Everyone involved in the crypto money circles first learns how they provide a free environment. Elements such as anonymity, speed, irrevocability (!) Attract attention first and the person finds himself in an incredibly different economic environment. This is the first period in which people are generally covered with superficial information.

Then, it is discovered that almost all types of crypto assets, especially Bitcoin, are far from true anonymity. Of course, for this to happen, one must be open to learning. Otherwise, without dealing with the technical part of the business, you cannot just come to this point.

This is where we come across a protocol that will satisfy people who want privacy from crypto assets: Zerocoin.

Zerocoin is not very different from Bitcoin. The difference is that the records that are made while sending and receiving are eliminated with the help of minting. That is, the procedure is essentially the same as that of Bitcoin. However, when sending Bitcoin, the public ledger section where the transmission is processed is destroyed by minting the Zcoins to Zerocoin. Thus, total anonymity is ensured.

Why did I tell you about the Zerocoin protocol? Because the Veil project, which is the subject of the article, is a project based on Zerocoin protocol.

What makes Veil different when there is already a product like Zcoin? Now let's talk about this point.

Veil's Differences

In fact, for the Veil project, it would not be wrong to say that it is a combination that brings together the most advanced crypto software in the world to provide the most advanced privacy. Bitcoin 0.17.1 version, which is the most reliable blockchain software available, is combined with Zerocoin protocol and the result is reinforced with RingCT technology.

• The code base of the Veil project is Bitcoin, which has proven its reliability for ten years. Bitcoin development means the development of the project in parallel.

• Zerocoin is an upgraded version of a project, that is Monero, the ancestor of privacy-based coins. It is unclear in what circumstances the privacy of Monero would dissolve. Zerocoin provides an alternative solution for this equivocacy.

• Although it provides full privacy, Zerocoin also has a problem of its own. The problem is that all submissions are not anonymous, only anonymity occurs in certain transmissions. The solution to this problem is improved RingCT technology.

• Zerocoin has also another positive side called zero-knowledge proof. In short, the zero-knowledge proof is a calculation of without knowing input and output. I guess it was pretty clear by the definition.

• With the help of Dandelion protocol, the transaction in the network is almost completely impossible to trace, while the Bulletproof technology ensures that the smallest transaction is ensured.

Final Words

It is easy to argue that it is a privacy coin. The technical details on the paper may indicate this. But there are also facts. Do you think that the team of the Veil project brought together many different technologies because they wanted it? The answer is of course not. The reason they do so is that they should want to put in a confidentiality coin that will provide complete privacy. Not at random times. Anytime and seamless privacy. When you see the effectiveness and helpfulness of his team, you will also understand how deep the project is. Thank you for taking the time and reading.