A computer programmer and one of the Bitcoin prominent supporters, John McAfee, is creating a Monero-like cryptocurrency. In a recent tweet, McAfee disclosed that he is developing a privacy-focused altcoin that will be known as Ghost.
McAfee privacy coin project
John McAfee’s Ghost will be running on a proof-of-stake (PoS) consensus algorithm. The cryptocurrency will also be available on his decentralized digital currency exchange, dubbed McAfeeDex.
The dedicated website for planned privacy coin farther revealed that transactions made with the cryptocurrency would be confirmed through zero-knowledge proofs. This feature will ensure the anonymity of Ghost, as it enables users to establish transfers on a blockchain without the knowledge of people behind it.
Additionally, the website noted the transaction with John McAfee’s Ghost would be processed under one minute via on-chain. It will only require a minimal fee for any transaction.
Meanwhile, the network for the cryptocurrency will be backed by a network of cryptocurrency full nodes, precisely master nodes. It will reportedly earn a portion of the fees for Ghost transactions.
Once John McAfee’s Ghost goes live, the token will be available on McAfee cryptocurrency exchange via atomic swaps. The exchange will also support the pairs of Ghost with popular digital currencies, such as Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH).
John McAfee’s Ghost is not the first
The project is not the first time the Bitcoin supporter is creating a cryptocurrency. In fact, privacy crypto is the third time he will be developing a digital currency with his team.
As of 2019, the computer programmer released an ERC-20 cryptocurrency, which is known as ‘WHACKD’ for short. The crypto seems to be exclusive on McAfee exchange, and it reportedly sees a relatively small transaction.
Per the information provided on the website, the white paper for Ghost cryptocurrency will be released on the 15th of May, this year. Many people speculate it will be among the industry’s top privacy coins.
