CloakCoin (CLOAK)

CloakCoin Token Profile (PDF)

CloakCoin is a privacy focused protocol released in June 2014. The architecture of CloakCoin is similar to Dash as it relies on staked full nodes that perform specialized services. CloakCoin differs from most privacy-preserving cryptocurrencies as it employs a shielded Proof-of-Stake consensus mechanism. The project uses a native mixing mechanism called ENIGMA for the creation of private transactions. Coin mixing, or tumbling, is a common blockchain obfuscation mechanism that mixes the senders (inputs) and receivers (outputs) within the same transaction. CloakCoin differs from other protocol-based mixing services by providing its full nodes a TOR-like onion routing system for intercommunications. Like Dash, this mixing service is provided by a group of masternodes in the network. ClockCoin transaction fees are 1.8% of the sent amount, making it one of the most expensive privacy-preserving cryptocurrencies. As of February 2018, the identities of all core developers are unknown.