Cloak Coin (CLOAK) is an open-source blockchain solution utilizing ENIGMA technology for confidential transactions, featuring decentralized, secure, and scalable protocols. More
| Fully Diluted Valuation | $170,260 |
|---|---|
| 24H Trading Volume | $27 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 6.07 M |
| Total Supply | 6.07 M |
| Max Supply | 0.00 |
| Categories | Privacy 2 more |
|---|---|
| Founder | Stefan Kender |
| Website | cloakcoin.com |
| Socials | 4 more |
| Chains | Cloakcoin Ecosystem |
| Explorer | Cryptoid |
| Name | Pair | OG Score |
|---|
Cloak Coin (CLOAK) enters the cryptocurrency arena as a unique contender, boasting innovative features aimed at enhancing transaction confidentiality. Established in June 2014, CLOAK is driven by a commitment to providing secure, decentralized solutions within the blockchain ecosystem. Let's dissect the key components and implications of Cloak Coin, shedding light on its role in shaping the future of digital transactions.
1. Enigma Technology:
Central to Cloak Coin's architecture is its proprietary ENIGMA® technology, engineered to ensure transactional privacy. Employing default onion routing and CloakShield® functionality, ENIGMA® facilitates end-to-end encrypted communication, effectively shielding user data from potential surveillance. This blend of cryptographic techniques enables secure transactions, bolstering user confidence in the Cloak Coin network.
2. Decentralization and Security:
Cloak Coin's emphasis on decentralization and security underscores its commitment to fostering a resilient ecosystem. Operating on a Proof of Stake consensus mechanism, CLOAK prioritizes network scalability and sustainability while minimizing operational costs. By leveraging these principles, Cloak Coin endeavors to provide users with a secure and inclusive platform for engaging in the cryptocurrency market.
3. Utilization and Staking:
In addition to its foundational technology, Cloak Coin offers a range of utilities to its user base. Through decentralized autonomous organizations (DAOs), gaming platforms, and staking mechanisms, CLOAK aims to incentivize active participation and engagement within its ecosystem. Staking CLOAK tokens allows users to earn annual interest rates of 6%, further enhancing the attractiveness of Cloak Coin as a viable investment option.
4. Vision and Impact:
Cloak Coin's vision revolves around the principles of privacy, security, and user empowerment. By providing individuals with a means to transact securely and privately, CLOAK seeks to address growing concerns surrounding data privacy and centralized control. Through its innovative technology and commitment to decentralization, Cloak Coin aspires to redefine the landscape of digital transactions, offering a viable alternative to traditional payment methods.
Conclusion:
Cloak Coin emerges as a formidable player in the realm of cryptocurrencies, driven by its commitment to advancing transactional privacy and security. Through the deployment of ENIGMA® technology and adherence to decentralized principles, CLOAK positions itself as a catalyst for change within the blockchain ecosystem. As the digital landscape continues to evolve, Cloak Coin remains steadfast in its mission to provide users with a secure, confidential, and inclusive platform for conducting transactions in the digital age.
Cloak Coin stands out for its use of ENIGMA® technology, providing unparalleled transaction confidentiality through onion routing and encryption. Its decentralized architecture and focus on user privacy make it a distinctive player in the cryptocurrency space.
The specific founder of Cloak Coin is Stefan Kender.
While specific backers or investors may not be publicly disclosed, Cloak Coin has garnered support from a diverse community of users, developers, and stakeholders who contribute to its ongoing development and adoption.
