in 2014 with the aim of enabling people to use a coin that would provide total privacy, in a world that is more and more encroaching on the freedom of its population, stating real and perceived threats to national security as a reason to 'protect' its citizens.
CloakCoin 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.
Today CloakCoin is one of the best systems available providing private, secure, decentralized and untraceable digital monetary transactions. It is also one of the most user friendly systems and will allow anybody with a computer or a smartphone to participate in today’s digital markets.
It is not, and has never been the intention of CloakCoin to support illegal markets or activities that are associated with elements acting outside of the law. The sole purpose of CloakCoin is to give its owners the freedom that has been granted to them in many constitutions around the world and is their natural right.
Is CloakCoin secure and can it protect my privacy?
Yes, CloakCoin is secure and can protect your privacy very well. You can find detailed information on this web site how this security and privacy is generated. 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.
Very safe, easy to use and highly efficient – this is what CloakCoin is all about!
How do I hold CLOAK and what is a wallet?
Like most other digital currencies CloakCoin can be either contained in so called ’Wallets’ or in accounts offered by several exchanges or financial service providers around the world.
Wallets are programs/apps that can be downloaded onto to your computer or smartphone and will allow you to send and receive CloakCoins and enable you to participate in the PoS (Proof of Stake) consensus system that will reward you with 6% interest on the value of the CloakCoins held in your wallet.
The CloakCoin wallet will also allow you to configure your ENIGMA transactions, setting the parameters according to your privacy needs.
Could your CloakCoins be devalued by 3rd Parties? - FUNGIBILITY!
Most digital currencies, including Bitcoin, face the problem of possible devaluation by 3rd parties. An example is the Bitcoins confiscated during the investigation of Silkroad. Digital currencies usually leave a trail of breadcrumbs that can be followed which might lead to loss of value. Through CloakCoins transaction system ENIGMA CloakCoin guarantees equality and interchangeability - also called 'FUNGIBILITY'. Devaluation is therefore impossible.
Where can I get CLOAK?
Where can I use my CLOAK?
As with all other digital currencies CloakCoin can be either sold on exchanges – traded for Bitcoin or FIAT currencies - or can be used to pay or get paid for goods and services using different payment service providers. Look here for more information.