A Small Crypto Coin Is Making Big Claims About a Private Proof-of-Stake
If any coin is going to fly under the radar, it makes sense for a privacy coin to do so.
Spectre (not be confused with a separate project called SPECTRE), created two crypto tokens – the aptly named spectre token and the xspec token – in 2016, but hasn't received much notice from the crypto community so far. Sure enough, its tokens rank in the 500s according to data provider CoinMarketCap, with a total market capitalization of $5.7 million – paltry by many crypto standards. But that might soon change, as the project is taking a growing interest in a technology called staking. A number of alternative proof-of-stake systems have launched recently (EOS, Tezos, Neo, Tron), with varying degrees of success, though all of which have commanded large market caps buoyed by big investors. These systems assign the task of verifying blockchain transactions to a certain number of delegates, representatives of sorts which are voted in by the token holders. While token holders don't necessarily identify themselves, according to Spectre's pseudonymous founder, Mandica, there's a huge privacy problem within these systems.