CloakCoin CLOAK

Market Cap $ 5.715 MM (#334)
24h Volume $ 192.452 K
Chg. 24h: 6.00%
Algo. score 3.3/5  (#331)
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CloakCoin News

CloakCoin has officially joined the @Binance_Info transparen...

CloakCoin has officially joined the @Binance_Info transparency initiative. By sharing project-related information s…

a day ago

We're glad to announce that CloakCoin has been listed on @Cr...

We're glad to announce that CloakCoin has been listed on @CryptoWolf_eu an instant cryptocurrency exchange! 🐺▶️…

8 days ago

We're very pleased to announce the new Raspberry Pi wallet -...

We're very pleased to announce the new Raspberry Pi wallet - CloakCoin v2.2.2.0 'rEVOLUTION' with ENIGMA Engine v1.…

22 days ago

Op Ed: It’s Time to Reject Mediocrity, #ExitFiat and Embrace Bitcoin

When the towers in New York fell, I became obsessed with economics. I wanted to follow the money to understand what happened on that dreadful day. During that time of inquiry, I found myself very interested in Austrian economic theory. Soon enough, I realized that the reserve banking system was systemically corrupt. How can you have money based only on debt? How can central banks print debt out of nowhere and demand interest for that?It was a question that caused me to create the world’s first website where people swapped clothes online, in an attempt to enable people to stop using fiat debt certificates. I soon realized that swapping was a terrible way to trade. For instance, if Alice really likes a dress from Belinda but Belinda doesn't like anything Alice has, then the deal falls through. That's unfortunate. So then, how do I create a digital token that is used in the market so Alice could just pay Belinda a token for the dress that Belinda can trade with anyone else in the marketplace? Hmm, I thought. But if I issue the website’s own internal currency then I'm back to central banking, back to one company deciding what's good for the economy, inflation and everything else would be up to me. We built Swapstyle as an alternative economy based on swapping, as a tool to get around fiat — not become a new fiat. The more I thought about swapping and alternative currencies, the more I realized that money needs to be decentralized with no controlling power — it needs to be released from a network. But this was impossible. I read Adam Back’s HashCash and Nick Szabo's bit gold papers. Europe and the Netherlands, in particular, had interesting pockets of innovation. These were people deep into cryptography; these were scientists with the same goals: to decentralize money in the internet age, an age that had us all in a dichotomy: It could free humanity or place it in digital bondage, control and servitude. Enter, BitcoinIn late 2010, Satoshi's white paper crossed my desk somehow. WOW, OMG! SHE SOLVED IT! This anonymous person has solved the double-spend problem in a decentralized network! I fell down a rabbit hole that frankly I'm still falling down and loving it. I incorporated bitcoin into SwapStyle in 2011 and none of the members knew what it was. I would send them to Gavin Andresen's amazing faucet that was giving bitcoin away so people could try it. The Libertarian and anarchist roots were also really strong in the community so I gravitated toward reading more about the philosophies of Murray Rothbard, David Friedman and other great thinkers. I moved to Germany in 2013 and founded Room 77, the first brick-and-mortar place in the world to accept bitcoin. The first time I arrived, I felt at home: There were pictures and quotes of Julian Assange and Aaron Swartz hanging on the wall, Bill Hicks playing in the restrooms and, at the bar, long conversations on philosophies of Friedrich Hayek, Murray Rothbard, Ludwig von Mises and many more. These were the types of people that wanted to change money for a reason: for the sake of freedom and independence from the banking system or the system of control altogether. One guy I met there always wore a balaclava if there was a camera present, had tape on his fingertips and kept a small pebble in his shoe to throw off gait recognition patterns. I felt like he was more of a living art piece, warning the world of the Orwellian nightmare we, as a society, seemed to be blindly walking into because if anyone stuck out like a sore thumb, it was him.During this time, there was a sense of building an exit door, a cloak to help fend off the encroaching Big Brother state. Germans have seen many governments go sour and Berlin was, of course, central in one of the largest, both during WW2 and then the East German Stasi during the Cold War. Wherever I went, the talk was about freedom, about liberty. The community was full of crazies, misfits and outliers with off-the-chart IQs. The thing that we all knew, though, was that Bitcoin had arrived and it was an invention that could not be stopped and could not be taken down, and that this was the dawn of a new era, a total disruption in money and government as a whole.Gavin Andresen speaks at the first Bitcoin Conference in New York, October 2011.Countering the Present MediocrityNowadays, I speak at countless conferences. But these conferences are different. They are filled with bankers and regulators, with lawyers and scammers, promo girls, hookers, suits and Lambos. I always try to bring it back to the fundamentals and the reason why Bitcoin is so important. It seems that, since mainstream adoption has started, it's been all about Lambos, hot girls and macho celebrations of mediocrity. I realize that this is what the mainstream kind of looks like. The reason bitcoin and cryptocurrencies, in general, will win the fight to be the new money in the long term is that if you are not excited by the philosophies of decentralized money, then the t

