Cloak | TronCloak
- Crypto / Web3
Secure, private and anonymous transactions
Cloak is a privacy-focused solution to enable confidential and secure transactions. It allows users to receive funds without revealing their wallet address with anyone. It uses anonymous addresses to maintain anonymity and privacy for its users. The platform offers a user-friendly interface, making it easy for anyone to use. Cloak's sophisticated privacy features ensure that users can transact with utmost confidence, as their financial information remains completely secure, protected from any potential security threats or breaches
Project Track : Defi ,Privacy
Website : https://troncloak.netlify.app/
Cloak is a decentralized app on the Tron blockchain that allows users to transfer funds using a unique and secure address called a 'stealth or secret address.' This address is anonymous and can only be linked to the intended recipient of the transaction, making it virtually impossible for anyone else to know the identity of the recipient or track their transactions. Cloak uses a one-time public key to generate a new address for each transaction, keeping your financial information private and secure. To use Cloak, you need to generate a unique cloak address, share it with the sender, and retrieve your private key to access the funds. Cloak is a valuable tool for anyone who values privacy and security in their financial transactions.
Lets take an example of Charlotte (receiver) and william (sender) to deeply understand what's happening here:
.Charlotte generates a 'DRM" key and a unique "cloak address" using cryptographic algorithms. The cloak address is used as a public key here.
.William looks up the cloak address and generates a one-time-use eph key. The sender combines his key with the receipent cloak address to generate a unique and anonymous stealth address, which is used to send assets to the first user.
.William then publishes his ephemeral public key on the Tron network, allowing Charlotte to scan it for new keys. Charlotte periodically scans the registry for new keys and uses the "DRM" key to generate stealth addresses associated with her.
.If Charlotte matches assets associated with a stealth address generated using a ephpublic key from the registry, she can compute the spending key or private key for that address and claim the assets. The one-time-use keys used to generate the stealth addresses are discarded to ensure privacy and security.
In summary, Cloak uses cryptographic algorithms and one-time-use keys to create anonymous and secure public addresses for transactions on the blockchain. These addresses can also be associated with domain names through Name Services and can be generated and claimed using ephemeral keys and public key registries.
Step 1 : Generate a unique "cloak address" by clicking the generate button. The "DR)" key generated will serve as your secret key, so be sure to save it in a secure location.
Step 2 : Send the cloak address to the intended sender.
Step 3 : The sender will create an anonymous address from your cloak address and send funds to it using the “transfer” button.
Step 4 : After the funds have been sent, click on “match” or paste your "(DRM)" key to retrieve your private key and access the specific address on which the funds have been sent.
At Cloak, we are always looking to improve our platform and provide our users with the best possible experience. Moving forward, we plan to focus on enhancing the functionality of our app we will be also integrating NFT capabilities and streamlining the user interface to make it more user-friendly and accessible to a wider audience. Our team is dedicated to staying at the forefront of blockchain technology and continuing to innovate in order to provide our users with the most secure and private financial transactions possible also we plan to implement cross-chain support in the near future, allowing our users to seamlessly transfer funds between different blockchains. This will enable our users to take advantage of the unique features and benefits offered by different blockchains, while still enjoying the security and privacy of the Cloak platform. We believe that cross-chain support is the future of blockchain technology and are excited to be at the forefront of this development..
Feel free to ask questions and submit feedback** . .
Maaz (MrX) - Backend design Saad - Front-end