Veil (importance of privacy) Part-2
James Burden, a founder of the Veil project, is also the founder of PIVX coin. The founder said, ‘' we have learned at various stages when producing PIVX coin.’' Means that the Veil was created with the eye and experience of a team with experience. The important thing here is to connect the anonymous spirit of blockchain technology with the privacy of personal data in a lovely way. To prevent one of the two essential cases from becoming dominant. Privacy of individual data should be lived together with transparency and anonymity. Because both of these two issues are as important as the other.
It is annoying that the balances in our wallets are taken into consideration, and the values and data we transfer can be seen. The fact that others view our data can easily make us a target. We are very likely to suffer from this situation. Veil analyzed this situation and brought a solution.
What is the solution of the Veil?
Privacy is an important issue, and a variety of protocols have been initiated since 2013. As evidence of zero information, Zerocoin has been protocolized to provide optional anonymity to the bitcoin network in 2013.
Zerocoin is an encryption method based on zero evidence of information without input-output records of personal data and transfers. So, what kind of process is this? How will this privacy be ensured? It is possible to ask. The operation will be as follows: There are two wallets available in the Zerocoin token. One of them is Zerocoin, and the other is Basecoin. Suppose you received a 118 and AIL symbol. One of them is stored in a hundred anonymity box, one in a ten anonymity box with Zerocoin. The remaining 8 Basecoin's are stored in your wallet. 10 Basecoin's will burn as each 10 Basecoin's become Zerocoins. The information belonging to the burning markers is personal and will be stored with unique encryption. You'il have a private key to access your vault.
So why can't these data transfers be tracked?
At this point, RingCT is engaged. RingCT creates an anonymous signature by combining the sender's digital name with random trademarks of past transactions. The lockbox will provide proof that the purchase belongs to you. Hide the IP number of the sourcing process, and the Dandelion protocol will be activated.
By installing RingCT into the anonymous cloaking procedures of Veil Zerocoin, it made it impossible to trace Basecoin. Besides the Dandelion protocol, it also aims to increase scaling with Bulletproofs. At the same time, the project using the same crypto base as Bitcoin 0.17.1 is very safe.
When you download the Veil wallet and receive the Basecoin address and Zerocoin address, it means you have an intuitive, user-friendly portfolio. As long as you keep your wallet unlocked, you will be able to access your passive income source via POS. Veil encourages not only POS but also PoW mining. The project is listed on the following exchanges.
VINEXNetwork
TXBIT.io
Bisq
Graviex
ChainRift
Zolex
STEX
BitMesh
Reflextrader
CITEX
He will use the ASIC x16tr hybrid algorithm, the advanced version of x16r, introduced by Revacino project to ensure fair use of mining. Since the project does not require ICO, it was possible to reach the project from the contact addresses and buy the confidential coin.
Team
Useful Links
Website: https://veil-project.com
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5065331.0
Telegram: https://t.me/VEILProject
Discord: https://discord.veil-project.com
Twitter: https://twitter.com/projectveil
Facebook: https://www.facebook.com/projectveil
Reddit: https://www.reddit.com/r/Veil
Github: https://github.com/Veil-Project/veil
LinkedIn: https://www.linkedin.com/company/project-veil
Author Ali Olgun
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1876805
Veil Wallet : bv1qqvpkays3l5ktyeefd5eqjpfhpfrxly3cfd3l60
