Introduction and Statement Of Problems:
Cryptocurrencies are not as anonymous as we might suspect on the grounds that while these cryptocurrencies has a transparent and open record that can be seen by anyone, this is the very shortcoming it has in light of the fact that anyone can without much of any stress trace your transaction and even view the measure of assets you have and can trace every transaction that you have ever made, join that to the way some major cryptocurrency wallets providers are currently making KYC obligatory for their clients, I think this is a huge move towards connecting identities to wallet addresses.
Fortunately there are some cryptocurrencies that are totally devoted to securing privacy and they are called Privacy Coins. Monero was one of the main privacy coins to take the leap with its creation of RingCT Technology. The journey towards becoming privacy coins is a decent move. It enables the assigned digital asset to secure the identity of the participating entities and mask the transaction from third party interference.
A great deal of projects has risen to be the game changer in privacy. Some failed to accomplish this, while the dominant part couldn't stand the trial of time. Notwithstanding, Veil, an extraordinary project that is different from every single other project. Veil project incorporates in it the best ever security and privacy technology in it platform in order to be the principal cryptocurrency to provide uncompromised security and an always-on privacy.
Presenting the Veil Project:
Veil is a security project created inside the framework of the Zerocoin Protocol. As is known, blockchain projects that implements the Zerocoin Protocol are not the same as the frameworks we know. The fundamental motivation behind Zerocoin innovation is to guarantee that the crypto exchanges are completed in full privacy. Thusly, the sender or recipient isn't known and cannot be traced.
Zerocoin Protocol has implemented security features that are not accessible with other contenders. This will empower the platform to secure debit and credit cards transaction while keeping up a high level of transaction anonymity. This is a circumstance that would profit everyone.
Highlights OF Veil Project:
Multiple Privacy Technologies: There's no uncertainty that the objective of this project is to institute a cryptocurrency that will be more secure than contending cryptocurrencies. Therefore, it uses Zerocoin Protocol, a cryptography-based privacy convention. Additionally, it exploits the most extreme security offered by the Bitcoin v0.17.1 to give ideal security to the platform and the underlying digital resources.
Veil's Hybrid Consensus Mechanism: In Veil's objective to bring revolution and full-scale privacy to cryptocurrency, settled on a hybrid consensus mechanism that Features both Proof-of-Stake (PoS) and the Proof-of-Work (PoW) consensus mechanism. The project aims at providing full-scale security and boosting mining activities on its system. The PoS consensus specifically, triggers a reward mechanism that tips clients with the Veil coin subsequent to staking in the mining pool. On its part, the PoW consensus mechanism utilizes the ASIC-Resistant X16RT hashing algorithm to secure the platform. It additionally guarantees an even appropriation of coins.
Anonymous Passive Income Opportunity: For now, it is conceivable to be getting a passive income from numerous platforms. In any case, the Veil project want to make this one stride further. Clients gets honors in the veil project anonymously. This implies that nobody can know the amount won and when it was won.
Self-Sustaining: The veil project did not require any outsider organization or stock exchange to keep up its existence. Because of the consensus created by the Veil project, clients affirm the accuracy of their blocks and subsequently no outsiders are required. Since the project is totally client situated. Thus, the wallet is easy to use and has a straightforward interface and design that makes it easier for clients to work with.
What Veil Platform Really Offers:
Tech Wise: The innovation that Veil is utilizing is highly sophisticated. All things considered, for a usual blockchain project, one wouldn't screw for a non ICO project but due to the present day advancements, I would say that Veil has something ahead of time than eth and btc.
Uniqueness: I have never heard of any blockchain project that utilizes both POW and POS to utilized twofold income stream (mining and staking). Additionally fascinating is, the seed for both the Zerocoin wallet and Basecoin wallet will be equivalent, expecting clients to just reinforcement a solitary seed which is completely verified. This demonstrates how Veil difference to numerous other Zerocoin-based coins that either have a seperate reinforcement seed for their Zerocoins, or none by any means.
Transparency: I can say that they have it with the github open source activities been broadcasted and can be seen whether there is new update. This provides further security for the investors who will pick interest in the project.
Smoothness: Based on transaction records, Veil has one of the fastest confirmations despite the fact that further improvements are required. Anyway, the project is just still very young.
Liquidity: This project has been listed on CMC and several other exchanges. Imagine the project team efforts towards conducting marketing to get listed on these multiple exchanges.
The Project Team:
The Project Roadmap:
In Conclusion:
The upgraded privacy highlights doled out by Veil Technology won't just enable the task to accomplish its objectives, however will likewise turn into a standard for privacy-based coins. An opportunity to verify the eventual fate of cryptocurrencies is currently, and this undertaking has working answers for make it a triumph.
Get Further Information On Veil Below:
Website
Discord
Facebook
Twitter
Telegram
Github
Reddit
bitcointalk Username: mohadrop
bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2362855
Veil Address: bv1qxqw5lf58kjrurdu002xyjcgqenfp5mnpf4hg6r
this project is really making a wave in the crypto space. when is the ICO schedule for
Veil promises better security and privacy as a whole and i really do find the Zerocoin address quite interesting. Does the Basecoin and Zerocoin address perform the same function?
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Of a truth, true anonymity as been achieved by veil.
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