Privacy! Privacy!! It's funny how we use this word but yet not being secured or assured that our data or transactions online are safe or private. Now we have browsers which track our browsing ads, we perform transactions online while leaving digital footprints everywhere. Thus, with all these can we really be confident to use that word "Privacy"? I don't think so.
But ever since the advent of blockchain technology, there have been many amazing innovations like decentralization which makes sure that in every blockchain settings, data is secured. Another is the use of smart contracts, time-stamping etc; in fact, one won't be mistaken for saying that blockchain technology is the next big thing.
With the advent of blockchain technology ushered in by Bitcoin, it paved way for many outstanding projects; it was in this process that a team realized the need for a privacy coin thus the creation of Monero, which is termed the original privacy coin. As it is in the world today, most times one can tend to be anonymous in everything he/she does, thus another team believes there is a need for an anonymity coin which leads to the creation of Zcoins.
From this one can see that, Monero and Zcoin only offer privacy and anonymity respectively while none offers both.
It is worthy to know that within the crypto space, blockchain has really empowered many developers thus owing to this empowerment, a team of experts believes it is necessary to offer both privacy and anonymity to users, thus the creation of VEIL.
To clearly understand what Veil tends to achieve, let's have a look at the limitations on Monero and other privacy coins.
Monero being the original privacy coin uses a technology known as RingCT to provide full-time privacy, while sacrificing to an extent anonymity in transactions. On the other hand, coins like Zcoin uses Zerocoin protocol owing to its advanced cryptographic capabilities to offer anonymity in transactions with the drawback being not all transactions (Less than 1%) are private, which tends to expose users.
Thus, with the study carried out by Veil team, they found out that the underlying problems with Monero and Zcoin are that their drawbacks are the total dependence on external experts, professionals and software developers to enhance their networks.
PRIVACY AND ANONYMITY, VEIL OFFERS IT ALL
Veil tends to stand out owing to the way it was created, it's team skills, experiences and so on.
With that in mind, the Veil team believes that indeed they have what it takes to offer both privacy and anonymity in transactions, thus leveraging cutting edge technologies to set the path in the field of anonymity and privacy-focused cryptocurrencies which are achieved by creating a secure, highly anonymous coin that provides full-time privacy as well as anonymity. In addition, owing to its team of experts in the research and development section of the platform, the Veil will offer a user experience which will be good for the masses.
Amazing Nature Of Veil Project
Since privacy matters as well as anonymity, Veil project was created to use both the world's most secure blockchain software (Bitcoin version 0.17.1) as well as the Zerocoin and Particl project's RingCT owing to this advanced cryptography-based privacy protocol.
The reason for the utilization of these two technologies is that Bitcoin version 0.17.1 has proven to be the best in battle-tested blockchain while RingCT privacy from Particl all to its Basecoin transactions will always provide unrelenting privacy at all times, thus users can be sure of privacy and anonymity at every point in time.
Veil will also, support protocols like Dandelion to ensure no transaction is traced and Bulletproofs technology to ensure fewer transactions sizes.
Furthermore, Veil utilized Zerocoin protocol at the onset to ensure transacting parties remain anonymous, but recently it was found out that Zerocoin protocol has some limitations, thus the team is on the verge of checking for more better alternatives.
CONCLUSION
Every platform both in the crypto space and the world at large can only grow when the right team is in charge; this is the case of Veil.
Veil team understood the challenge in the crypto space thus sets in to change the status quo by turning around drawbacks in other platforms.
Furthermore, to ensure the platform keeps growing, the Veil project created a Lab which will be an entity on its own with the necessary tools and support to help it grow while offering technical results in the world of privacy and anonymity coins.
N/B: Be guided, Veil is already on CoinMarketCap.
CoinMarketCap: https://coinmarketcap.com/currencies/veil/
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USEFUL LINKS
VEIL website: https://veil-project.com/
VEIL Newsletter: https://mailchi.mp/protonmail/veil-news
Github: https://github.com/Veil-Project/
How to mine: https://veil-project.com/mining/
Discord: https://discord.veil-project.com/
Facebook: https://www.facebook.com/projectveil/
Linkedin: https://www.linkedin.com/company/project-veil/
Medium: https://medium.com/veil-project
Twitter: https://twitter.com/projectveil
Youtube: https://www.youtube.com/channel/UC6aR5jj9rxxRcf-Y11I5bHQ
Wallet Download: https://www.veil-project.com/get-started/
Authors Details;
Veil Receiving Address: bv1qas8zd93knhzjhkttf0vhq6tawsxy7sfrjgk8wv
Author's Bitcointalk Username: Flezy
Author's Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2187485
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