Review on CloakCoin by Robiul Islam
A pretty old coin.
This is one of the first cryptocurrencies to realize the purpose of privacy, in order to give the network the complete anonymity and privacy of transactions. It is a platform that enables users to engage in private, secure, fully decentralized and continuously digital financial transactions with P2P networks.
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Pros
- It uses an off blockchain mixing protocol, in combination with its security infrastructure. The system allows each currency to act as a mixer node without anonymity.
- An anonymous key contract protocol that ensures network security and end-to-end encrypted transactions.
- To make coins available for everyone with a smartphone or a decent desktop, the developers built it on a POS consensus system, which doesn't require complicated hardware for mining.
Cons
- It is a strong competitor in the crypto market at this time, with great demand for privacy and short supply.
