Privacy & Anonymity
One of Bitcoin's biggest imperfections for users that seek privacy is Bitcoin's pseudo-anonymity. Through analysis of bitcoin's unencrypted network it is possible to trace back, from the public blockchain, the parties involved in a bitcoin transaction. Cloakcoin solves the problem of linkable adresses with the Enigma trustless consensus protocol and to improve security the Cloakshield infrastructure provides various layers of encryption on all network communications.
The blockgeneration time of CloakCoin is 60 seconds. Bitcoin needs 10 min for one block, but Bitcoin's network has become so congested it sometimes takes hours to confirm a block even paying high transaction fees.
After 4 minutes a CloakCoin transaction is completely done with a typical transaction fee of 0,01 CLOAKS.
Most digital currencies, including Bitcoin, face the problem of unfungibility and possible devaluation by 3rd parties.
An example are the 'marked' 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 privacy.
Through CloakCoin's transaction system, Enigma, CloakCoin guarantees equality and interchangeability of all coins - also called 'FUNGIBILITY'. Devaluation is therefore impossible.
Anyone can earn more with Cloak. A 6% annual interest is rewarded for simply staking your coins in your wallet. Aditionally participants of Enigma transactions receive a reward fee.
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