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Author Topic: [ANN][CLOAK] Private, Secure, Untraceable & Decentralized Digital Currency  (Read 809047 times)
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January 09, 2018, 05:54:08 AM
 #9801

Apologies, Fast hands. 19th of January
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January 09, 2018, 07:31:03 AM
 #9802

Hello new cloak here Smiley

I feel that Cloak Wallet is too resource hangry. It takes about 800MB of Ram and it uses like 20-40% of my CPU all the time, while most of my other wallets runing on the same system only takes a fraction of that. Is there any plan to optimize it?

They do plan on switching to the litecoin codebase this year, mostly for the variety of interfaces it offers but I think it will have other improvements also.

thx FineCloakWeather for the info Smiley
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January 09, 2018, 09:13:15 AM
 #9803

If landing binance, that is the best, what is the voting current CLOAK?
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January 09, 2018, 09:31:05 AM
 #9804

If landing binance, that is the best, what is the voting current CLOAK?


i do not believe on votes.. votes can buy and users randomly multiple votes and some tricks.. binance and other exchanges should see future and stabality of projects how good is it. not to see votes i think

and recently cloak team announced about some good exchange will be add cloak which is it we do not know.. i am talking about openledger
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January 09, 2018, 01:54:52 PM
 #9805

If landing binance, that is the best, what is the voting current CLOAK?

It's at 0.46% of the votes, unfortunately (the top is 53.57% at the moment).

https://www.binance.com/vote.html

I'm starting a technology blog T4CH.top, check it out!
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January 09, 2018, 08:16:10 PM
Last edit: January 10, 2018, 08:53:52 PM by cloakteam
 #9806






Bitcoin ≠ Eco-awareness – A bill that won’t work out in the long run Solution = Proof-of-Stake

Due to the bitcoin’s huge value increase this year (2300%) and its prospects miners are springing up like mushrooms. Whole mining farms are being built. A new gold rush. According to a study by the University of Cambridge 59% of bitcoins are mined in China. Especially in northern China. Bitmain Technologies, the leading mining hardware manufacturer, is based there and operates its own mining farms. In the north of the country, as well as in neighboring Mongolia, an oversupply of coal-fired power plants, results in excess capacities and state subsidies for electricity in these regions. Thus, one kilowatt hour costs only four cents and thus forms the most economical variant of mining.

Despite the environmental consequences and the inefficiency of the bitcoin transaction system, its value increases strongly. Due to the frightening eco-balance it reaps a lot of criticism.

The crypto-analytics platform Digiconomist states that the energy cost for a single Bitcoin transaction betrays 215 kilowatt-hours. Enough electricity to supply an average US-household for a whole week, or to run a refrigerator for a full year.

By the progressing Bitcoin production and its associated scarcity of Bitcoins increases, so does the complexity of the computing processes and thus the energy consumption. Currently, 0.12 percent of the world’s energy consumption are used to generate bitcoins. According to forecasts, bitcoin’s power consumption in July 2019 will already be equivalent to the amount of the entire US’s at the present time. Already in 2020, the bitcoin’s power consumption will be equal to that of the entire world at the present time. Considering the inefficiency of the system an unacceptable development.

Currently around 400,000 transactions are placed worldwide per day. This figure illustrates the inefficiency of bitcoin’s system, which is far below the capabilities of similar services, such as VISA (approximately 150 million transactions / day) and PayPal (approximately 5 million transactions / day).

Inefficient and damaging to the environment, but adding value. Whether this bill will work out in the long run?

There are greener, efficient and not less lucrative alternatives. Some coins offer proof of stake system (POS). In this process, not the rendered, energy-intensive computing power of the user plays the key role, but only the amount of coins in his possession. It allows you to process significantly more transactions per second and offers the owner an annual not inconsiderable interest on his coins in addition to the potential price gains. Interest rates vary from coin to coin. A very good example is Cloakcoin (CLOAK).

