What is Conceal Network (CCX)?
“Conceal Network (CCX) is a decentralized blockchain bank, with deposits and investments paying interest rates, without the involvement of financial institutions, powered by 100% open source code”.
“Conceal Network enables untraceable and anonymous messaging, and a secure way to transfer funds. Using a distributed public ledger, the sender and receiver are kept anonymous”.
It is based on Cryptonote protocol that makes it a privacy coin. No one can trace your funds. You are the only one that controls your private key. All your CCX transactions and messages are anonymous.
Conceal is an open-source and community-driven project.
By their words:
“No one owns Conceal, everyone can take part”.
Mining Algo: PoW CN Fast (based on Masari). There is going to be a fork on 7 March. It is going to be a special algorithm for CCX (Cryptonight Conceal)
Diff: DDA and Zawy’s LWMA 3
Privacy: Ring Signatures – Max Supply: 200M CCX
Deposits: Up to 4.2% interest rate per year
Investments: Up to 12% interest rate per year
Messenger: Encrypted Messages and Self Destructive Messages
Block rewards: starting on 5 CCX and going up to 20 CCX (+0.25/month). Current reward is 7 CCX (March 5)
Premine: 6% of the maximum supply. Premine staked for 5 years. Every quarter there is going to be 400.000 CCX release for expenses.
Conceal uses ring signatures and one-time addresses. As a result, it is truly anonymous.
As it is a decentralized project, it is truly compatible with Nakamato’ s original vision. As there are no third-party, transactions are confirmed by distributed consensus.
Conceal’s transactions can’t be linked between the sender and the recipient. As I said before, it is impossible to trace CCX.
Decentralized Banking – Cold Staking
The main feature of Conceal Network is banking. There are two parts: Deposit and Investment and what is best is, there are no server fees or other operating expenses for doing it. You just have to download a Desktop Wallet, that’s all. It is called “COLD STAKING”. A unique feature of Conceal Network for passive income.
min deposit: 1 CCX
max term: 262,800 blocks ( 365 days x 720 blocks) => 12 months = 1 year
min term: 21,900 blocks( 262,800 blocks / 12 months) =>1 month
rate factor: variable rate
max interest rate: 4.25% per year (max term)
min investment: 50,000 CCX
max term: 5 year (20 quarters)
min term: 3 months (1 quarter)
rate factor: variable rate
max interest rate: 12.5% per year (max term)
As Conceal built-in privacy, it is truly fungible.
“Future scalability initiatives will include a modular sidechain.” Sidechain implementation would be great for adaption.
It is a community driven project and everyone can take part.
Cross-platform supported and user-friendly.
CCX is for CPU and GPU mining. Totally ASIC Resistant.
Dynamic Adaptive Limits
Parameters are adjusted based on the historical data.
Conceal has encrypted messaging feature. With self-destructive messages, you can secure your privacy.
Conceal’s transaction fee is 0.0001 CCX which is very low at the moment.
PRIVACY PROTECTED CRYPTOCURRENCY – Done
CCX is based on the Cryptonote protocol which makes your privacy protected.
CONCEAL CLOUD – Done
Conceal Cloud Wallet is a user-friendly wallet that is what crypto market needs for mass adaption.
BLOCKCHAIN BANKING – Done
With “Cold Staking” feature, coins locked on the blockchain get rewarded with variable interest rates depending on the amount and term of the contract.
ENCRYPTED MESSENGER -Done
Untraceable and self-destructive messages keep your privacy protected. “Future releases will include web and mobile messaging applications” which sounds brilliant.
CONCEAL SMART NODES – On Going
Remote Nodes are important for network expansion, Conceal Network is going to implement a fee model to reward whoever runs them. This is going to a passive income for nodes.
CONCEAL MOBİLE – On Going
An Android Wallet for CCX and there is also a plan for IOS.
CONCEAL REWARDS – On Going
When you shop online, you are going to get CCX as a reward. Another passive income tool.
There are two types of Conceal Wallet for now. Desktop Wallet and Cloud (Online) Wallet.
Conceal Desktop Wallet (GUI)
Setting Up Conceal Desktop Wallet
Firstly, click this link.
In this guide, Conceal Wallet Gui v5.2.3 was the last release. You have to download the latest if there is. Other parts will be the same.
1- Click the highlighted area. (win64)
2- Download the zip-file.
3- Open the zip-file
4- Drag “conceal-setup.exe” file to your desktop
5- Run it
6- Click Create New Wallet
7- Then, it is going to ask you a file name. Type whatever you want ( I will type “CoinBlogger”) and save it to your PC. I prefer saving it on my desktop.
