The privacy focused Ghost coin backed by famous crypto personality and security researcher John McAfee will go live on May 25. The consensus algorithm is Proof of Stake (POS) and the project supports masternodes. It will be powered by zero knowledge proofs and use 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.
The whitepaper for GHOST is live! To claim your GHOST at launch, you must hold $ESH token on May 25th during the snap shot. Token swap instructions, roadmap, and more coming May 24th!https://t.co/cApgNt56oZ
. pic.twitter.com/B6mYqKoC6W— John McAfee (@officialmcafee) May 16, 2020
Ghost Coin Mission And Technology
The released whitepaper notes that privacy is an important right and its vital to preserve it. It defines the mission as “provide users entirely private, secure, affordable and reliable means to transact over the network”. Ghost coin is being pioneered as an amalgamation of 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.
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