John McAfee Announces A New Privacy Focused Cryptocurrency

John McAfee lately declared an up-coming launch of a new privacy focused cryptocurrency called GHOST. In the announcement, he divulged the project’s new Twitter account and associated website. He stated that the whitepaper and additional particulars will be posted on 15th May.

Furthermore, the project’s website shows that the POS based privacy token will help shield user’s privacy by making users nothing but a ghost (anonymous) when transacting online.

In the thick of comments on McAfee’s Twitter thread after McAfee’s big launch declaration was that the GHOST technology was suggestive of the 1st automated privacy swap shaped by the NIX platform.

As per the official website, GHOST transactions will use an escrow pool and will be substantiated using zero-knowledge proofs. The coin will utilize a POS (proof-of-stake) network and have quicker operation times and lesser fees, among other benefits. Additionally, the transactions processed on-chain will settle in under a minute and users will merely shell out less than a penny for transaction fees.

The prime question among the crypto community is whether there is a requirement for an extra privacy cryptocurrency or whether prevailing players have already filled a necessity in the market.