22 days ago

We're happy to announce the third episode of Around The Cloa...

We're happy to announce the third episode of Around The Cloak, your monthly video update on progress and developmen…

a month ago

How to buy @CloakCoin with @Netcoins Netcoins allows users...

How to buy @CloakCoin with @Netcoins Netcoins allows users to purchase CloakCoin with fiat at over 21,000+ retail…

a month ago

New Kids On The Blockchain

With over 11k subscribers on YouTube, the New Kids On The Blockchain are an award-winning team of documentary makers with a thirst for cryptocurrency and blockchain. Starting the channel in 2017 in order to produce a feature-length documentary on the rise (and possible fall) of the ICO. The Kids have travelled the world extensively working with key players and opinion leaders in the space. They have also been following a number of important projects, such as The Pillar Project, throughout the whole stage of their creation, ICO and development, to get the ‘inside story’ on this fascinating world. Some of the people filmed include Roger Ver, Clif High, Ryan Taylor (CEO DASH), Jeff Berwick (The Dollar Vigilante), JSNIP4, Bix Weir, Crypt0, Reggie Middleton and many more and worked with projects such as: Dash, Elastos, EOS, Debitum, Pillar, Veritaseum, PIVX, Cloak, Funfair, Polymath, Oracle, IBM, Ledger, Abra and ICO Alert, to name but a few. The New Kids do quick rundown videos several times a week on the most significant news that comes out of the industry. The rundown videos are around 1-3 minutes long so it’s a good way to keep up to date with what’s going on without eating up to much of your time. Key media partners for a number of blockchain events worldwide they started their channel about 18 months ago to bring quality, informative and intelligent content around blockchain and cryptocurrency as opposed to the usual Moon-Lambo nonsense and host a daily show, weekly show and a wealth of other informative content. As the only ‘Crypto Couple’ in blockchain communication, they also offer a unique viewpoint and well-rounded opinion from different perspectives of the industry. So head over to YouTube now and subscribe to the New Kids On The Blockchain to keep up to date with everything to do with the crypto space! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post New Kids On The Blockchain appeared first on Crypto Daily™.

2 months ago

Stolen Identities, Telegram and ICO Scams: If the Co-Founder of Ethereum isn’t Safe, Who Is?

