Security and transparency are two key reasons why people love the concept of blockchain, it's more or less a platform they can easily rely on for the safety and security of their funds. Since blockchain came to being many years ago, one major area of focus is that of privacy of public ledger or the absence of it, because people can search easily for the transaction details of a particular wallet and get to know all of its balances, transactions details of both the sender and receiver.
On one hand this level of transparency offers tremendous benefits to all involved, especially to big NGOs and other government organisations. on the other hand, for private individuals and other private institutions, it causes bridge of some sort of personal information which are not meant for public consumption.
About privacy coins
Privacy coins are coins that help to offer some level of anonymity to its users and it utilises a ledger that is fully private, in transactions like this the wallet addresses of its sets are kept hidden, transactions are untrackable and even the most experienced hacker or snitch might not be able to trace it.
The advantage of such coins is that they help companies for instance to shield their transactions histories as well as details of their customers as well. This goes a long way to give everyone involved in such transactions an absolute peace of mind.
Regardless of the rising number of privacy coins currently in the market, proffering solutions to the various privacy issues that has lingered in the space, many of them still come with quite a number of issues, but one true privacy project that has emerged to eradicate the weakness of other privacy coins and give further boost to the act of privatising transactions is the veil project.
About Veil
Veil is an innovative and brand new privacy coin that combine zerocoin and RingCT technology to help give absolutely level of privacy to all of its subscribers. the first time the Zerocoin protocol was ever used was in 2013, and its major use was in the masking of blockchain addresses. Coins sent from one end are burnt along the way, and new ones are being minted on the other end, thereby leaving no trace. This has been one of the best innovations regarding privacy that the world has ever seen.
While ringCT on the other hand is of Monero's decent, it helps in masking a coin's value, so that the amount of coin sent or received in every transaction remains hidden, veil merges these two technologies to achieve what can be argued to be one of the most private crypto coin the cryptocurrency space has ever seen.
Road map
Conclusion
Veil is a well thought out crypto privacy project that was created after carefully studying the flaws of past projects, with the aim of creating something near to perfection. It combines two different private coin technologies to make the best of them by annulling their flaws. No doubt, veil is the future of privacy coins.
Click on the links below for more info:
Website: https://veil-project.com
BitcoinTalk Ann Thread: https://bitcointalk.org/index.php?topic=5065331
GitHub: https://github.com/Veil-Project
Discord: https://discord.veil-project.com or https://discord.gg//Ywyb9hs
Telegram Group: https://t.me/VEILProject
Reddit: https://www.reddit.com/r/Veil
Twitter: https://twitter.com/projectveil
Facebook: https://www.facebook.com/projectveil
Authored by kafanchanchan
Bitcointalk Profile url: https://bitcointalk.org/index.php?action=profile;u=2433135;sa=summary
Veil Address:
bv1qf8sjvzrk75akmcwp58xynp3lz2sgfduv4ruvd3