[ANN][CLOAK] Private, Secure, Untraceable & Decentralized Digital Currency

[tradercouch]

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

[1713977579]

1713977579

[1713977579]

1713977579

[lasvegas83]

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

[brainland]

Great Job Guys

[lab rat hoax]

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

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

"the emotional value to the 12th is high"

anything's possible, i sppoze

[tradercouch]

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

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???

[Duderino123]

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" ;-)

[Viper1]

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.

[FrankWatsonJr]

I need help with getting a list of peers added to my wallet ... any peer info?

[Cloverfield]

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....

[algreen]

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.

[Babber]

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?

[yogibaer]

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.

[Babber]

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.

[yogibaer]

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.

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

[nikochanbtc]

I think that this project requires more careful observation

[lasvegas83]

Please Vote for CloakCoin on CobinHood

https://cobinhood.canny.io/exchange/p/list-cloak-coin-on-cobinhood-exchange/voters

[Seren8]

Does anyone know how to locate the blockchain on a drive other than C:\ ?
I'm using a limited capacity SSD so need to put it somewhere else.

Thanks.

[R-J-F]

Does anyone know how to locate the blockchain on a drive other than C:\ ?
I'm using a limited capacity SSD so need to put it somewhere else.

Thanks.

You can run the wallet on C: and have the plock chain on D: or whatever by moving the data folders to the D: drive and pointing to that in the shortcut you created during install. So, if you moved the blockchain and data folder to "D:\Cloakdata", you would create a Windows shortcut with the Target "C:\Program Files (x86)\cloak.exe D:\cloakdata\" That tells the wallet to look for the data files on D: drive in the \cloakdata\ folder.

This is a standard windows shortcut method. I use this for multiple wallets on C and data folders on D. Just make sure there are no typos in the shortcut string.

[R-J-F]

"Hello Guys, Another...."

Hope you paid the Cloak Team for the intrusive advertisement. Ass...

[SErVER51]

I wonder if a wallet on livecoin will ever be enabled again. I'm really interested in the project and bought some CloakCoins, but can't transfer them out of the exchange (the wallet has been offline for a while now), which is a pity since I would probably have to sell them too quickly.