The crypto-sphere is an interesting space to monitor because of the impressive activities that go on therein. From the dominance of the bears, the threats and monopoly of the whales to the surge of happiness that comes with the rebound of the bulls, the community is all shades of fun.
A threatening situation that obviously tends to hamper the success of crypto coins is the issue of privacy. For some time, users either their assets because of hacks or keep battling compromised data when transacting. While these issues hold sway, a project with a wide variety of solutions was working behind the scenes. Now, it is ready to release the packages it has for the crypto community.
Introducing VEIL
This platform has formulated plans to wrestle power from the overt monopoly of parties that reduce the security of transactions. In its place, VEIL introduces diverse but functional plans that would promote privacy and optimum security in the crypto-sphere.
The Zerocoin Protocol
At the heart of its massive structure is the Zerocoin protocol. The aim of developing this is to challenge the status quo while taking advantage of it to extend the reach of the proposed privacy features.
It’s worth mentioning that VEIL promises always-on privacy, which is possible with the combination of the Zerocoin protocol. This would work in accordance with the Proof-of-Work and Proof-of-Stake consensus mechanisms for uninterrupted security.
Bitcoin as a Driving Force
While we relish the thoughts and subsequent application of VEIL’s privacy structures to our daily transactions, it’s worth noting that the platform draws strength from Bitcoin. This is tenable following its hinging on the Bitcoin Core 0.17.1. This empowers it to play host to a wide range of advanced security features that are aimed at edging the project towards attaining its goals.
Anonymity and Transaction Size
While we love the prospects of having a hitch-free transaction, it is also important to consider the fees accruable to it. It’s noteworthy that the size of a transaction has a role to play in the cost. Hence, the Zercoin protocol comes through once more to forge synergy with the Bulletproof technology to reduce the size of a transaction.
24/7 Privacy
The major highlight of VEIL is its disposition to offer an always-on/standby privacy status to users. The implication is that you’re sure of having a secured transaction anytime. Interestingly, this is also formulated on the Zerocoin protocol. This move places VEIL in the spotlight as the first crypto coin that actually attained a full privacy status on transactions. Besides, this disposition also ensures that all transactions are untraceable.
Throughput
There are plans to create a solid system that would support an elastic block size of 2MB in the future. Meanwhile, VEIL promises a 60-second/1 minute order confirmation time.
The Team
VEIL is on COINMARKETCAP.COM
You can trade VEIL coin on exchanges like VINEX, STEX, GRAVIEX and the newly added CITEX. Click this link to see the various markets on coinmarketcap : https://coinmarketcap.com/currencies/veil/#markets
Final Words
We would continue to witness the proliferation of cryptographic-based projects that intend changing the spate of problems in the crypto-sphere. Now, VEIL's solutions fit into the picture of anticipated security structures needed for the growth of crypto coins. On that note, the project has impressive features and is worth commending for its bold strides.
Visit the links below for more insight on VEIL
👉 Website : https://veil-project.com
👉 Discord : https://discord.gg/Ywyb9hs
👉 VEIL Explorer : https://explorer.veil-project.com
👉 GitHub : https://github.com/Veil-Project/veil
👉 Telegram group : https://t.me/VEILProject
👉 Twitter : https://twitter.com/projectveil
WRITER'S INFO
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292
VEIL ADDRESS:
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