Quote from: alice_bob on January 03, 2017, 12:52:28 PM

PoS is there since several years and i dont know a problem with it.

I want to help you all to understand CLOAK tech:

Why is CLOAKCOIN cool?
Our target is to serve a fast, fully private, secure, untraceable and user friendly transaction system that provides fungabilty (all coins being equal and interchangeable) and functions 100% decentralized on low-cost consumer hardware with very little energy consumption. You will soon be able to run a Cloakcoin node on a Raspberry Pi at home - silent and low priced. Our wallets should be as easy to install and to run as possible!

How does it work?
We use proof of stake (PoS) for consensus, which means existing coins held by users are used to help secure the Cloak network. This negates the need for expensive mining hardware associated with proof of work (PoW) mining. Cloak uses no masternodes, custom blockchain formats or sub-blockchains. Cloak wallets/nodes connect to each other and CLOAKSHIELD enables them to build up private onion routing network like TOR (minimum 3 hops) and on this VPN the wallets find participients to create and send ENIGMA transactions. ENIGMA produces transactions that are 'cloaked' by other users. This means that as well as the ENIGMA sender adding their funds to the ENIGMA transaction, cloakers also provide matching amounts, which they receive back alongside a reward for helping to cloak the send. This means that anyone examing the transaction cannot determine who is sending or recieving funds. Here is an ENIGMA transaction: http://explorer.cloakcoin.com/tx/a138e4ccf432d890709fa8a1e7844d11450a33808021fec55df68dd366c0be15

ENIGMA works similar to the scenario where many people put 10 $ into a pot and many other people take 10 $ from the pot. Who got which 10 $?

And the onion routing called CLOAKSHIELD adds this:
Not you put your 10 $ into the pot, you gave an envelope to a person, this person open the envelop and put out a new envelope and forward it to the addressed person, this person do the same (according to the number of used hops) and the last person puts the money into the pot for you.

If you let your wallet open you will earn an interest of 6% p.a. for PoS minting, if you help procession transactions with ENIGMA you earn coins too and your coins get also swapped in this process! So your coins can get swapped many times before you spent them... and if you spent them, the target address will receive other coins, not yours!

Good explanation and very good transaction alice_bob Tongue