Cloakcoin offers an annual interest rate of 6% and offers further rewards. The Enigma fee for anonymous transactions of currently 1.8% is divided among all supporters of the Enigma transaction. Thus, you can easily and risk-free receive 6% +Share of 1,8% on your deposit. Plus, the potential price gain.

A short calculation:

Initial situation: Purchase of 1,000 CLOAK in July 2017 + 6% Staking; Calculation of the development until the present day (02.01.2018).

02.07.2017 = 1,000 x $7.85 = $7,850

02.01.2018 = 1,000 x $30.96 = $30,960 + 30 x 30.96 (= $928) = $ 31.888

The example shows that you can earn 60 CLOAK per year if you stake 1,000 CLOAK (Regardless of compound interest). An investment 6 months ago ($ 7,850) would have turned into a present value of $ 31,888 (excluding compound interest). The mere staking would have yielded $ 928. A pricely sum.

Clearly a very good reason to stake coins like CLOAK. The functionality corresponds to the interest on a bank balance and is at the same time environmentally friendly.



Source:
https://themerkle.com/bitcoin-%E2%89%A0-eco-awareness-a-bill-that-wont-work-out-in-the-long-run-solution-proof-of-stake/
https://www.ccn.com/bitcoin-%E2%89%A0-eco-awareness-bill-wont-work-long-run-solution-proof-stake/





                ,╓▄▄▄▄▄▄▄▄▄╓                
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       ,▓███▀╜,▄▄███████████▄▄,╙▀████╖      
      ▄███▀ ▄█████▀▀"``╙"▀▀█████▄ ▀███▄     
     ▓███╜╓████▀ ,▄▄█████▄▄, ▀████,╙███▌    
    ▓███`╔███▀ ╓▓███▀▀▀▀▀████╖ ▀███@"███▌   
   ]███▌┌███▌ ▐███         ███▄ ▐███ ▐███,  
   ▐███ ▐███ .███           ███  ███▌ ███▌  
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    ▓███ ▐███▄ ╙██▀╩     9███╜ ╔███▀,███▌   
     ████,╙███▌               ▓███╜,████    
      ▀███▄ ▀╜                 ▀▀ ▄███▌     
       ╙████▄,                 ╓▄████╜      
         ╙█████▄▄╓,       ,╓▄▄█████▀        
            ▀▀█████████████████▀▀           
                '▀▀▀▀▀▀▀▀▀▀▀'

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January 10, 2018, 03:19:27 PM
 #9807

at the moment cloak was to be trading between 80 to 85 usd but looks like not any interesting or invester buyers buy hope for the best in future of this year cloak will be trading between 300 to 400 usd this year
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January 10, 2018, 08:53:02 PM
Last edit: January 11, 2018, 10:41:14 PM by lasvegas83
 #9808




What is the next big cryptocurrency?


It will be a privacy coin. As for which one, discovering the next big hit is a matter of fine tuning one’s ability to spot the right projects.

Most top cryptocurrencies favour security and omnipresence, but privacy more in their sales pitch, than in practice. Which is alright, because privacy is making a come back in the crypto scene soon -



- and there are a number of privacy coin projects out there that are sure to receive the limelight.

I want to bring special attention to a currently still undervalued privacy project called CLOAK and what it has to offer.

CLOAK will likely be a great opportunity for investment, because it was a closed-source project for a long time, due to which it went under the radar.

On New Year’s Eve 2017 the team released the code which they had been working on for 3 years on their Github.



Looking at the Roadmap, the team is clearly ambitious and will be busy in 2018 too.

Being open source will attract CLOAK a lot of attention, both from traders and developers. The revision will likely spike the project’s value - in price as well as in functionality and security.

CLOAK & MONERO

Monero (XMR) is perhaps the best known privacy coin in the market. It has a long history and grew tenfold in value this year.

You will notice that the top cryptocurrencies are overwhelmingly first generation projects. Hence, most of them, including Monero, are based on Proof of Work.