LaneAxis uncovers sophisticated fraud attempt targeting ConsenSys founder Joseph Lubin When the Equifax data breach occurred in September 2017, crypto guru and Ethereum co-founder Joseph Lubin was quick to criticize corporate mishandling and monetization of user data, doubling down on his call for heightened digital security via decentralized networks. Lubin stressed the importance of protecting our online identities: “...hack after hack after hack and the resulting time and resources devoted by government agencies attempting to safeguard identity, how can regulators not be excited about the Ethereum blockchain? An immutable and transparent protocol with products where each individual owns all aspects of their identity. No more widespread hacks.” -There is another way: The Equifax Hack and the Road to Decentralization But just a year later, Lubin’s own identity and brand were hijacked on the internet. On September 13th Rick Burnett, CEO, and founder of LaneAxis received a message from Lubin via Telegram, “LaneAxis: want to know more...” Burnett, who is currently launching LaneAxis Virtual Freight Management’s Ethereum-based supply chain management ecosystem, was unaware of who exactly Lubin was, but offered to speak with him and share more information about the company and its blockchain and token sale project. After a short call, Lubin said he would mull over the information and take a few days to examine the LaneAxis platform. Burnett, curious about the mysterious potential investor, Googled Lubin. Ethereum Co-Founder. ConsenSys Founder. Billionaire. Entrepreneur... Google’s news feed on Lubin pulls up a near constant stream of stories featuring Lubin investing in blockchain-based startups or offering sage advice about the future of crypto. Burnett was stunned. This could be game-changing for LaneAxis. Companies partnered with ConsenSys often sell out their tokens within minutes of receiving backing from Lubin. The LaneAxis team immediately went to work researching Lubin and ConsenSys. The first move was to verify that the Telegram messages were actually from Lubin. Telegram is the preferred communication platform of the cryptocurrency community due to its ability to encrypt messages as well as its robust group chat features. The app allows for the creation of public usernames, helping platform users contact anyone else on the network who has also created a username. Like any other network, usernames must be unique, and personal names are rarely available. However, Telegram does offer users with an “online identity” to secure a username if the same name is used for at least two other different social accounts [Facebook, Twitter, Instagram]. Lubin’s Telegram name is @ethereumJoseph. His verified Twitter handle is also @ethereumJoseph. Based on his Twitter, Burnett and the team concluded ConsenSys and Lubin must have secured his verified Twitter handle for Telegram as well, and this was indeed the real Lubin. For the next week, Burnett messaged Lubin, receiving blunt responses almost stereotypical of a jet-setting billionaire managing a plethora of business ventures. Finally, Lubin messaged Burnett on September 15th with an offer. Lubin: “How can I be of help?” Burnett: “I would love you to be involved at whatever level you want to be involved. Investor? ConsenSys? Team member and let us do a press release that you are involved. You tell me and I’m in.” Lubin: “How about a partnership with ConsenSys?” Burnett: “Yes. How do we proceed?” Lubin: “I’ll send you more information on Monday.” The LaneAxis team spent the rest of the week preparing for the deal and coordinating with Lubin. Lubin sent a ConsenSys contract to Burnett from his personal email, [a non-ConsenSys email address], which Burnett thought a bit strange and questioned Lubin. Lubin claimed it was his personal email. Burnett initially found it odd but reasoned that a person of Lubin’s stature might use company-independent emails for correspondence, and, potentially, business deals. Burnett did not want to spook a deal with a seemingly eccentric tech billionaire and pressed on. The contract centered around a token exchange. Provided ConsenSys passed due diligence and met the terms and conditions of LaneAxis’ token sale, LaneAxis would receive ConsenSys backing and $2.2 million in Ether for $2 million of LaneAxis’ AXIS tokens. Both companies would be required to keep sixty percent of the received tokens as company reserves and forty percent for utilization. Burnett received the signed contract on ConsenSys letterhead with Lubin’s signature. The LaneAxis team celebrated what they thought was a partnership with ConsenSys. Lubin put Burnett in contact with James Slazas, Head of Capital Markets at ConsenSys, via Telegram to carry out the contract. After receiving a signed contract from Lubin with ConsenSys watermarks, addresses, and information, Slazas provided the transfer details and sent Burnett two crypto wallet addresses for the exchange. That’s

