ConcealCoin – Multiple Layers of Anonymity

One of the most captivating digital currencies at this point in time is CNL, also known as ConcealCoin. By offering extra anonymity features and a very short mining period, let’s see what else we need to know about ConcealCoin!

A detailed whitepaper in regards to the anonymity features is coming soon, but we have some information about how it all works. There are several stages to this process however, so I think it would be best if we do them in the right order.

First of all, ConcealCoin offers Burst Transactions. This is a built-in algorithm which allows for transactions to be divided into hundreds, or even thousands, of nano transactions. All of these transactions will be broadcasted through different peers.

Some of the most interesting bits about Burst Transactions include the option to adjust the amount per nano transaction and the size of each nano transaction. Last but not least, you as a user can determine the timeframe for your transaction.

The recipient of your transaction will receive his or her funds in smaller transactions.

In about a week from now, we will see phase 2 of ConcealCoin’s anonymity features. A Native Mixing Pool will be created (after the developers buy up 2% of the coins) , which will serve as an additional anonymity option.

In order to eliminate any possibilities of failure by the Native Mixing Pool, Overlap Protection will be implemented. This will ensure incoming nano transactions can not overlap with outgoing nano transactions. A very interesting approach I have to say!

I also mentioned how ConcealCoin will have a very limited mining period. It was so limited it actually already ended, despite this Crypto only launching on July 18th. During this period, 8.5 million CNL have been generated.

Let’s take a look at ConcealCoin’s technical specifications :

• Extra anon features

• Conceal Coin [CNL]

• Algo: X11

• Block time: 30sec

• Block reward: 3500 CNL

• Last POW block 2880.  (24 hours of mining)

• Total POW coins: 8,500,000 CNL

• POS starts at block 2000

• Block retarget: every block

• POS interest: 3% per year

• Coins stake after 24 hours

• Confirmations per transaction 5

• Coins mature after 100 blocks

• Premine: 0 (0%)

ConcealCoin can be traded on the BitTrex exchange. 

Other than anonymity (which is still hurting the world of Crypto and digital currency more than anything if you ask me), there isn’t too much special about ConcealCoin. No services are announced or in development at the moment, which is what you really need to make your coin somewhat successful.

I can understand that developers don’t want to “hype” projects, but a bit of planning ahead goes a long way. Projects can be announced without a release date, so your community knows something is coming at least.

ConcealCoin website : http://concealcoin.pw/

ConcealCoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=700289.0

ConcealCoin on Twitter : https://twitter.com/ConcealCoin