I compare it to CLOAK in 5 categories:

Privacy
Environmental Sustainability
Centralisation
Incentives to users
Wallet usability


Privacy

CLOAK and Monero both use stealth addresses and coin mixing. Monero uses RingCT and in CLOAK, this is achieved with Enigma (whitepapers here and here).

However, in order to hide transactions from third parties, CLOAK also runs CloakShield in the background. It encrypts all activity on the blockchain by layering, similar to how onion routing works in the TOR network.

Monero is developing their own code called Kovri for layering, which they claim to be more secure than onion routing. But it’s still miles away from being friendly to use, so CLOAK is clearly ahead on this.

Environmental Sustainability

Monero uses Proof of Work. However, investment that goes into sustaining PoW coins devalues over time, because PoW coins require expensive hardware, a lot of computational power and electricity. In February 2017, Monero required an estimated 40 000-80 000 USD to secure its network every single day. So the environmental cost is considerable.

CLOAK, on the other hand, is purely Proof of Stake. PoS integrates the security and running of the blockchain into the coins instead of separate mining equipment. It therefore saves not just on hardware, but also on electricity. Staking involves running inexpensive, electricity efficient devices (such as Raspberry Pi’s) that require no more power than an LED bulb, giving CLOAK an advantage in the environmental sustainability category too.

Centralization

PoW mining has a tendency to centralise into the hands of a few, especially to investors with lots of money to buy hardware or to the hardware developers themselves. Some of the biggest pools in Bitcoin are owned by hardware producer Bitmain.

Monero’s PoW algorithm, CryptoNite, is designed ASIC resistant. This protects against miner centralisation, because creating ASICs for this type of mining remains unprofitable. But cheap memory intensive ASICs will likely be developed in the future. And even now, Monero mining is dominated by 3-4 big pools.

By using PoS without Master Nodes, anyone with CLOAK can stake their coins to the service of the blockchain. Consensus and security in CLOAK is reached based solely on the amount of coins in staked wallets. CLOAK therefore achieves a much wider spread of governance across the blockchain, bringing true decentralization.

Incentives to users

Monero doesn’t reward its already existing coin holders with anything. New Monero is earned solely through investing into CPU/GPU and mining. To stay competitive with increasing hashrate as more miners join, miners have to keep investing into more equipment.

To motivate coin holders to stake their coins into the service of the blockchain, CLOAK uses PoS without Master Nodes. As a result, CLOAK rewards all of its coin holders with 6% on their holdings per year.



It’s a very attractive solution. No traditional investment yields a return of 6% annually. I would say that the deciding factor for many is what they can get from their investment into either coin and, again, CLOAK has an advantage here.

Wallet usability

Monero’s official GUI wallet is still in Beta. There are many unofficial GUI wallets that have been created by the community.

But CLOAK has an official GUI wallet for both Mac and Windows right now. The wallet has an easy to use interface and includes even an in-built marketplace for all CLOAK related service providers. According to the roadmap, official mobile wallets are to follow in Q2

To conclude

In terms of functionality, they are both good privacy coins with dedicated teams and lots cooking under the hood (CLOAK got itself a new developer team in 2016).

But CLOAK has a number of advantages over Monero. While tech is constantly evolving and Monero may switch to PoS or some other newer algorithm in the future, switching is labor and research extensive and therefore quite a tricky business.

The price of CLOAK is also only 25 USD, it has a circulating supply that is 3 times smaller than Monero and it rewards all coin holders without needing separate resource-costly mining equipment.

With all of this in mind, it seems CLOAK is surely set to be the next big cryptocurrency. And there is an opportunity here to invest relatively early in a project that is likely do very well in the future.


