Review on CloakCoin by Syed Adnan
Complete anonymity and privacy of transactions.
However, its technology, which is still advanced and promises full privacy, nevertheless places it as an attractive cryptocurrency. After all, who doesn't want privacy when spending money in a world where information and data all mean it?
Its reward system is also very interesting. In addition to the 1.8% transaction fee rewards, the annual interest rate of 6%, must be guaranteed every time you help someone complete a transaction on the network.
Pros
- This is one of the first cryptocurrencies to come up with the idea of private, anonymous transactions, when it launched in 2014, it created a unique idea.
- One thing that sets it apart from other cryptocurrencies is that it uses an off-blockchain system to encrypt transactions, indicating that transactions never appear on the blockchain.
- It is a P2P network in which the currencies, act as a mixer node during the transaction and pay a 1.8% transaction fee.
Cons
- This market cap and ranking is not encouraging, considering how long it has been in the crypto market.
