Cryptocurrency

Everything you need to know about McAfee’s GHOST Coin

Having established itself as a globally acclaimed device-to-cloud cybersecurity firm, McAfee is now aiming to revolutionize the cryptocurrency arena with the launch of its native coin branded under the name of, GHOST. Unveiled as a privacy coin, GHOST employs the excellence of the proof-of-stake mechanism, which makes it a strong competitor in the market. The network is controlled by the GHOST token holders and the users as it follows a thorough decentralized system that does not involve a central party control. The platform uses a robust escrow pool to hide and remove the history of transactions, which makes it satisfy the pre-requisites of a privacy coin. The transactions are verified using zero-knowledge proofs.

For all those who participate actively in securing the GHOST network are given a golden chance to get a share in the transaction fees by going for staking and by using masternode features for GHOST. The network is capable of processing transactions on-chain in less than 60 seconds and that too for a negligible transaction fee charge.

In a series of posts released on the official Twitter handle of Switch today, it was announced that ghostbymcafee.com is live, and soon the team will release detailed information about the vision paper, roadmap for 2020, and staking calculator pedagogy. According to the reports, the investors holding Switch (ESH) token on May 25, 2020, at 8 PM CST shall be allowed to claim GHOST coin for free on the launch day. The platform has urged its users to hold the ESH coins in their wallets or a crypto exchange supporting the airdrop at the time of the snapshot.

A fair allocation shall be made in which 25% of the GHOST coins will be disbursed amongst the ESH holders while the remaining volume will be reserved for proof of stake rewards. The interested users can purchase ESH tokens on IDEX, Mercatox, and McAfeeDex.

The details of the GHOST airdrop distribution which is slated to kickstart in the next 15 hours on May 26, 2020, are given below, have a look:

  • $ESH token holders – 1 ESH = 1 GHOST
  • $DESH token holders – 1 DESH = 250 GHOST
  • $SDEX token holders – 1 SDEX = 1250 GHOST

The users shall be allowed to trade in their GHOST ERC20 for GHOST mainnet tokens on June 22, 2020, after the mainnet launch.

The exchanges supporting airdrop include Bitcoin.com, HitBTC, and STEX.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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