Cloak’s Transaction System Enigma is Open Source – A Milestone for Privacy


After three years of hard work, countless hours of programming, passion and perseverance for a shared vision, CloakCoin has reached a new milestone in building the world’s safest cryptocurrency.

ENIGMA, the in-house payment system is open source as of 31st December 2017. Anyone can now take advantage of CloakCoin’s Transaction System.

At the heart of CloakCoin is ENIGMA, protecting you from access by third parties, such as hackers, official bodies or any unwanted parties. The blockchain payment system encrypts the transactions of users and prevents transaction tracking while providing secure transactions with a maximum processing time of 60 seconds.

Thus, CloakCoin’s ENIGMA ensures full privacy combined with speed.

Many advantages that are hard to find at other cryptos and which are now easily accessible to you, the end user.

By making ENIGMA freely available, CloakCoin aims to provide its community with the transparency it deserves and gives prospects the opportunity to leverage their proven payment system.

While your own privacy is being eroded day by day, piece by piece, CLOAK rebuilds it where it matters most. ENIGMA protects your finances and transactions from sightings by unwanted parties. With the Open-Source, the team of the CloakCoin expressly declares this security. The team now stands behind the promise of making its technology freely available.

A clear manifesto at a time when heroes like Edward Snowden are being persecuted by the law and espionage is being run by the state on a grand scale, protection is more important than ever before. Nobody should give away more information than he or she wants to reveal.

Along with this manifesto and the resulting enhanced transparency, there is an opportunity to collaboratively advance CLOAK. The community, technology experts and prospects are encouraged to use its technology freely and share these improvements with the Cloak team. By doing so, CLOAK expects to receive new impulses from outside and acceleration of its establishment in the markets. The common welfare stands in the foreground.

CloakCoin is aiming for a whole new level, which will be confirmed by a quality audit of an external company in January and increased promotion of the ENIGMA technology. Already CLOAK’s current increasing value confirms its growing prominence.

CloakCoin redefines data privacy and makes its vision become reality.

Website: http://www.cloakcoin.com
Chat. http://chat.cloakcoin.com
Open Source: https://github.com/CloakProjectDev

 

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.





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Culture Shock: Bitcoin a Part of All Walks of Life in 2017
Dec31

Culture Shock: Bitcoin a Part of All Walks of Life in 2017


2017 saw Bitcoin permeate all walks of life, from Google searches to sold-out graphics cards.

2017 will go down as the biggest year in Bitcoin’s history – with meteoric highs paving the way for the preeminent cryptocurrency bursting into mainstream consciousness.

December will forever be remembered for Bitcoin’s massive price correction after hitting the $20,000 milestone, but a lot happened in the lead up to the climactic end of the year.

Rewind to January 2017. Bitcoin had just broken through the $1,000 barrier and the talk among crypto enthusiasts was that the virtual currency was set for a bullish year. It’s fair to say that no one anticipated an eventual 2,000 percent growth before the market correction, but the statistics will tell a different story.

Google stats

A quick glance at Google Trend’s analytic graph shows that interest in Bitcoin had a small peak in May, while it really started to garner interest worldwide around the time that SegWit2x was postponed and the Bitcoin bull run began.

trends.embed.renderExploreWidget(“TIMESERIES”, {“comparisonItem”:[{“keyword”:”Bitcoin”,”geo”:””,”time”:”today 12-m”}],”category”:0,”property”:””}, {“exploreQuery”:”q=Bitcoin&date=today 12-m”,”guestPath”:”https://trends.google.com:443/trends/embed/”});

It was, however, the second most searched news term globally in 2017, while it came up third in the often hilarious ‘how to’ search category.