Author: Nele Maria Palipea



Source:
https://www.quora.com/What-is-the-next-big-cryptocurrency/answer/Nele-Maria-Palipea?share=eb03bc9f





                ,╓▄▄▄▄▄▄▄▄▄╓                
            ╓▄█████████████████▄╖           
         ╓▄█████▀▀'▒,,,,,╠'▀▀█████▄,        
       ,▓███▀╜,▄▄███████████▄▄,╙▀████╖      
      ▄███▀ ▄█████▀▀"``╙"▀▀█████▄ ▀███▄     
     ▓███╜╓████▀ ,▄▄█████▄▄, ▀████,╙███▌    
    ▓███`╔███▀ ╓▓███▀▀▀▀▀████╖ ▀███@"███▌   
   ]███▌┌███▌ ▐███         ███▄ ▐███ ▐███,  
   ▐███ ▐███ .███           ███  ███▌ ███▌  
   ▐███ ▐███ '███           ███  ███▌ ███▌  
   ]███@╙███@ ▀██▌        ,▄██▌ ▐███ ▐███`  
    ▓███ ▐███▄ ╙██▀╩     9███╜ ╔███▀,███▌   
     ████,╙███▌               ▓███╜,████    
      ▀███▄ ▀╜                 ▀▀ ▄███▌     
       ╙████▄,                 ╓▄████╜      
         ╙█████▄▄╓,       ,╓▄▄█████▀        
            ▀▀█████████████████▀▀           
                '▀▀▀▀▀▀▀▀▀▀▀'

CloakCoin |  Private, Secure, Untraceable & Decentralized Crypto Currency|  Enigma
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January 10, 2018, 09:33:48 PM
 #9809

Great Job Guys
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January 11, 2018, 04:58:58 AM
 #9810

at 3:42 to 3:56 .....could it be us Huh

https://www.youtube.com/watch?v=iyUYgtsfDi8
 

"the emotional value to the 12th is high"

anything's possible, i sppoze

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January 11, 2018, 10:08:58 AM
 #9811

at 3:42 to 3:56 .....could it be us Huh

https://www.youtube.com/watch?v=iyUYgtsfDi8
 

"the emotional value to the 12th is high"

anything's possible, i sppoze

what does it mean about this saying in 3:42 to 3:56???
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January 11, 2018, 04:05:17 PM
 #9812

Labrat refers to the preliminary audit report which is due tomorrow and COULD already contain some really great news and be a "game changer" or "set a whole new market structure" ;-)

Stay Cloakstrong!
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January 11, 2018, 09:29:26 PM
 #9813

I don't pop in here very often but I'm very pleased the coin is finally being reviewed and is going completely open source.

BTC: 1F8yJqgjeFyX1SX6KJmqYtHiHXJA89ENNT
LTC: LYAEPQeDDM7Y4jbUH2AwhBmkzThAGecNBV
DOGE: DSUsCCdt98PcNgUkFHLDFdQXmPrQBEqXu9
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January 12, 2018, 02:10:17 AM
 #9814

I need help with getting a list of peers added to my wallet ... any peer info?
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January 12, 2018, 04:32:25 AM
 #9815

I consider myself as a long term holder so I’m not worried about a price. When you are a short term trader things are looking dramatic at the moment I suppose. We hit well over $30 so now, $20 is a big drop. But this has reasons and you should look through it and trust on CLOAK it’s capability. Since a few weeks it is getting harder and harder to register for an account on exchanges like Binance, Bittrex, Litebit, Bitfinex etc. Now these are not all exchanges where you can trade CLOAK on, but it’s preventing billions of dollars to come to the markets. Eventually this will come and all prices will rise again. FUD of South Korea banning trading in crypto currencies on top of it makes a drop on almost all the coins and tokens out there.
Big money is ready to come and enter the market soon. Bonusses from Wall Street are being paid on the 15th of January and a lot of investors will go crypto with it. Then we have the audit release making the Open Source 100% legit on the 19th. Things are looking up, but patience is important when trading and investing in crypto....

