Digitization is becoming the order of the day, as a lot of sectors, industries and even individuals, are rapidly adopting this great system. This is because a lot of improved and sophisticated technologies are constantly being developed.
The benefits and importance of digitization are being recognized and acknowledged globally, thus proving to be more competent, productive, efficient and reliable in solving our day-to-day problems and challenges.
With the growing rate of digitization, a currency which would be used for exchange was needed, so as overcome the flaws of the normal world currency such as theft, depreciation etc. This led to the creation of digital cash called crypto-currency.
Crypto-currency serves as a digital exchange means of money that is secured from political influence.
Money that promises to preserve and increase its value over time. Crypto-currency is also a comfortable means of payment with worldwide scope and they are private and efficient enough to serve as a means of payment for businesses and any other economic activity.
Crypto-currency gave birth to an incredibly dynamic fast-growing market for investors and spectators.
Their daily trade volume exceeds that of a major European stock exchange.
But one of the factors affecting the usage of the digital cash is privacy.
From its inception, this has been the cause of the preferences of fiat currency over crypto-currency, a transaction can be made by cash and still remain private, but not with the digital cash (crypto-currency).
Unlike the fiat currency (Physical cash) transactions made digitally with crypto-currency are open to the public, as long as someone with the technical knowledge and internet connection can gain access to transactions details you made and all other information which was supposed to be kept private.
No doubt, this has become a very disturbing issue in the digital world, which is holding the users back, from involving or participating, thus creating fear in the mind of the users and the world at large.
As a result, the users and the world at large are denied of all the benefit and advantages accrued to the digital world.
As I said earlier, the world is advancing at a fast rate and so solutions are also being made to tackle/combat this problem of privacy using the crypto-currency. One of the greatest solutions provided is the creation of a great platform.
VEIL PROVIDING THE BEST CRYPTO-CURRENCY EXPERIENCE
Veil is a platform created to make use of a blockchain based system to tackle problems affecting the privacy of crypto-currency transactions. Its main aim is, ensuring that every digital transactions and information made are kept private.
Veil came as an acknowledgement of the need to provide total and complex security for digital transactions.
In order to conceal the amount involved in the transactions, Veil utilizes a wide range proof system.
In order to achieve this, veil will make use of all emerging and sophisticated technologies, blockchain system and approach such as Stealth address, Zerocoin, Ring CT etc to veil or hide digital transactions and it's detailing.
Veil makes use of Zerocoin which helps conceal the sender in a transaction through joining the sender's transactions details with other randomly picked digital handprints, so as to camouflage the sender's details and signature.
With Zerocoin, Ring CT etc, the transaction process involved would be kept a secret, anonymous and untraceable.
IN CONCLUSION
Using veil, the risk involved in using or doing business transactions with crypto-currency is reduced, thereby encouraging users and the world at large to participate in the digital world and make good use of the digital cash (crypto-currency).
This would help make digitization of the world fast, safe, reliable and efficient, thus restoring privacy to the users of crypto-currency and the world at large.
Links To Follow
Website
GitHub
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BlockFolio
Wallet Download
VEIL Newsletter
How to mine
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| Author | Chijioke |
|---|---|
| Bitcointalk Profile Link | https://bitcointalk.org/index.php?action=profile;u=2563026 |
| Bitcointalk Username | Cjblog |
| Veil wallet address | bv1qglmy5x4rwr0a4vlkyq9hrpda4s99uex7zwhtnu |