Top Google Trends 2017

Interestingly enough, the countries where Bitcoin was most often searched were not massive first world economies, but growing ones. South Africa topped the list, followed by Slovenia, Nigeria, Ghana then Australia.

trends.embed.renderExploreWidget(“GEO_MAP”, {“comparisonItem”:[{“keyword”:”/m/05p0rrx”,”geo”:””,”time”:”today 12-m”}],”category”:0,”property”:””}, {“exploreQuery”:”q=%2Fm%2F05p0rrx&date=today 12-m”,”guestPath”:”https://trends.google.com:443/trends/embed/”});

Occupying top spots in Google’s search trends is no mean feat. It tells us that people were searching hard for information on Bitcoin, whether it was for the latest price updates or how to setup a Bitcoin wallet.

Bitcoin also occupied the number one spot for the most searched term on Investopedia – the world’s go-to encyclopedia for financial and economic terms and information.

Miners delight – cards in demand

As interest in Bitcoin and cryptocurrencies grew, the average PC gamer and overclocking enthusiast saw their chance to get in on the action by using their hardware to support the world’s mining operations.

Mining enthusiasts wasted no time getting in on the action which quickly led to a massive surge in demand for graphics cards – which are needed to solve the cryptographic puzzles that are used to validate transactions on cryptocurrency Blockchains.

Just half-way through 2017, graphics card manufacturers AMD struggled to keep up with the demand for cards.

Rivals Nvidia boasted superior stock prices this year and the adoption of Blockchain technologies by the likes of Uber and Airbnb led analysts to predict even greater growth as both chip manufacturers hold the key – hardware.

Nvidia’s stock price even mimicked Bitcoin price for the better part of the year – although the company was uncertain of its future in the market amid regulatory changes in China, which accounts for a large contingent of the world’s mining operations. Proposals were made to manufacture mining specific chips to protect the company from constantly changing consumer needs.

Bitcoin gets celebrity approval

Along with its newfound notoriety, Bitcoin and cryptocurrencies also got a celebrity stamp of approval in 2017.

Boxing superstar Floyd Mayweather grabbed headlines on numerous occasions, as he stepped in to promote a number of ICOs using the Ethereum Blockchain.

Football giant Leo Messi also joined the fray in an endorsement deal with Sirin Labs, which creates hardware to support Blockchain technology.

The list literally goes on and there are some surprising names here. Top of the list is rapper Snoop Dogg, alongside actors Gwyneth Paltrow and Ashton Kutcher.

Luxury items for sale

As Bitcoin boomed, more people looked to take advantage of the appreciation in value which saw some luxury items, from mansions to custom cars, go on sale – not in dollars, but in Bitcoin.

For the right price, people could get their hands on a golden Rolls Royce, a Caribbean island, an upmarket flat in England’s famous Notting Hill, or a mansion in Miami.

Trying to keep up

The explosion of interest in Bitcoin was a boon to the market but it also proved to be a massive stress test for exchanges, their servers, infrastructure and payment systems.

From November onwards, major exchanges like Coinbase, Gemini, Bitfinex and others had to upgrade their systems to meet the massive influx of new users trying to open up wallets on their exchanges.

This caused a major headache for many users due to the slow transaction speed. However, without the massive increase in volume, many of these exchanges may not have upgraded their systems – which is crucial in the development of more efficient exchanges.

Media spotlight

The ever-growing interest in Bitcoin inevitably led to the subject being covered more extensively by mainstream news outlets. The likes of CBNC, Fortune, Bloomberg, CNN and Fox to name but a few ramped up coverage on the subject.

Every other day, these media giants hosted financial analysts, cryptocurrency experts, Blockchain engineers, basically anyone with a wealth of knowledge on the subject to help inform opinion.

As mentioned above, Bitcoin was the second-most searched news term on Google – feeding traffic to these websites and their various interviews.

Financial experts like billionaire hedge fund manager Mike Novogratz and renowned stock analyst Ronnie Moas led the way in terms of price predictions. Meanwhile, traditional financial institutions like JP Morgan, Bank of France, Coutts Bank were staunchly opposed to cryptocurrency adoption – as was reported by numerous mainstream news outlets.

