CloakCoin: ‘We Had to Do Everything from Scratch, Only the Name Has Stuck’

CloakCoin: ‘We Had to Do Everything from Scratch, Only the Name Has Stuck’

CoinTelegraph spoke with Cloak team member Cashmen about overcoming the initial pump and dump by the original team, resurrecting CloakCoin, transitioning from proof-of-work mining to proof-of-stake, and its upcoming "PoSA3" release. In mid-2014, the first wave of cryptocurrencies similar to bitcoin but with improved anonymization features came on the market. CLOAK or CloakCoin, was one of the first and most promising projects. The price of cloak shot up reaching nearly US$6 million in market capitalization and a price of US$11.5 dollars per cloak. “[In] the Cloak community remained only....


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