Review on CUTcoin by Fanuel PORPORTY
CUTcoin : Anonymous Cryptocurrency Based On PoS Consensus
The non-traceable hidden transaction coin - is the world's first cryptocurrency that combines full anonymity and the proof of participation consensus algorithm. CUTcoin allows untraceable and anonymous transactions: using a distributed public register, the sender and the recipient are kept anonymous. The development team has been pushed back from the basic Monero code, which has been improved considerably.
The CUTcoin problem started in December 2018 with the PoW extraction phase (2% of the total supply), and later in March 2019, it successfully migrated to Proof-of-Stake. Currently, CUTcoin team members are working on various privacy tools for blockchain and DLT and are also designing a framework for tokenizing assets using the CUTcoin kernel. To put it simply, you just need to create a portfolio and start staking. According to the PoS calculator on a website, with 10,000 initial CUT coins, staking will bring you 20% reward in 31 days with a probability of almost 98%. Thus, given the potential for growth, the staking of CUT coins can be considered as an alternative to existing investment options in the cryptocurrency market.
Pros
- The CUT coin is a true PoS coin and not a hybrid / main node solution.
- CUT coin uses the latest advances in cryptography to authorize anonymous transactions. Wallet balances, transaction amount, sender and recipient are private by default on the blockchain. The CUTcoin Proof of Stake consensus is the first in history to keep the total amount of coins completely hidden, even in staking wallets.
- Intracability of transactions
Cons
- CUTcoin can be used in the Darknet for illegal activities.
- Anonymous cryptocurrencies do not facilitate regulation