If 2017 was anything to go by, we are in for a bumper new year. The cryptocurrency market valuation is bound to be top of the list, but constant advances in Blockchain tech and new offerings should see crypto garner more media interest in 2018.



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As Prices Dip, Bitcoin’s Market Dominance Slips Towards New Low–and the Market is Better for It
Dec31

As Prices Dip, Bitcoin’s Market Dominance Slips Towards New Low–and the Market is Better for It


The post As Prices Dip, Bitcoin’s Market Dominance Slips Towards New Low–and the Market is Better for It appeared first on CCN

It’s dipping season, folks.  Well, it was dipping season.  Yesterday, assets all across the cryptocurrency market were getting hammered, and the ubiquitous price dent had 89 out of Coin Market Cap’s top 100 turning red at the time of our first draft’s initial coverage. During this latest dip, Bitcoin went sub $13k.  As of press

The post As Prices Dip, Bitcoin’s Market Dominance Slips Towards New Low–and the Market is Better for It appeared first on CCN



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ICOs Raised $4 Bln in 2017, What 2018 Has in Store
Dec31

ICOs Raised $4 Bln in 2017, What 2018 Has in Store


In 2017 ICOs raised less than 2% of global IPO proceed but almost 40 times more than year ago

2017 has definitely been a record-breaking year for ICOs: a fiat equivalent of some $4 bln have been raised, and the number of successful token placements have increased to a couple of hundreds globally. Yet, in the same year, traditional IPOs are estimated to have raised $188.8 bln in total of 1,624 deals, according to E&Y IPO Global trends report. Only in third quarter, 2,645 venture capital deals amounted to $42 bln.

ICOs have raised less about two percent of global IPO proceeds, but ICOs not IPOs, and not venture capital deals, are the talk of the street these days. Why?

In one year only ICOs proceeds have surged almost 40-fold, from $96.3 mln in 2016. In 2014- 2015 the amount was microscopic. More than 180 new ICOs are scheduled to launch in 2018, according to ICObench listing.

It would be superficial and arrogant to explain the ICO explosion only by desire of newly-rich crypto-miners to invest their unexpectedly reevaluated digital assets in something productive and to protect themselves against volatility. It may be the case, but it doesn’t explain the whole case. In fact, there are three root causes of ICO success.

The good reason

ICOs and cryptocurrencies exploit fundamental flaws of the traditional funding methodologies. They bring justice and equality to projects from underprivileged geographies, sectors, and don’t rob founders’ share while doing so.

Traditional financing is tilted towards an intermediary, not a creator, and it is designed to lower the risks of that intermediary, not the investor or founder while maximizing intermediary’s yields. It basically works around the principle of Matthew 12:15 – “Whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them.” Simply saying, it takes money to get more money.

Classic venture financing is orders of magnitude harder to achieve for those who live outside global hub cities. Most US funds won’t even consider financing an enterprise not domiciled in the US. Venture capitalists normally claim a hefty part of the equity in exchange for the money, so investors, irrespectively of their share, greatly influence the decision making of the founding team, and not always for good.

The first answer to these problems were crowdfunding platforms. ICOs have just made another step towards reducing the friction behind crowdfunding, de-intermediating it further.

The bad reason

Getting venture financing, let alone reaching for IPO afterwards, requires the team to distract themselves from the product development, marketing and promotion. Compliance, legal and due diligence procedures make the auxiliary mission of securing the funds for the project a separate task, as complicated or even more complicated than launching the product itself.

It’s not the only reason behind the ICO triumph.

Despite cyber-anarchists’ wet dreams, states won’t go anywhere anytime soon, and legal norms for ICO didn’t appear out of thin air. As they say in the military, service regulations are written in blood – of those who died to teach others a lesson. Stock exchanges and financial markets are regulated not exclusively to keep the profanes out. It is because most scams, frauds and crashes have already happened there. Sooner or later, ICOs will be regulated. And we should rather be a part of the solution to this problem, not the problem itself.