2 months ago

Grin Coin And MimbleWimble: An Introductory Guide

What Are Grin And MimbleWimble? Grin coin is an implementation of the MimbleWimble protocol. Grin aims to be a scalable privacy coin that has no addresses, no amounts, and is therefore less storage intensive than other privacy coins and digital currencies. The coin has an anonymous founder, has been developed by the community, and Grin is slated to have a fair proof-of-work launch in Q1 2019. Its mining algorithm is ASIC-resistant, meaning you can mine Grin with your laptop. The MimbleWimble protocol is a design for a blockchain-based ledger where there are no addresses and the data storage required is minimized. It is a private-by-default blockchain that is also scalable and uses elliptic-curve cryptography that has been tested for decades. When compared to Bitcoin, MimbleWimble only needs to store 10% of the data requirements which means that it is more scalable, less centralized, and significantly faster. Grin and MimbleWimble: History On August 2nd, 2016 a text file was posted anonymously in a Bitcoin development forum outlining the early-stage of the MimbleWimble whitepaper. The purpose was to soft fork this design for a blockchain-ledger into Bitcoin as a solution to the scaling problem and to add private transactions. On October 20th, 2016 a different anonymous developer posted on the same forum that he was working on an implementation of MimbleWimble - it was called Grin. When Satoshi first wrote the Bitcoin whitepaper its purpose was to become a peer-to-peer electronic cash system. High transaction fees and opportunity costs of using bitcoin have transformed its major use case into being more of a store of value. Right now, crypto is lacking a true currency to act as a medium of exchange between parties because no coin has all four cornerstone properties of global, fiat-free digital cash: price stability, scalability, decentralization, and privacy. Grin’s implementation of MimbleWimble hopes to solve these four areas differently and more effectively than any other currency-focused digital asset available today. Private transactions are imperative to have fungible tokens, which are needed in a currency used as a medium of exchange. In the case of Bitcoin, some investors will actually pay a premium for tokens with no previous transaction history, and in the future we may see an economy where bitcoins that have ever been associated with nefarious addresses may be harder to move. In general, why would you ever want all of your purchases to be transparent for everyone in the world to see? There are privacy, security, and personal risks associated with doing so. Grin was the first project to implement MimbleWimble and the community-based project launched its testnet in November 2017. The fourth and final testnet before launching the mainnet now has its own branch and is ready for release. My best estimate is that we will see a Grin mainnet launch in early 2019. The project is called Grin as a nod to Gringotts Wizarding Bank in Harry Potter. How does MimbleWimble work? Understanding MimbleWimble requires a basic understanding of Bitcoin’s unspent transaction output (UTXO) model: If Alice sends 1 bitcoin to Bob she’s not just transferring a 1 bitcoin balance to him like a cash society, which looks like: Alice -1 Bitcoin Bob +1 Bitcoin That makes sense doesn’t it? But that’s not how bitcoin accounting works. Every transaction is made up of a bundle of inputs and outputs that go from one person to another. So, Alice’s 1 bitcoin transaction to Bob her wallet software is bundling up inputs from previous bitcoin transactions that make up the 1 bitcoin she is sending Bob. Sometimes there can be hundreds of inputs in this transaction, and each transaction needs to be individually signed by the wallet software. As you can see, this adds a lot of data to the blockchain and becomes cumbersome. Alice’s transaction might look more like this: Alice - [0.2+0.1+0.7], where the [X+Y+Z] are previous transactions that need to be bundled and validated by Alice’s wallet. It’s a bit intricate, but this is a proven consensus model that has been shown to be secure. Other models provide security that is more experimental. MimbleWimble changes this bitcoin model by creating one multisignature for all of the inputs and outputs. The parties involved in a transaction create one public multisignature key that can verify the transaction. There are no addresses in the system because two parties engaging in a transaction share what’s called a “blinding factor” where only those two parties know they are engaging in a transaction; keeping the privacy of the network. A blinding factor is a shared secret between the two parties that encrypts the inputs and outputs in that specific transaction as well as the transacting parties’ public and private keys. MimbleWimble utilizes a Pedersen commitment scheme where full nodes subtract the encrypted amounts on the sending side of transactions (inputs) from the encrypted amounts on the

2 months ago

We're very pleased to announce a new wallet release! CloakC...

We're very pleased to announce a new wallet release! CloakCoin v2.2.2.0 'rEVOLUTION' - ENIGMA Engine v1.1 for Wind…

2 months ago

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