My wallet is ready and synchronized. You can see your address (The one below “Wallet Address” which starts with ccx7).
Now backing up your wallet is essential to reopen it on a different computer. Let’s see how to back up your CCX wallet.
How to Back Up Conceal Desktop Wallet?
In your Conceal Wallet ( You can see above), click “Wallet” section. After that, you will see “Backup”.
When you click “Backup Wallet”, you will see the screen below;
Click “Show Seed” and copy “Your 25 Words Mnemonic Seed”. Paste it to a “Notepad or Word” and save it on your computer. Remember, this 25 Word Mnemonic Seed is only for you. DO NOT share it or lose it. I suggest you to copy it to a USB drive.
Reopening Your Conceal Desktop Wallet
If you want to reopen your Conceal Wallet.
Click “Import Seed”.
It is asking for “Mnemonic Seed” and “Wallet Path”.
For seed part, copy your seed (look above, “Wallet Backup” part.) and paste it.
“Wallet Path” is the name of your wallet. Enter whatever you want.
Now you reopened your wallet. Wait for wallet synchronization. Then, it will be ready to use.
Sending CCX from your Conceal Desktop Wallet
Open your Conceal Wallet and click “Send” button.
Enter the address of the receiver to “ADDRESS” section and enter the amount of payment to “AMOUNT” . If you want to send a message, you can write it to “CRYPTO MESSAGE”. Then click “SEND FUNDS”. That’s all, you send your CCX to the receiver.
Banking CCX (Cold Staking)
Cold Staking (banking) is a simple and effective way of earning passive income. You can easily deposit your CCX from your desktop wallet to earn more CCX. There are plans about banking on Conceal Cloud Wallet too.
From your Conceal wallet, click “Banking”. You will see the screen below.
As I mentioned before, there are two parts of banking. “Deposit” and “Investment”. Minimum CCX required for deposit is 1 CCX and minimum for investment is 50.000 CCX.
As you can see, it is asking for amount and period. Just enter the right amount and period that suit you and click “Create”. Thats all, now you are going to earn CCX passively when your period ends.
Just remember that in the deposit part, the period is not days, it is weeks. In investment parts, it is quarters that it is asking to you.
Conceal Cloud Wallet
Conceal Cloud Wallet is a new release of Conceal Network. It is very easy to use. All you need to do is:
1- Click this link.
2- Sign it up by your e-mail.
3- Open your Conceal Cloud Wallet.
4- Click “Settings” and enable ‘2 Factor Authentication’.
Your Wallet is ready to use.
From the area that I circled with yellow, you can see your Conceal Network wallet address, your transaction history and send CCX to others.
How to Mine CCX?
While searching, I found this guide:
https://medium.com/@Modpool1/mining-how-mine-conceal-network-9e9d10eccd18 for the new algorithm.
If you want to mine in a different pool, change the pool name and the port number.
You can check CCX pools from the link below.
How to buy CCX?
Pros – Cons
- There is a hardworking team behind Conceal Network. They managed to do what they said in the roadmap so far.
- The fastest coin that I used so far. Takes 20-30 seconds to transfer from an exchange to my wallet.
- Cold Staking feature is unique. No need for a hardware investment, no operating expenses.
- Conceal Network is definitely a great oppurtunity for passive income. There are also plans for “Node Rewards and Shopping Rewards” (Check roadmap for them).
- Because of the banking feature, CCX circulating supply is really low which makes it more valuable.
- Very trusted team behind the project. When CCX was traded on Maple Exchange, a hack happened. All funds on the exchange were stolen by a hacker. Conceal team managed to recover all funds and such a bad case (hack) turned something very precious to them. “TRUST”. Additionaly, the community trusts the team as they are always transparent to the community.
- High Github activity.
- As Conceal is a community-driven project, everyone can take part. The team is active on Telegram and Discord, they are answering all the questions about the project which is rare in the crypto market.
- Roadmap looks solid. Mobile Wallet, Smart Nodes, Reward System.
- With Conceal Explorer, you can check the total supply, total banked and circulating supply which makes Conceal Network transparent.
- In some countries, privacy coins are forbidden.
- As CCX circulating supply is really low, it is hard to buy huge amounts.
- CCX price is volatile right now because of the low supply. It can also be volatile because of being in the early stages of the project too.
I am not a financial advisor nor a crypto expert but I strongly suggest you to check this coin. It looks very undervalued right now.
As they bring something totally unique and new to the market, in my opinion, we will see more innovations from Conceal in the future.
Links for Conceal Network
Telegram : https://t.me/concealnetworkusers