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CloakCoin is a pure proof-of-stake (PoS) cryptocurrency that offers an interest of 6% per annum on staked coins. Should they wish, users are also eligible to a share in the network's linear fee from 0.2% (>1000 coins) to 1% (0 coins) fee for their support towards ENIGMA transactions. It’s more energy efficient than mining and it’s easy to earn more Cloak by simply placing coins in your wallet.
What is the purpose of CloakCoin?
CloakCoin is a fast, private, secure, untraceable and decentralized digital payment service, which aims to overcome the limitations of Bitcoin in privacy and speed.
CloakCoin introduces inviolable privacy, unbrakeable security and fast untraceable transactions. Providing to privacy oriented users a tool for global business with reasured performance and privacy thus making them truly autonomous.
On what platforms is CloakCoin available?
CloakCoin is available for: Windows, Linux, Mac iOS, Raspberry Pi, Android and iPhone.
What's the difference between staking and minting?
Staking and Minting in essence are the same thing. You have to Stake your wallet to Mint new coins (earn interest). Essentially its the same as PoW mining but because Cloakcoin is a PoS coin, the reward you get from helping the network is based on the coins you hold (minting/staking) not your processing power(mining).
Should I be always online to participate on Cloaking process?
Yes, to participate in the Cloaking process you should have your wallet running, synchronized and online.
How can I stake my coins? Should I be always online to stake my coins and get my reward or can I leave the coins in my wallet with my PC off?
The process of staking is automatic. To earn your rewards, the wallet needs to be unlocked. The rewards are increasing based on the Weight and the concept of Coinage. Coinage is increasing with time not moving your coins, you don't need to be online. Because of that, when you're unlocking the wallet after some time, you're able to collect the rewards for a maximum of the 6% of rewards.
You can find installation instructions for for: Windows, Linux, Mac iOS, Raspberry Pi, Android and iPhone here.
CloakCoin is a blockchain platform designed for fast, reliable and anonymous transfer of funds. To make transfers, CLOAK tokens are used.