INTRODUCTION
Blockchain technology has adapted our lives very quickly with the spread of the internet. It is obvious that we will use this new technology as often as we use the internet. Every data about our lives began to be stored on the internet. Keep the books we read, personal information, photos, special pictures and videos… Almost everything is being kept in the network storage of the internet.
One of the biggest reasons for this is that it is very practical. If desired, they will be able to reach very quickly, and of course not to take up space. The internet has opened to us the age of productivity and minimalism. The internet’s breakthrough in data storage has been rewritten with Blockchain technology. We now have the opportunity to store not only our data, but also our money and other assets on the internet. But with a single difference, it no longer secures our data, not metal safes, but cryptography.
We no longer need banks or other third party companies. We’re not being exploited by them. We do not hand over the security of our information in their hands. Just as the internet has rebuilt social life, Blockchain technology has rebuilt the concept of money.
The project I’m about to talk about is Veil, and its combining Blockchain technology with cryptography to create a much safer, faster and secured platform for the user.
WHAT MAKES VEIL UNIQUE UNLIKE OTHER PROJECTS
Veil project is revolutionary platform that take privacy into a priority in it's decentralized ecosystem. So this project has well developed technologies that will offer the best security to our crypto ecosystem and to build a platform that will supplement and subdue lack of privacy and anonymity for users in order for them to meet the expected privacy requirements.
Veil as i view it is a security targeted blockchain venture with a basic mission to supply the foremost non-public and straightforward to use digital currency popularly known as cryptocurrency; Veil could also be termed corporal punishment and enhancing altogether thought-about protection conventions, pushing the specialised limits for defense and obscurity.
Compared to several other digital currencies, security is just another during a client's pocketbook, which suggests a shopper will pay during anonymous method, or a increasingly non-public vogue. Accomplishing an analogous dimension of security that money offers, carefully, is concerning impossible, however with the online going concerning as another vehicle for corporal punishment, associate degree aggressive new business focused completely on repetition cash within the advanced house is developing. With associate degree finish goal to stay on the ball, the Veil venture is increase Veil Labs, that is associate degree innovative work substance focused on enhancing and advancing new protection organized advances for digital styles of cash. The initial step was actualizing Bulletproofs into the Zerocoin convention, for distended skillfulness. Protection is needed for a few reasons, particularly in blockchain-based frameworks wherever info is easy and receptive.
HERE IS HOW VEIL COULD SOLVE THOSE CHALLENGES
Veil has a stack which is built to incorporates a mixture of the Zerocoin convention, Dandelion, RingCT, and Bulletproofs. however concerning we tend to quickly jump into see however Veil joins these.
ZEROCOIN PROTOCOL AND RINGCT
Veil rely on non-public digital currency and also similar to alternative Zerocoin targeted activities. Normally, purchasers ought to physically mint their basecoins into zerocoins, on the off probability that they thus decide but with Veil, basecoins are naturally written into Zerocoins over ten basecoin. RingCT anonymizes the basecoins, whereas Zerocoin guarantees the foremost elevated quantity of security for the sender. At the top of the day, whenever a shopper has no but ten basecoins, they're naturally sealed into zerocoins. In Veil, basecoin exchanges are anonymized utilizing RingCT and concealing addresses. At that time utilizing a spread proof the total dead is roofed up. At last, the system doesn't understand the sender or total in associate degree exchange however utilizing a cryptographic key image, excavators will affirm that the trade is substantial and no twofold pay went on. So on a ground analysis, each ten basecoins auto-mints into one Zerocoin cluster, that to the trader is simply ten shroud. This can be the connection Veil has created among RingCT and Zerocoin principle.
Veil has actualised herb into its pocketbook. RingCT associate degreed Zerocoin are splendid techniques for guaranteeing shopper protection once an exchange is communicated, however not from the start of a communicate. Veil tend to enclosed herb that makes the primary scientific discipline address of associate degree exchange onerous to make a decision.
CONCLUSIONS THOUGHTS
Veil may be a security driven digital cash that tries to progress cryptographical innovation. Veil goal is to create a deeply productive and thriving cryptographical cash that features the simplest level of obscurity accessible while not abandoning security or availableness. Veil platform is a platform that will bring revolution to the entire community of digital currencies with the solution of privacy and anonymity in it's operations.
ROADMAP
THE TEAM
I urge You to check the following links for more information on the Veil platform
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
ANN Thread: https://bitcointalk.org/index.php?topic=5065331.0
Linkedln: https://www.linkedin.com/company/project-veil/
Author Information
Bitcointalk Username: sebastianluv
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2459524;sa=summary
Veil Address: bv1qu97pnrx0mee94npl3a2la9pphsyrfc4dkjzrug
