Blockchain is virtually “moving out of shell" to become a force to reckon within the world financial business. Aside from facilitating trades and continuous proliferation of digital assets, these exchanges additionally offer a medium for users to generate income where the bulls are in dominance.
I am happy to introduce an enigma within the crypto-sphere in the form of a cryptocurrency privacy known as, “veil”. Before the conceptualization of this project, there are similar platforms that didn't live up to expectations. It’s in lightweight of this that Veil aims at conveyance revolution to the normal use cases of cryptocurrency exchanges.
THE CRYPTOCURRENCY CHALLENGES
It’s a public knowledge that before the origin of any project within the crypto-sphere, there should be a problem that wants solutions most importantly in privacy. Veil is virtually an “answered prayer” to the numerous problems that limit the success of most cryptocurrency platforms.
ABOUT VEIL
While several cryptocurrencies make claims but literally not doing something differently to the growth other crypto as promised, the Veil platform seems to use a definite actionable game plan to salvage the privacy scenario within the cryptocurrency world.
While most of the cryptocurrency platforms depend upon older versions of the blockchain package, the Veil platform uses one in all the foremost advanced forms – Bitcoin version 1.0.2.1. This ensures the safety of the assets of users that makes use of the platform. while this bitcoin version isn’t specifically new, it’s has been confirmed to be the foremost resilient of the numerous versions existing.
One of the strengths of the Veil platform is its use of the Zerocoin protocol. This protocol uses cryptography to make sure the confirmation of transactions while not giving any precise route relating to the arrival at such a destination. Apparently, the method of a group action is shrouded in mystery due to this protocol.
The use of the Dandelion protocol enhances the privacy protection of the Veil platform. exploiting the recently updated Dandelion++ protocol, transactions on the blockchain are measure securely from identification employing a privacy graph. The supply node liable for the causing of the cryptocurrency isn't disclosed. (Privacy)
To ensure privacy protection isn't ending and doesn’t stutter intermittently, the Veil platform incorporates the RingCT. whereas technology may be changing, the Veil platform intends to stay up. The RingCT may appear over enough, however the platform encompasses a dedicated analysis development team to make sure progress is secured.
Another landmark attribute of the Veil platform is its recognition of the impact of users and satisfying their effort. By staking, users are granted the chance of obtaining rewarded for his or her participation. To avoid losing the privacy enjoyed by users, zerocoin denomination is brought into the combo.
Another incredible features of veil is its intertwining of the favorable attributes of the proof-of-work and proof-of-stake systems. With such a mixture, energy is a lot of expeditiously used, peak decentralization is earned and transparency is at a most.
The Veil platform can have mining activities enabled, this may be drained a regular manner. Its proof-of-work system ensures coins are disbursed properly and firmly with none issues. the employment of the ASIC-resistant X16RT hashing formula adds another layer of security that users are given on the platform.
USEFUL LINKS
Website: https://veil-project.com/
Reddit: https://www.reddit.com/r/veil
ANN Thread: https://bitcointalk.org/index.php?topic=5065331.0
Telegram: https://t.me/VEILProject
Discord: https://discord.veil-project.com/
Linkedln: https://www.linkedin.com/company/project-veil/