John McAfee, in the last month, announced that his team is working on the development of a privacy coin. Well, here’s an update to that, the GHOST is ready.
Are you excited for the New Privacy Coin !!
On May 15th, John revealed to the world the status of his latest crypto offering, Ghost, that focuses on individual privacy. He tweeted saying the privacy-focused coin is ready for its world debut. The tweet featured the white paper launch for the upcoming coin.
As per the recent tweet, the privacy-based ghost coins will be live on 25th May. Ghost uses proof of stake network technology, which further amplifies the privacy quotient.
The official website of the John McAfee Ghost cryptocurrency states that the coin has no central company and is purely operated as per community-driven protocols.
Privacy-focused Ghost whitepaper
As per the whitepaper, the coin is powered by zero knowledge proofs and uses an escrow pool to shield/erase the history of transactions.
Initially, 25% of the supply will be distributed to ESH token holders on the launch day, the rest will be generated by staking and running masternodes.
Ghost coin is being pioneered as an amalgamation of the best features of different crypto-assets.
For instance, it uses the distributed ledger technology from Bitcoin, InstantSend and Masternodes from Dash, plus custom zk-SNARKs from Zcash and general staking function.
It also features a dynamically calibrated coin supply, that will operate by burning transaction fees, to adjust supply elastically in response to economic pressure.
There are many traits associated with the John McAfee Ghost cryptocurrency that will help it endear itself to the masses.
Speed is touted as its specialty, and it is claimed that the average time to process transactions is mere 60 seconds. The transaction fee is also stated to be a fraction of the other cryptocurrencies.
How to purchase Ghost coins ?
Users who want to get John McAfee Ghost cryptocurrency have two ways. First is the staking method, and the second is to run a master mode.
Users can also get fee benefits by following the staking method. Moreover, there are no staking limits, which essentially means that users can convert as many dollars into Ghost as they want.
In the master mode method, there’s a minimum participation charge of $20,000. Users can run as many nodes as they want. Meanwhile, the tweet about John McAfee Ghost cryptocurrency is creating quite a buzz in the crypto circles.
Ghost Coin Specifications
Block Size: 2 MB
Block Time: 60 seconds (re-targeting every block)
Coin Emission Rate: 6 GHOST maximum per block
Maximum Coin Supply: 13,573,415 GHOST (May 25, 2020) / 15,087,292 GHOST (June, 2020) / 30,226,069 GHOST (June, 2040)
Total Coin Supply: 55,000,000 GHOST (elastic supply, controlled by burning of transaction fees)
Minimum GHOST Required To Run Masternode: 20,000 GHOST
Accumulator Modulus: RSA-2048