The X13 Algorithm
PoS mining method
Circulating offer 5,177,630 CLOAK
The project was launched in 2014 (official site cloakcoin-com). The creators of the startup did not cope with the tasks set and refused to work. Soon they were replaced by new developers who took a serious approach to solve the issues related to anonymity, and sought to implement what the previous team could not do.
CloakCoin is an open-source decentralized blockchain platform that operates as a worldwide payment system.
CloakCoin has several significant advantages over similar platforms, including instant and completely private transactions that are conducted in a secure environment.
The developers have implemented a unique Enigma technology that mixes all transactions, which significantly increases the security and privacy of transaction participants.
The key role in the system is played by the CLOAK digital coin. Traditional mining is not provided here, which excludes the opportunity to purchase expensive equipment. CLOAK mining in the network is performed with the help of the PoS algorithm, which provides an annual interest of 6%. The total number of coins issued is not set on the platform.
The company does not stop there and continues to work on the development of the project, adding tools for implementing user applications and other innovations.