True Global Transaction Freedom
CloakCoin is designed to facilitate private, secure, decentralized & untraceable transfers. The Enigma Payment System is CloakCoin’s unique anonymizing technology, developed from the ground up and thoroughly audited by NASDAQ listed cybersecurity firm, Cognosec GmbH. Enigma is not associated with any other projects and forms a strong foundation for the future development of decentralized applications running on the CloakCoin network.
As one of the first digital currency concepts to address privacy matters, CloakCoin was introduced with the aim of enabling complete anonymity, in a world that is more and more encroaching on the freedom of its population. By using real and perceived threats to national security, the powers that be are trying to deprive citizens of their right to privacy as a means of ‘protection.’
CloakCoin is based on the revolutionary ’Blockchain’ concept but has added off-blockchain coin mixing as a simple and elegant solution to a very sophisticated problem. Enigma makes it impossible for 3rd parties to trace transactions between wallets on the CloakCoin blockchain. Today Cloak has one of the best systems available for 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 economy. As a pure peer to peer network without the need for master nodes, custom blockchain formats or information stored in databases or external ledgers, CloakCoin stands out as a leading privacy technology.
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, possibly leading to loss of value. Through CloakCoins transaction system Enigma, CloakCoin guarantees equality and interchangeability – also called ‘Fungibility.’ Devaluation is therefore impossible.
Like most other digital currencies CloakCoin can be held in wallets or accounts offered by over 10 different exchanges. By staking coins to help secure the Proof of Stake network, CloakCoin users receive a 6% per annum reward. In addition to that, each wallet has the chance to earn additional fees by participating as Cloakers to enable Enigma transactions.
Learn more at https://www.cloakcoin.com/en