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      CloakCoin

      CloakCoin

      Total Supply
      5337555
      Circulating Supply
      5337555
      Max Supply
      0

      CloakCoin(CLOAK) price, charts, marketcap

      1 CLOAK = 0.0000105 BTC -4.64%

      About CloakCoin

      iming to provide complete anonymity and privacy of transactions on the network, Cloakcoin was one of the first cryptocurrencies to realise the “privacy” goal.It is a platform which enables users to participate in private, secure, completely decentralised and untraceable digital monetary transactions with a peer-to-peer network.Cloakcoin uses an off-blockchain mixing protocol called Enigma in conjunction with Cloakshield, its security infrastructure. The Enigma system allows every coin-holder (called a “Cloaker”) to act as a “mixer node” which ensures anonymity.Cloakshield uses ECDH (Elliptical Curve Diffie-Hellman)[2], an anonymous key agreement protocol which ensures security and end-to-end encrypted transactions on the Cloak network.

      Read more about CloakCoin

      Read less about CloakCoin

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      Total Supply
      5337555
      Circulating Supply
      5337555
      Max Supply
      0
      Total Marketcap
      0
      Volume
      16,849.72
      Open
      0.00
      High
      0.00
      Close
      0.00
      Low
      0.00

      Charts

      CloakCoin

      Exchange

      Period

      all 1y 6m 3m 1m 7d 1d

      Index

      Chart Type

      CoinExchangeData Loader

      History of CloakCoin(CLOAK)

      CloakCoin like all other cryptocurrencies is based on the model of the first actual cryptocurrency, Bitcoin. However, before Bitcoin’s and CloakCoin’s time , cryptocurrencies were much more different, relying instead on a centralized power structure rather than the decentralized governance we see today. If it weren’t for the works of cryptographers such as David Chaum, Wei Dai, Nick Szabo and Hal Finney, who established some of the ground concepts for modern cryptocurrencies, Bitcoin, Ethereum and CloakCoin would not exist today. However, the most important reason why CloakCoin was made possible is thanks to a person or a group of people under the alias Satoshi Nakamoto. He took the concepts that cryptographers before him established and managed to create an actual peer-to-peer electronic money system that couldn’t be counterfeited. If Satoshi Nakamoto didn’t create Bitcoin, it is hard to say if CloakCoin or most cryptocurrencies would exist today.

      CloakCoin is a cryptocurrency with the symbol CLOAK and it’s price ticker on our website is 0.00. Its current price is 0.00 and the total change over the past 24 hours is 0.00. CloakCoin boasts a volume of 16,849.72 in the past 24 across your selected exchanges.

      CloakCoin Characteristics

      Cryptocurrencies like CloakCoin use strong cryptographic protocols, or very complex computer code to secure transfers of information, in order to create a safe system that is notoriously difficult to crack. The programmer of digital currencies such as CloakCoin base these protocols on complex mathematic and computer engineering fundamentals, creating a structure that makes it impossible to replicate funds for CloakCoin and also hides the identities of the parties involved on any transaction on CloakCoin network , unless the participants freely disclose their information.

      CloakCoin Operates on a Blockchain

      CloakCoin, like most cryptocurrencies operates on a blockchain, a new and disruptive technology that offers benefits for storing, securing and transferring information that was not otherwise possible before its inception. The idea of blockchain was first discovered in 1991 by Stuart Haber and W. Scott Stornetta, however it was not until an anonymous person or group under the alias of Satoshi Nakamoto that created the first functional blockchain (Bitcoin’s blockchain) and improved on the ideas of Haber and Scornetta to create a truly functional distributed ledger.

      You can imagine the blockchain that CloakCoin is based on as a giant, distributed database where every transaction’s information is recorded and then spread on a massive network of connected nodes or computers. The information for transaction of CloakCoin is then multiplied and stored on each individual node, so in order to change it you would have to access he majority of the CloakCoin’s nodes at the same time, which has so far proven to be impossible.

      The advantages that CloakCoin runs on a blockchain are that it is very cost effective to run, compared to other centralized resources, due to the cost of operating being split amongst all the network participants.

      No one can alter the defining characteristics that govern CloakCoin base, unless certain conditions are met and changes are implemented by the developer team or a network wide consensus is reached for the changes to be applied.

      One disadvantage of operating on a blockchain is that generally, transactions with CloakCoin are final, meaning that is very unlikely that a transaction can be rolled back if a mistake occurs. Be careful when transacting cryptocurrencies such as CloakCoin and make sure you double check all the details of the transaction before submitting it.

      CloakCoin also boasts a higher degree of safety, as the mechanisms of the blockchain are incredibly hard to crack

      CloakCoin Advantages

      Decentralized Point of Control

      CloakCoin (CLOAK) is defined by a decentralized governance system, which does not rely on a single point of control to manage transactions on the network in the same way a bank would. Because of this CloakCoin’s network features a distinct advantage that makes it very difficult to counterfeit or imitate. Another advantage of being decentralized is that any attacks on CloakCoin’s network will have to be in multiple places at the same, whereas a bank or any centralized system will have an host of servers in one place.

