What Is Veil-project? (VEIL) Complete Guide Review About Veil-project.

What Is Veil-project? (VEIL) Complete Guide Review About Veil-project.

What Is Veil-project?

The Veil-project was conceived in 2018 by James Burden, a recognized expert in crypto-privacy and holding a track record of founding successful cryptocurrency projects like PIVX. The motivation for Veil-project was the need for a currency that provided full-time privacy, without compromising strength of anonymity. With seed funding in excess of one million USD, a team of leading blockchain developers, cryptographers, mathematicions, user experience and operations personnel was formed.

The project’s mainnet launched in January of 2019. implemented a self-sustaining mechanism, encoded into the network, providing funding for ongoing operations, marketing, partnerships, bounties and other activities required of successful initiatives.

Veil-projec Storage Key Points

Coin BasicInformation
Coin Name Veil-projec
Short NameViel
Circulating Supply86,077,879.80 VEIL
Total Supply94,918,809
Source CodeClick Here To View Source Code
Explorers Click Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

A Digital Alternative To Cash

Key differentiators supporting a private, cashless society.

Privacy By Default

Veil-project Coin privacy should not be optional. With the upcoming RingCT release, Veil will make full-time privacy the most convenient choice.

Incentive Participation

By holding the users not only contribute to broadly distributed network security, but earn staking rewards—anonymously!

Fair Launch

No ICO. No premine. Veil-project blockchain is secured via Proof-of-Work and Proof-of-Stake in order to combine both security and fair distribution.

User-Focused

Veil-project In a digital cash society, participation extends to everybody, not just those who read user manuals. With the upcoming RingCT launch, Veil will release one of the most user-friendly wallets in crypto.

Self-Staining

The network includes built-in self-funding for project development, operations, customer support, and ongoing research and development.

Future-Safe

Veil- Veil-project Coin will continue to push the limits of cryptography and blockchain technology through Labs, an entity dedicated to R&D and partnerships with leading academic institutions.

Privacy Without Compromise

Veil-project is creating an encrypted equivalent of the cash economy, where privacy is the most convenient choice. Learn more, download the wallet, and join the journey.

Technology

  • At its core, Veil is built on the world’s most secure blockchain software, Bitcoin version 0.17.1.
  • In order to provide for “always-on” privacy, Veil added RingCT privacy from Particl to its Basecoin transactions, such that all transaction components in the Veil network are as anonymous as technology today can provide for.
  • Veil originally integrated the Zerocoin protocol, based on zero-knowledge proofs. However, this technology is currently being deprecated in the Veil network, due to the Zerocoin insecurities discovered in 2019.
  • Today’s version of Veil still includes a de-anonymized, safe, implementation of Zerocoin; however, the upcoming release of Veil 1.2 will remove Zerocoin v, moving to an industry-first, fully anonymous RingCT-based staking implementation.
  • Veil implements a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus system, providing both fair distribution, and an unprecedented level of protocol security.
  • Veil is the only protocol in the industry that support three separate proof-of-work algorithms, in addition its proof-of-stake algorithm, thereby providing fair distribution to ASICs, GPUs and CPUs.
  • Support for the Dandelion protocol makes it nearly impossible to trace a transaction back to its source node on the network.
  • Bulletproofs technology will be adopted to ensure minimal transaction sizes.
  • Finally, research is ongoing into cutting-edge Supersonic, the first practical, trustless, and efficiently verifiable zero-knowledge proofs, which are smaller than 10 kilobytes and take only milliseconds to verify even for the most complex statements. Should this research prove fruitful, future generations of the Veil protocol would take advantage of this advanced technology.

User experience

Veil-project places great emphasis on user experience, and in this regard will support a number of experiential benefits. For example, to avoid the necessity of file backups, the Veil wallet supports a single BIP-0039/BIP-0044 Deterministic Seed from which its entire wallet can be restored, including both Basecoin and Zerocoin transactions. And beginning with the RingCT protocol release, Veil will release a wallet, Veil X, that’s been designed and built from the ground-up with an emphasis on a friendly user experience.

Ambition

Veil-project ambitions are not just to be incrementally better, but eclipse the current landscape of competitors, and deliver the privacy currency users will want to own and use in the future. Sign up to the newsletter below, or connect on a social platform to stay up to date. They hope you join us for the ride!