There’s certainly no shortage of privacy coins floating around. The privacy trend that unfolded throughout 2017 has led to a surplus of coins promising lots yet delivering little.
Seemingly going against the trend is Bulwark (BWK)
In a nutshell, Bulwark is a coin from the PIVX/DASH bloodline seeking to deliver a solid and reliable privacy coin above all else.
“We offer a simple value proposition with no grandiose promise: we will deliver a privacy coin that works today and into the future by leveraging best-practices from both DASH and PIVX. No fanciful visions with a limited prospect of delivery, but a working coin on a working platform with support into the future.” – BWK Whitepaper
NO ICO,
First up, no ICO out of the gate, that’s a big tick in my books, it demonstrates the team isn’t interested in hype, instead they want their product to speak for itself.
Masternodes
At the backbone of the network are masternodes which provide stability to the network and added network functions such as obfuscation (added anonymity via node mixing) and SwiftTX (faster transactions through node consensus). As a reward for providing these services, masternodes receive a % of block rewards. These nodes can be operate on the TOR network for added security.
SeeSaw Proof-of-Stake
The developers have opted to implement a seesaw proof-of-stake reward mechanism popularised by PIVX. By smoothly adjusting the ratio of rewards between staking and node operators, the team aims at to avoid well known problems like high volatility and low liquidity that occurs as a result of too many coins being locked into masternodes.
Future
There’s no hyped and overmarketed tricks here, but the team does appear to have a plan for developing additional protocols and added functionality like:
• I2P privacy network
• Zerocoin protocol or Stealth addressing (When we are confident in the maturity of the solution)
• Streamlining/Updating Wallet
• Libtox Integration
• Virtualization/containerization of the Bulwark wallet to add an extra layer of security
• Self-contained home bulwark nodes that provide TOR and VPN services.
Token Metrics
No ICO
Market Cap: $5,601,234 USD
Circulating Supply: 1,265,349 BWK
Max Supply: 27,000,000 BWK
Summary
I like this project. A dedicated team with community support, a clear and simple vision, a no-nonsense approach to fairness in its processes and governance, a low market capitalisation under $6 million, topped off by a low token supply. Currently, the highest volume exchange trading BWK is Cryptopia, so certainly room for further growth through inclusion into to more popular exchanges. There’s a lot to like in this project. DYOR and decide whether BWK is worth your time.
Happy whale spotting.