The ugly reason

In ideal post-Blockchain smart-contract, self-governing, crypto-anarchic world,  imagined by technophiles, we should all be singing “Hosannas” by now, praising human progress and ingenuity.

But we wouldn’t be humans if a life-changing invention weren’t used to cheat, defraud and steal. Cryptocurrencies and subsequently ICOs aren’t an exception, and there are and always will be frauds of course. Traditional financing doesn’t necessarily offer substantially better investor protection. Even the most stringent due diligence doesn’t guarantee against fraud. Crypto investment schemes are especially prone to it because of anonymity.  

ICO segment is still in its infancy, yet this baby is gaining weight alright. Childhood illnesses are many. First and foremost, crypto world has a severe reputation problem. The SEC calls for extreme precaution when investing in ICOs. To gain trust, we should start from within, and establish it first with the community.

Even in the absence of governmental regulations, self-regulation framework of ICOs will inevitably arise. Moreover, to avoid overregulation and unnecessary intervention of governments, it is essential that the community keeps policing itself better than any regulator. That’s exactly where the sector is headed – otherwise, it won’t survive.

What to expect in 2018

In coming year ICOs will offer more projects to serve the broader community, not limiting itself anymore to the Blockchain infrastructure development, payments and speculative trading. It will less much less revolve around purely financial technology. In 2017, we have already seen examples of Blockchain notary public, Blockchain-based real estate investment, loyalty programs, supply chain management, intellectual property rights management and other real-world applications. We’ll see more of that in 2018.

– By Sergi Dromo

Sergi Dromo is a cyber pessimist, techno-philosopher and unorthodox thinker.



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Bitcoin Core ‘Suicide’? Roger Ver Says Tips Mean Bitcoin Cash Is ‘Working’


· December 31, 2017 · 9:00 am

Bitcoin.com owner and pro-Bitcoin Cash figure Roger Ver has highlighted interview tips as apparent proof that Bitcoin Cash is “working well.”


Currency-Focused Ver Continues Bitcoin Crusade

Linking to his appearance on a November episode of online political talk show The Rubin Report, Ver said that Bitcoin Cash wallet tips outnumbering Bitcoin tips 76-1 afterwards showed Bitcoin itself was “committing suicide.”

The Rubin Report has followed the likes of mainstream media outlets, such as CNBC, in selecting the increasingly contentious Roger Ver as a spokesman on Bitcoin for non-cryptocurrency viewers.

Confusion In Numbers For Mainstream Consumers

The hour-long interview came at a time when tensions between Bitcoin (BTC) and Bitcoin Cash (BCH) communities were increasing, with Ver using media platforms to highlight BCH’s alleged benefits while warning users about alleged problems with BTC.

While it is suspected staff at CNBC subsequently colluded with BCH executives, including Ver, to produce infamously aggressive anti-Bitcoin Twitter content this month, the Bitcoin.com owner maintains that his Bitcoin fork is the “real” Bitcoin.

During the interview, Roger Ver told host Dave Rubin:

If you have two versions of Bitcoin, one is slow, expensive and unreliable (Bitcoin SegWit) and you have another version of Bitcoin which is super fast, reliable and cheap, it’s not a tough decision.

While his words closely matched previous appearances on CNBC and elsewhere, Ver’s plug says little about Bitcoin.

After advocating BCH throughout the interview, it is perhaps no surprise that the altcoin’s other proponents praised Rubin with tips, while BTC users withdrew their support.

In the month following the Ver interview with David Rubin, BTC prices have settled after a period of intense volatility, with BCH’s daily losses continuing to outpace them in USD terms.

Ver meanwhile continues to advertise BCH’s alleged use cases as a currency, claiming on Twitter this week that the altcoin could handle the combined transaction volume of both BTC and Ethereum (ETH).

What do you think about Roger Ver’s latest tweets? Let us know in the comments below!


Images courtesy of Twitter/@rogerkver and Pixabay.


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