We live in a modern technologically advanced society. People are constantly striving to improve and simplify their livelihoods using various technologies and devices. Many of us are completely dependent on a single gadget, since it stores all the important information for us, our personal data. After all, information is power. Every day more and more we see on TV or read in various sources that someone has suffered due to leakage of personal data, about how we are being watched and trying to control. But fortunately, today we have the opportunity to protect our data, our privacy thanks to various applications and programs.
Thanks to blockchain technology and cryptocurrencies, people can assume that their data and transaction privacy are protected. There are anonymous and non-anonymous cryptocurrencies. The transactions of the former can be traced in the blockchain, while the latter use different technologies aimed at ensuring complete privacy of financial transactions through cryptographic protocols, which significantly complicate or make it impossible to audit the network data. Today there are many projects aimed at privacy and confidentiality. Among the largest market capitalization of anonymous digital currencies can be identified Monero, Dash and ZCash. However, apart from their technological advantages, these projects have a number of drawbacks. Therefore, there are new projects that are trying to correct the situation.
One of these project is a very ambitious and promising Veil, which intends to try on the crown of leadership among anonymous cryptocurrencies. The Veil project was created to provide users with a secure, anonymous coin that meets all requirements, providing real privacy and the highest level of anonymity. The project also aims to increase transaction speed and stability of the cryptocurrency network.
Veil is a symbios of a Bitcoin core version 0.17.1 and cryptography-based privacy protocol Zerocoin. The Bitcoin core is the most secure and most tested blockchain software. The Zerocoin protocol is based on zero-knowledge proofs, a cryptographic method which allows a computation to be proven to have taken place, without knowledge of its inputs and outputs. In the case of a cryptocurrency, this computation would be a value transaction, in which the sender, receiver and amount transacted can remain anonymous. Veil uses mandatory RingCT + stealth addresses to anonymize the Basecoin layer. When 10 or more Basecoin Veil is deposited to a wallet, it will be autominted into Zerocoin Veil.
The Veil network will use a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus system. The Proof-of-Stake consensus system will guarantee maximum decentralization, energy efficiency and provide a mechanism for all Veil holders to earn rewards in Veil through the process of staking. The Proof-of-Work mining system ensures fair distribution of coins, avoids the need for an ICO or pre-mine and increases the security of the entire network. Veil PoW mining utilizes an improved ASIC-resistant X16RT hashing algorithm. The time of the block is 60 seconds. Now you can use several mining pools.
The team aims to analyze existing developments of the blockchain technology and improve cryptography for the normal functioning of private coins.
Already today you have the opportunity to download desktop versions of the Veil wallet for Windows, Linux and MacOS. Soon the future, the team will release applications for Android and IOS, and integration with Ledger and Trezor.
Veil was launched without ICO and other fundraising campaigns, so the project seeks to provide users with not only the most anonymous and secure coin, but also the most honest, with a high level of trust among users and the crypto community. Veil is listed on several markets. You can be a part of a great project already today.
The Veil project is developing before our eyes and I hope it will be the best project in the field of privacy and anonymity.
