Review on GHOST by Pedro O. Alvino M.
Privacy project created by John McAfee
Open source project developed from certain characteristics of Bitcoin, is constituted in privacy through RingCT and transactions are verified through zero knowledge tests. One of its founders who started the project was recognized by John McAfee who has currently taken the project with a closure in the coming months, although he pointed out that he is still connected to the Ghost project.
Composed of privacy for users, the project is developing the ability to send funds through a reserved alias that corresponds to a hidden address, where Ghost will only allow alias addresses using underlying hidden addresses to process the link and in a completely decentralized way.
Developed with a proof-of-stake algorithm, the project is not comprised of a network of masternodes to secure the network, since according to the developers they hinder some ecosystem functions, for this reason a phantom veteran function was implemented that will consist of a separate group of ghosts that have been accumulated for each block during a period of 30 days and to receive these rewards requirements must be met such as the minimum processing of 20,000 Ghost and keep the funds fully intact in the wallet, so for some it will be very limited to have this access to participate the network.
Pros
- Completely decentralized project.
- Uses RingCT and stealth addresses as a means to ensure user privacy.
- It is designed with an inflationary reward structure in the chain.
- It has several GHOST coin staking functions.
- Allows GHOST holders the opportunity to vote on future developments.
Cons
- There are already a large number of privacy-based projects.
- One of its world-renowned founders John McAfee abandoned the coin and declared the project bankrupt.
- To integrate into the ghost veterans rewards system the requirements are very high and strict.
