• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Advertisement

CryptographicCoin and CloakCoin: Anonymity Battle!

Armaan Chandnani by Armaan Chandnani
8 years ago
in Altcoin News, Altcoins, News, Reviews
0
Advertisement

CryptographicCoin

One of the few coins out there to show real promise by integrating truly anonymous technology is definitely CryptographicCoin showing some never before seen combinations in order to achieve the goal of anonymity.

By integrating technologies from Zerocoin, Novacoin, and even PeerCoin, it seems as if the goal at hand is fairly simple. The purpose of CryptographicCoin seems to be clear as they strive to bring a securer and more anonymous network, a field in which Bitcoin has failed in recent months. Not only this, it also implements a system that deletes transactions once completed which shows us the amount of effort put into making this coin completely anonymous, a feat not achieved by its counterparts.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Currently, CryptographicCoin will have a total of 100,000,000 coins that will be produced by both the proof-of-logo1 (1)work phase and the proof-of-stake phase. The benefit received from proof-of-stake is, essentially, greater security. This due to the lack of mining which nullifies 51% attacks on the network, and emphasizes on staking coins in order to receive a greater quantity of coins as the end result. However, CryptographicCoin excels at an even greater rate while using proof of stake thanks to its use of a CryptoBank which is based on the joint keeping of coins in a common wallet for the generation of new blocks. More information can be found here.

When it comes to altcoins though, you can never be sure on how the plans will be executed, and cryptographiccoin is no different. It will take some patience to see whether or not it becomes an actual contender to being a long-term coin, and we must also see if the developers keep their backing of the coin intact. A community, and a good developer are crucial in a coin’s development, and it will be no different with CryptographicCoin. Only time will tell if the coin becomes something more than simply another altcoin.

CloakCoin

CloakCoin is an anonymous coin just as CryptographicCoin, yet it takes a different approach to anonymity. It has a total of 4.5 million coins and no premine using the X13 algorithm. Currently, it’s in the PoS stage which has an interest rate of 6%. It uses CloakSend 2.0 to execute its anonymous transactions; it also uses a decentralized marketplace, and a very secure wallet that includes CloakSend and a built-in exchange. A very interesting feature that makes CloakSend 2.0 different when compared to other ways of sending anonymous transactions is the implementation of PoSA or Proof of Stake Anonymity. You can find more information on CloakSend 2.0 by downloading the PDF.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Other than CloakSend, another important feature shown by CloakCoin is the wallet that they have developed. The wallet has integrated the Bittrex API in order to enable trade inside the actual wallet which makes the process of trading that much simpler and effective for both day traders and beginners in the cryptocurrency world. The Cloakcoin team is working on updates though, which would include a multi-currency wallet and a decentralized exchange implemented into the wallet. These would certainly make the coin stand out from all others.

download (24)

But one of the most unique features CloakCoin will soon have is a decentralized market called OneMarket. In this marketplace, you will be able to buy and sell goods anonymously. The marketplace will be hosted in the CloakCoin blockchain in its entirety. The reason why this is excellent in my opinion is due to the fact that it removes the threat of a government intervening and seizing all of the assets that a marketplace holds.

This was one of my biggest concerns regarding an anonymous marketplace, but the plan in place could be quite effective to counter a government wanting to shut down the marketplace. A recent update from the dev states: “This one will blow the water out of anything seen before in the crypto world. All we can say at the time is, CIARA” Going to be an interesting few days for CloakCoin indeed.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Armaan Chandnani

Armaan Chandnani

Born and currently living in Panama. Currently studying finance as a major. I have a great passion for bitcoin and cryptocurrency as a whole. Feel free to comment! I am sure we will have interesting discussions.

Related Posts

These Altcoins Could Be Ones To Watch For, Santiment Suggests

These Altcoins Could Be Ones To Watch For, Santiment Suggests

20 hours ago
Aptos (APT)

Aptos (APT) Jumps 130% In 7 Days, What’s Driving The Price?

2 days ago
Polkadot Speeds Past Cardano To Become Top Crypto By Dev Activity

Polkadot Speeds Past Cardano To Become Top Crypto By Dev Activity

3 days ago
AI crypto token chatGPT

How ChatGPT Could Drive A Dramatic AI Crypto Token Narrative

4 days ago
Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

1 week ago
Cardano vs Dogecoin

Dogecoin Vs Cardano, Which Is The Better Investment?

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Altcoins For Massive Gains In 2023: Hedera (HBAR)...

    50 mins ago
  • Bitcoin Cash (BCH) to become legal tender of St. Kitts and...

    1 hour ago
  • Axie Infinity (AXS) Is Down 11.5% and Shiba Inu (SHIB) is...

    2 hours ago
  • Aptos (APT) and Avalanche (AVAX) Are Among The Top Losing...

    2 hours ago
  • Orbeon Protocol (ORBN) Surges, While Litecoin (LTC) and...

    2 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.