CloakCoin has release a new whitepaper less than 24 hours ago, which features extensive Who would’ve thought we might see Crypto anonymity by using Proof-of-Stake protocol extensions? Let’s take a closer look!
CloakCoin’s anonymity feature, called CloakSend, has been demoed previously by using a Youtube video. As CloakSend is a constant work in progress, the developers have announced CloakSend 2.0, and released a whitepaper accordingly.
The most interesting part of this whitepaper is the topic on providing transaction anonymity by using the Proof-of-Stake protocol. Or to be more precise , by extending the Proof-of-Stake protocol, which in turns is an extension of the Proof-of-Work protocol.
In the CloakSend 2.0 whitepaper, you will find a graphical representation of how this feature would work. There are no specific technical details however, as the CloakCoin developers don’t want the (premature) idea to be cloned by other Crypto coins.
You can find the CloakSend 2.0 whitepaper here :
This new CloakSend 2.0 whitepaper makes for a very interesting read, and it does make you think about using Proof-of-Stake to provide other features, not just anonymity. We will keep an eye out for updates on this or other CloakCoin projects.
CloakCoin donations are welcome to : CDswzkxhdkK6gY7jwUJnUNQDDGrMZJsrZc