Conceal (CCX) is a secure banking solution in a blockchain network. The platform aims to provide users the convenience of conducting financial transactions anonymously and exchanging on-chain encrypted messages seamlessly. Since privacy is of fundamental value in a banking network, Conceal is dedicated to enhancing anonymous interaction in a decentralized finance (DeFi) space. The community-driven network intends to make blockchain banking accessible to all users globally, irrespective of one's economic status.
As the website describes, Conceal functions as a private and secure digital finance system that mimics the properties of physical currency. Conceal network ensures that none of the transactions, messages, and deposits conducted on the network are traceable and prone to tampering. The network features an end-to-end secure messaging service with an additional advantage of self-destructing messages. Conceal seeks to introduce a similar message application on mobile and the web. The network implements public ledger technology and strong cryptographic protocols to ensure hack-proof cryptocurrency transactions and optimum privacy for on-chain banking.
Conceal network uses CCX as the native token of the platform. Deposits function as the cornerstone of the Conceal network; hence, the network encourages users to put in funds in the system using the CCX tokens. Conceal also encourages users to cold stake CCX tokens in the network and win high yields. Unlike staking, cold staking refers to the process of holding CCX in encrypted offline wallets. Since the network seeks to uphold maximum privacy protection, cold staking stands out as a secured feature. For example, cold staking refrains users from tying up funds on hardware setups, rules out offline penalties, demands no maintenance etc. Users may keep earning rewards while cold staking tokens in the offline wallet. The network allows users to decide the duration of the staking period and the amount of CCX tokens to be put in. Conceal aims to reward users for mining CCX tokens using computers and graphic processing units.
The Conceal token or CCX empowers community members to vote and participate in the maintenance and development of the network. Conceal uses WCCX or “Wrapped Conceal,” an ERC20 token representing CCX on multiple blockchains like Ethereum (ETH), Polygon, and the Binance Smart Chain (BSC).
