John McAfee Reveals He’s Working on New Privacy Coin ‘Ghost’

Eccentric cybersecurity entrepreneur John McAfee has revealed he is working on a new privacy-centric cryptocurrency called Ghost.

The cryptocurrency, according to McAfee, will have a proof-of-stake (PoS) consensus algorithm and will be supported on his decentralized cryptocurrency exchange McAfeeDex. McAfee further claimed the decentralized exchange will support atomic swaps between Ghost and major cryptocurrencies like bitcoin (BTC), bitcoin cash (BCH), and ether (ETH).

A website on the project appears to show Ghost transactions will be verified using zero-knowledge proofs, which allow users to verify transactions on a blockchain without knowing who’s behind them. It also claims Ghost’s transactions “are processed on chain in under 60 seconds with just a fraction of a penny paid in transaction fees.”

The website further reveals that the Ghost network will be supported by a network of masternodes, which will “earn a share of the transaction fees using the staking and masternode features for Ghost.” Notably, Ghost tokens will be allocated to “ESH token holders.” The ESH token, according to the references given on the website, appears to be highly illiquid.