Hey Readers, Welcome to another great edition of Privacy on Blockchain Technology courtesy Veil Project. I am still your favorite blogger Modanalee.
On this edition of Veil's privacy, I shall be talking about why privacy on blockchain technology has become a great necessity to us, and what can be done to ensure utmost security and privacy on blockchain technology.
Sit back and read on, I promise that it's going to be helpful for you and an added knowledge.
The advent of blockchain technology has brought a lot to play in the crypto space. It has to a great deal revolutionized every sphere of life ranging from the banking and financial sectors to the aviation sector etc. These blockchain advancements has touched every sector. Regardless of anything. All thanks to the brilliant idea behind the technology.
The evolution of crypto currency was brought by blockchain technology. And ever since the inception of this currency, from the fore most crypto currency "Bitcoin" to other alternative coins also known as "altcoins". We have witnessed a huge paradigm and increase in the space. But this is not without some obstacles and problems eating deep the root of the indomitable technology. The problem of "Security" and "Privacy".
The lack of these security and privacy has posed a big blow and threat to the space oweing to the fact that investors investments and funds becomes the objects of attack to hackers and cyber criminals. Here is where we record the failure of the almighty Bitcoin. It's was created to make transactions feasible, easy and faster. Yes, to some extent it was successful. But however failed to achieve the problem of privacy which looms about the space. Often time, we hear about the news of hacks and thefts happening on the space, wallets being hacked and funds disappear. Exchanges hacked and investors funds gone. To these problems lie a urgent need for measures to curb and bring about utmost privacy and security on the space. We are now in the era where we seem privacy as
a great necessity to the crypto space.
There comes the inception of Privacy coins. The very first privacy coin to exist is Monero, ZEC, Dash etc. Monero is a privacy coin which is built on the core values of privacy technologies known as Zerocoin. To some extent, Monero achieved its purpose. But some loopholes still remain. A more provoking privacy coins becomes highly sorted for.
This led to the inception of Veil coin.
WHAT IS VEIL COIN/PROJECT
Veil project is the offspring of Veil team and it's Veil Lab. It was built to provide a 100% privacy without compromise. Veil is concerned about Security and Privacy on blockchain. Hence, combines great privacy technologies such as Zerocoin and RingCt protocols and Bitcoin's Dandelion protocol to its operations.
CORE SYSTEMS MAKING UP VEIL PROJECT
Veil is not designed in isolation. It is made up of different strong privacy technologies. Combining these frameworks make Veil become a highly advanced and sorted Privacy coin. These systems are:
- Zerocoin Protocol: The Zerocoin protocol aims at making transactions secured and untraceable and anonymous. In such a way that transactions made are not made open on the ledger. With this, it will be difficult to record hacks and thefts on the chain.
- Veil Wallet: Another intriguing system that makes up the Veil network is the Veil wallet. This is an integral part for Mining and also staking. With Veil wallet, users can carry out a couple of things such as:
I. Staking - Mining
- Storing
- Sending of Coins
- Receiving of coins etc.
- Bitcoin's Core of 0.17.1: Another incredible system making up Veil network is the Bitcoin's dandelion protocol of 0.17.1 software. This is an advanced security software on the space.
- Consensus Algorithms: Of POW and POS: The mining and staking abilities of Veil coin also known as PoS and PoW is another glaring system on the Veil network.
The ideologies and systems of Veil framework abounds. I know and I believe in Veil project. Sooner than later, privacy issue on blockchain would become a thing of the past while Veil project will continue to offer new opportunities for us. Above all, Veil coin is tradeable in several exchanges:
- Vinex: https://vinex.network/
- Citex: https://www.citex.co.kr/
- Stex: https://www.stex.com/
- ChainRift: https://www.chainrift.com/trading?coinpair=VEIL/BTC& etc. These are exchanges with large volumes. You can purchase your Veil coin on any of the exchanges.
For more information about Veil, check:
Website: https://veil-project.com/
Reddit: https://www.reddit.com/r/veil
ANN Thread: https://bitcointalk.org/index.php?topic=5065331.0
Telegram: https://t.me/VEILProject
Discord: https://discord.veil-project.com/
Linkedln: https://www.linkedin.com/company/project-veil/
AUTHOR'S DETAILS
Bitcointalk Username: Modanalee
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2491710;sa=summary
Veil coin wallet: bv1qtu27ytwkr0du75rq443g5g0p5a4t58esgvdu6j