      Cost Efficient

      Generally speaking, auditing records is a time consuming and expensive process, whereas for CloakCoin which stores all its records on the blockchain, this can be done with minimal effort and in a much shorter time.

      Establishing a Digital Identity

      You can create your own identity on the CloakCoin blockchain, which can be though of as an account of sorts. Whenever you open an “account” on the CloakCoin blockchain, you will be given a private key, which lets you interact with the blockchain, and a public key, which let others identify and interact with you.

      Immutable

      Since all information that is transmitted on the CloakCoin blockchain is stored and secured on a wide network of computers or nodes, you can always be sure that the information presented is valid and has not been tampered with.

      CloakCoin Supply Details

      CloakCoin is distinguished from traditional fiat currencies due to way the supply works for most cryptocurrencies. Another interesting fact about CloakCoin’s supply is there can be two other types of supply aside from the maximum supply. One is the total supply which indicates the amount of coins there are currently in existence. For CloakCoin the total supply is 5337555. This is the sum of all CloakCoin units that have been mined or created since the network’s creation. . The other one is the circulating supply which for CloakCoin is 5337555. This can be different that the total supply due factors such as funds being locked in escrow, coins being locked in masternodes.

      How to Store CloakCoin

      There are a few way to store your CloakCoins , and they all involve a certain types of both physical and electronic wallets. Regardless of what kind of wallet you will use, in order to access your CloakCoin funds you will need to have a private key and a public key. With the private key, you can access your funds and send them to whoever you like, just as long as it is an address that CloakCoin is compatible with. Never ever disclose your CloakCoin private key or also called private address, as this will give anyone who has it full control over your wallet. The other type of key is the public key or address, which is used for other people to send CloakCoin to your wallet, and this one can be freely disclosed but it can be used to identify you if a name is ever associated with your public address.

      CloakCoin Paper Wallet

      The only physical and non-electronic way to store your CloakCoin is through a paper wallet, and this is possibly the safest way to protect your CloakCoins. Simply write the private and public keys of your CloakCoin wallet on a sheet of paper, however you will need access to an electronic device should you choose to send or move your CloakCoin funds to another address. The risk here is losing or damaging the sheet of paper with your CloakCoin public key.

      CloakCoin Hardware Wallet

      You can store CloakCoin on a device like a Trezor or USB drive. You are able to make online transactions by plugging them into any any net enabled device to send CloakCoin to another address. Usually the hardware device that you store your CloakCoin on is offline which is a great security advantage. Please conduct proper research before purchasing any hardware wallet to store CloakCoin funds on as many are outdated or of poor quality.

      CloakCoin Desktop Wallet

      Desktop wallets are a convenient and easy way to store your CloakCoin coins. Find a reliable wallet software that support CloakCoin install it on your PC and that’s pretty much it. It can be dangerous if any virus infects your PC or if any physical damage comes to it, which can result in the loss of all your CloakCoin funds.

      CloakCoin Online Wallet

      For online wallets, they operate in the cloud and your private and public keys for your CloakCoin funds are stored in the cloud as well. Very handy if you plan to access it from multiple devices but they also put your CloakCoin at great risk due to security breaches in the cloud storage which is not that unheard of.

      CloakCoin Mobile Wallet

      The most easy-to-use method of storing CloakCoin is on a mobile wallet. It is a simple smartphone application where you set up an account and you can use it to send CloakCoin by scanning a QR code or even use it to pay in any shops that accept CloakCoin. However, your CloakCoin funds can be lost if your phone is damaged or if its security is breached.

      CloakCoin Summary

      CloakCoin’s network can be defined as a payment system, with accounts, transactions and balances. You can store CloakCoin on one of the wallet types mentioned above and it will act as your own personal bank account that you are responsible of maintaining and keeping your private keys secure. CloakCoin as a cryptocurrency allows you to make secure transactions and you can always check the transaction details by checking the CloakCoin public ledger, if applicable. This revolutionary method of being your own bank assured that CloakCoin and other cryptocurrencies will play a vital role in the way we conduct transactions and how we define currencies in the future.

      What you can do with CloakCoin on CoinExchangeData.

      You can add CloakCoin to your watchlist on our platform, in order to keep better track of its price movements. Another handy way to always be up-to-date with any prices changes is to add alerts for CloakCoin and you can do so by set up your personalized alerts by creating an account and going to the alerts tab. Charts and price metrics for CloakCoin are readily available and we guarantee that the information supplied by CoinExchangeData is as accurate as possible. All the volume and price information regarding CloakCoin reflects the same information you can find on exchanges, so it is very easy to find the best exchange to purchase or sell CloakCoin on. Our converter lets you find accurate conversion quotes for CloakCoin against other cryptocurrencies and most traditional fiat currencies. You can use it to see if exchanging CloakCoin for another digital currency can be a more profitable investment or just to check the value of your portfolio.

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