INTRODUCTION
In whatever form of business — online and offline — you find yourself; security plus privacy can be referred to as the paramount concerns of every user. In the crypto community, this has established itself as a major subject, one that calls for continuous innovation and technological advances. This concern, thanks to its urgency, birthed the VEIL.
The VEIL project began in August, 2018. It went live on the 18th December, 2018.
The VEIL project has been created towards the establishment of rigid security protocols. This is further aided by a research lab: the VEIL LABS. The need for the VEIL project arose because of the constant need for complete anonymity, plus a bid to allow users a higher degree of anonymity when compared side by side to other projects.
Furthermore, the project for Veil was set up to achieve a stabilized and high-performing transactional cryptocurrency. This is also in line of sound, sustainable, tested and trusted economies. Imperatively, this will translate to a smooth user experience.
WHO ARE THE CREATORS?
VEIL was designed and created by respected Blockchain developer, Presstab. The Presstab team consists of highly-regarded developers, one popularly known as random.zebra. Renowned cryptographers such as Mary Maller also worked tirelessly on the project.
DESIGN OF THE VEIL PROJECT
As earlier stated, the Veil Project primarily aims at improving every condition of privacy-focused cryptocurrencies with the introduction of a highly secure, and strictly anonymous coin, which invariably provides privacy all round the clock. Directed at long-term sustainability, the Veil Project, with its army of dedicated researchers and developers is set to change the narrative, the direction of the Blockchain technology forever.
When Veil was first implemented, it made use of what is referred to as the world’s most secure software in Blockchain technology; the Bitcoin version 0. 17. 1. This was complemented with Zerocoin, and RingCT of Particles project. In 2019, vulnerabilities discovered in Zerocoin caused for it to be updated. This update kept the natural functions of the Zerocoin, but evicted its lack of connection to genuine mints.
Veil Project makes use of the Proof-of-Power (PoW) and Proof-of-Stake (PoS) consensus system. The Proof-of-Stake ensures effective decentralisation plus energy reservation. Importantly, it contains a mechanics that allows Veil holders to gain rewards. This is made possible with the help of the staking process. However, staking becomes possible only through Zerocoin, and it can be done in only its denominations. Therefore, Veil balances will auto-mint, so to speak to the denominations of 10, 100, 1000 and 10000.
The Proof-of-Work mining system necessitates judicious coin distribution. It likewise prevents the indispensability of ICO, or pre-eminent. Generally, this also secures the overall network. Fairness in the mining system is ensured through the ASIC-resistant X16RT hashing algorithm.
Veil Explorer:
Specifications About Veil
STAKING VEIL
Throughout the staking process, the Veil network is entirely secured with its Zerocoin's based Proof-of-Stake system. There are simple steps to staking veil:
- Download the original Veil Wallet
- Setup your wallet by following the steps shown in the tutorials.
- Deposit Veil in the new Wallet by using a QR code or sending Veil into the receiving address.
- Tap on the staking widget, and input a password to secure your Veil account.
- Your wallet will mechanically mint your Basecoin Veil and change it into Zerocoin Veil.
How To Buy Veil Coin
You can buy Veil coin from the exchanges listed below.
EARNING WITH VEIL
This is possible through the Veil Bounty Program.
CONCLUSION
Ultimately, Veil values their users over anything else. The ease and seamlessness of the entire process, support of countless experiential gains; these are some of the advantages users are bound to enjoy with Veil.
Team
Roadmap
VEIL USEFUL LINKS
- Website: https://veil-project.com
- Discord: https://discord.veil-project.com
- Facebook: https://www.facebook.com/projectveil/
- Twitter: https://twitter.com/projectveil
- Telegram: https://t.me/VEILProject
- Bitcointalk Forum: https://bitcointalk.org/index.php?topic=5065331.0
- Github: https://github.com/Veil-Project/veil
- Reddit: https://www.reddit.com/r/veil
Author's Details
Bitcointalk username: invbeejay
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1900615