CloakCoin is a cryptocurrency designed to facilitate private, secure and untraceable decentralized transfers with Enigma.
Cloak is a dual PoW/PoS (Proof of Work, Proof of Stake) coin, which is now in the Proof-of-Stake (interest bearing) stage.
Enigma is CloakCoin’s private, secure and untraceable payment system, that forms the basis of future development and provides the underlying transaction system for the decentralized applications running on the CloakCoin network.
Privacy today is perhaps more important than ever. The thundering pace of technological advancement has rapidly broadened their horizons and connected the world like never before. Thanks to Bitcoin’s introduction in 2009, cryptocurrency is steadily moving into the mainstream and they can now transfer digital currency securely across the globe in an instant, using the power of the blockchain.
As cryptocurrency adoption becomes more widespread, increased regulation is inevitable. It remains to be seen what form this regulation will take, but many are concerned it may be overly draconian and designed to stifle some of the more libertarian aspects of cryptocurrency.