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January 12, 2018, 11:43:23 AM
 #9816

I consider myself as a long term holder so I’m not worried about a price. When you are a short term trader things are looking dramatic at the moment I suppose. We hit well over $30 so now, $20 is a big drop. But this has reasons and you should look through it and trust on CLOAK it’s capability. Since a few weeks it is getting harder and harder to register for an account on exchanges like Binance, Bittrex, Litebit, Bitfinex etc. Now these are not all exchanges where you can trade CLOAK on, but it’s preventing billions of dollars to come to the markets. Eventually this will come and all prices will rise again. FUD of South Korea banning trading in crypto currencies on top of it makes a drop on almost all the coins and tokens out there.
Big money is ready to come and enter the market soon. Bonusses from Wall Street are being paid on the 15th of January and a lot of investors will go crypto with it. Then we have the audit release making the Open Source 100% legit on the 19th. Things are looking up, but patience is important when trading and investing in crypto....

Cloak is a really good coin for the lon-term run. Buy the dips and you will be in a good profit later. I like to look for the Cloak development, its a solid and professional team with a great goal for all community.
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January 12, 2018, 04:16:32 PM
 #9817

Hey guys,

I am new to CloakCoin. I have a technical issue, I hope someone can help me out. So I installed the wallet on Ubuntu as described at https://github.com/CloakProject/2.0.2.1-Wallets#linux-installation , I could sync, the blockchain is downloaded, but so far the GUI did not open for me, not once. So basically I am stuck at step 6 and I only know from the log file that the blockchain got synced, but otherwise there is no GUI that I can interact with. Any idea?
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January 12, 2018, 04:21:15 PM
 #9818

Hey guys,

I am new to CloakCoin. I have a technical issue, I hope someone can help me out. So I installed the wallet on Ubuntu as described at https://github.com/CloakProject/2.0.2.1-Wallets#linux-installation , I could sync, the blockchain is downloaded, but so far the GUI did not open for me, not once. So basically I am stuck at step 6 and I only know from the log file that the blockchain got synced, but otherwise there is no GUI that I can interact with. Any idea?

Hi! Please join our chat room: chat.cloakcoin.com

I don't know but it sounds you have not installed necessary libs. qt5 libs and so? to run the GUI wallet.
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January 12, 2018, 04:30:10 PM
 #9819

Hey guys,

I am new to CloakCoin. I have a technical issue, I hope someone can help me out. So I installed the wallet on Ubuntu as described at https://github.com/CloakProject/2.0.2.1-Wallets#linux-installation , I could sync, the blockchain is downloaded, but so far the GUI did not open for me, not once. So basically I am stuck at step 6 and I only know from the log file that the blockchain got synced, but otherwise there is no GUI that I can interact with. Any idea?

Hi! Please join our chat room: chat.cloakcoin.com

I don't know but it sounds you have not installed necessary libs. qt5 libs and so? to run the GUI wallet.

That can well be. I only installed the ones listed under step 5 in the above description. Is there somewhere a full list of dependencies one needs to install? If you could copy or link this list here, that would be nice, alternatively I go to the chat room.

And thanks for the quick reply, btw. Smiley
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January 12, 2018, 04:33:31 PM
 #9820

Hey guys,

I am new to CloakCoin. I have a technical issue, I hope someone can help me out. So I installed the wallet on Ubuntu as described at https://github.com/CloakProject/2.0.2.1-Wallets#linux-installation , I could sync, the blockchain is downloaded, but so far the GUI did not open for me, not once. So basically I am stuck at step 6 and I only know from the log file that the blockchain got synced, but otherwise there is no GUI that I can interact with. Any idea?

Hi! Please join our chat room: chat.cloakcoin.com

I don't know but it sounds you have not installed necessary libs. qt5 libs and so? to run the GUI wallet.

That can well be. I only installed the ones listed under step 5 in the above description. Is there somewhere a full list of dependencies one needs to install? If you could copy or link this list here, that would be nice, alternatively I go to the chat room.

And thanks for the quick reply, btw. Smiley

I don't have a list and i'm not a linux profi but you may just add all:

apt-get install autotools-dev autoconf libminiupnpc-dev libqt5gui5 libqt5dbus5 qttools5-dev qttools5-dev-tools libprotobuf-dev libqrencode-dev git build-essential libssl-dev libdb++-dev libboost-all-dev libqrencode-dev libevent-dev tor libcurl4-gnutls-dev libleveldb-dev
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