Will GHOST's New White Paper Impress the Crowds?
GHOST, the second cryptocurrency created by John McAfee, the founder of McAfee antivirus has re-launched its whitepaper earlier today.
The new whitepaper details in length how GHOST will operate, its how its privacy features function, and the other perks of its blockchain. Regarding it's advanced privacy features, senders can hide a receiver's address, their own address and the amount sent. It makes use of both RingCT and stealth address' to guarantee users privacy.
Many additional features are included in GHOST to give it an edge against better known Monero or Zcash. This include a peer-to-peer anonymous marketplace based off Particl's design, and an encrypted chat. Other functions in development is an encrypted chat to mobile app called "telaghost", a wallet extension for most browsers and a Ghost Cell Phone Service.
The Ghost Cell Phone Service can only guarantee that your identity and location will be private.— John McAfee (@officialmcafee) June 11, 2020
None can guarantee that your communications will be private - don't believe any security vendor.
I am still one of the leading security experts. I know.https://t.co/AXteqm1goS
McAfee vs PIVX
The whitepaper originally launched on the 15th of May, but it got caught up in a a controversy. Developers of lesser-known coin called PIVX accused McAfee of copy pasting their whitepaper which he admitted to. McAfee later claimed it was all an elaborate ruse so he could cover his tracks and release a different whitepaper.
Possibly as a result of the dispute, GHOST have re-released a radically different whitepaper that we've seen today.
The cryptocurrency is still a proof-of-stake, privacy-coin and will operate in a somewhat similar matter as originally planned. GHOST will have a total and limited supply of 55,000,000 and an initial supply of 13,573,415.
More on GHOST
It seems that GHOST's largest competitors will be similar privacy coins Monero (XMR) and Zcash (ZEC). One of the major differences with GHOST is its proof-of-stake (PoS) algorithm. The new whitepaper elaborates that PoS is fairer to the average user as PoW mining tends to become centralized. This is due to ASIC's and large mining farms that have pushed out hobbyists.
For each block minted on the GHOST's blockchain 6 new GHOST tokens will be created with a set reward structure. 3 tokens will be split between masternodes, 2 will go to stakers and 1 will go to future development.
The Mainnet for GHOST is due to launch in less than 2 weeks on June 22nd. After its launch GHOST holders will be able to stake their coins or run a masternode for free GHOST.
We will follow its launch so stay posted.
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Written by Jonathan Ganor
Writer & cryptocurrency aficionado