Another privacy coin in the mix, Cloak - any opinions

[dashman2]

I see cloakcoin is nearing Open Source according to news release
Do people think this will affect dash?
It has removed the master nodes & gone with Proof of Stake.

cryptocoinsnews.com/sleeping-giant-crypto-space/

Been an avid fan of Dash for a long time, but maybe a competitor - 1 cloak node, instead of 1000 dash.

 

[GrandMasterDash]

It's PoS and I'm not a big fan of PoS on it's own. The best explanation I heard of PoS / PoW is that PoS secures now whereas PoW secures the past. There are some modifications of PoS I like, such as delegated / Proof of Importance and so on. The problem with a lot of the smaller coins is, they have some good ideas but what we're really waiting for is the gelling of those ideas into one super coin.

 

[Super8]

It's PoS and I'm not a big fan of PoS on it's own. The best explanation I heard of PoS / PoW is that PoS secures now whereas PoW secures the past. There are some modifications of PoS I like, such as delegated / Proof of Importance and so on. The problem with a lot of the smaller coins is, they have some good ideas but what we're really waiting for is the gelling of those ideas into one super coin.

Do you mean like what Etherium have in their road map of one day going to POS?

 

[GrandMasterDash]

Do you mean like what Etherium have in their road map of one day going to POS?

I don't know what type of PoS they intend to implement. I only know they are switching to PoS to increase transactions throughput. But then again, Ethereum wasn't intended for large store of value so maybe that has something to do with it.

 

[dashman2]

Thanks for the replies.
Cloak appears to be going parabolic at present - the market seems to like it.
Will it find its niche market? We shall soon see... many claiming it is better (faster etc, more anonymous than Monero & Dash)

 

[bitcoinminerseu]

Won't affect anything at all, wait and see.