A phasing cloak uses subspace fields to put a vessel out of phase with normal time by nanoseconds, just beyond the detectable threshold for those in normal space but not enough so that those cloaked are unable to perceive those in normal space. Since the vessel is then out of phase with normal spacetime (and thus normal matter) it can pass through normal matter.
Limitations
- Sensors are limited
- Weapons are ineffectual
Dangers
A ship that is out of phase could potentially get stuck in that state if the technology used to maintain the vessel malfunctions. Or worse, the vessel could come out of phase unexpectedly inside solid matter.