Programmer and John McAfee has revealed that he will be working on a new privacy-focused cryptocurrency called Ghost, making the announcement on April 11 via Twitter, saying that it will operate on Proof-of-Stake (PoS) consensus and be available on several exchanges,
McAfee, whose presence in the cryptocurrency world often makes memorable headlines, emphasized the decentralized nature of this venture in a few follow up tweets, saying that the token's availability on a decentralized exchange - referring to his own McAfeeDex - would make it “unable to ever be shut down by governments.”
McAfee, who predicted that Bitcoin would reach $1 million in 2020, also revealed that the whitepaper would be published on May 15.
User reactions have so far largely been skeptical. McAfee has been paid to promote tokens before, and some Twitter users have said that several functional privacy tokens already exist,
The official website for Ghost offers several interesting tidbits about the design of the token. Besides running on PoS, it will feature masternodes like the Dash network and use zero-knowledge proofs. It also states that “transactions are processed on chain in under 60 seconds with just a fraction of a penny paid in transaction fees.”