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CloakCoin (CLOAK) for Beginners - Two Minute Tokens

Whats up fellow Crypto-heads and Blockchain enthusiasts! Today’s Two-Minute Token talk will be on one of the OG privacy coins!

CloakCoin (CLOAK)

For this two Minute Token Talk, we'll be taking a look at CloakCoin!

The Must Know Info!

Launch Date: June 2014 (re-vamp in October 2016)
Launch Price: ~$0.18 USD
Current Spot Price: $3.58 USD (July 30, 2018)
Market Rank: 309th (July 30, 2018)
Market Cap: ~20 Million (July 30, 2018)

Some Quick Thoughts

Being a project from the pre-ico era that made it out of the woods, CloakCoin has a special place in my heart (we're a big fan of time-tested and established projects if you can't tell lol). But the biggest thing that keeps me coming back to CLOAK is the unparalleled privacy and anonymity features. As many of you know, ZEC was my first crypto, so privacy coins have always been of interest to me. While Monero may head the pack in Marketcap, the onion routing style stealth transactions on CLOAK's Enigma network quite simply blow other privacy coins out of the water in both anonymity and transaction speed.

Part of that transaction speed is influenced by the fact that CLOAK is also entirely migrated to a proof-of-stake ledger system! This may not seem like a huge deal now, but in the future as Crypto pushes mainstream, I believe there will be a renewed concentration on improving the energy usage of blockchain ledgers and that proof of stake networks will be an integral part of that change.

Anywho, hope you enjoyed this little snippet on CloakCoin, and remember to check back in for our in depth look at CLOAK later this week!

Also, if you have a coin you'd like to learn about, an aspect of a certain project you'd like discussed, or even an entire point of comparison you think we should add to our coin tutorials, let us know in the comments!

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