Greetings to you dear friends. Most recently, I discovered new cryptocurrency projects called Veil. This is an anonymous cryptocurrency of a new generation. Which includes the latest developments from the world of anonymous cryptocurrencies. Therefore, this coin so quickly enters this market. It has a number of interesting quiet technological solutions. And it opens for us the market for new private coins. I have already considered this project, superficially. My last article can be read on this link. Today I would like to pay more attention to the technologies of this project. And discuss them with you. Before we get going let's look at the main problems of the industry data.
As we all know, cryptocurrency is constantly evolving. Because these are technological solutions. Therefore, the market is full of competitors and new projects. The fact is that the release of new technological solutions allows us to develop the market. And the icing of technological solutions gives us a new improved product. What the drive actually says to the development of the entire cryptocurrency as a whole. Project Veil is one of those. He absorbed the best aspects of all anonymous cryptocurrencies and presented us with something new.
Technological solutions of the project Veil
What is Veil - a new anonymous cryptocurrency which is equipped with the most advanced technologies? Created to hide our transactions with you inside the network. Suitable for all those who think about their security and want to stay online anonymous. The project proposed a number of technical solutions. The project will use the advanced protocol Zerocoin, Dandelion protocol, mandatory stealth addresses RingCT, Bitcoin Core version 0.17.1. Also, for the production of Veil, PoW technology solutions with the X16RT Mining Algorithm and PoS exclusively with Zerocoin will also be included.
Bitcoin Core version 0.17.1.
As I understand it is the latest software version that allows you to connect to the Bitcoin network. To conduct transactions in the inside of the network. As I understand it, a wallet of our new project VEIL is built on its basis. And it supports Windows, macOS, Linux, paper wallet.
Proof-of-Work - Proof-of-Stake
The Veil project presented us with a hybrid solution for mining their coins. For PoW, the new advanced algorithm (X16RT) will be used. And for PoS will be used (Exclusively with Zerocoin). So this is also an excellent technological solution from the project team. Also in the project documentation states that will be produced 300. 000.000 coins Veil. Estimated time end of mining in 2037.
Technological solutions for anonymity network
Here is the project Veil tried to glory. Gathering all private technology from various projects together. Which gives network users such as high anonymity. Do not forget that anonymity ends on the exchanger. Don't forget about it.
Zerocoin
Well, let's start with the main. Zerocoin protocol improvements will be used in the Veil project. In simple words, Zerocoin allows you to hide the trace of cryptocurrency transactions. An anonymous Zcoin coin (XZC) is built on its basis. For those who want to learn more about this protocol: https://en.wikipedia.org/wiki/Zerocoin_protocol
Dandelion protocol
A protocol that mixes all transaction data. What makes it almost impossible to track the source data of the transaction and IP addresses. Thus bringing anonymity to a new, inaccessible level.
RingCT
The technology that is used in Monero cryptocurrency. Which creates a number of signatures on the transaction thereby not allowing to determine the original source of sending. It will also be used by the Veil project to protect your anonymity.
Team Veil decided to use the development of recent years. Ice over them and give us a unique product that cannot be traced. Great team decision. Zerocoin, Dandelion, and RingCT will provide us with the complete privacy of our data with you.
Conclusion
The project presented us with many technological solutions. Combined into one unique network. So I think this coin will soon overtake its competitors. Moreover, many users have not yet abandoned full decentralization and anonymity. I think they will like this project.
Website: https://veil-project.com
Wallet: https://veil-project.com/get-started/
Mining: https://veil-project.com/mining/
Exchange: https://veil-project.com/exchanges/
Author
Bitcointalk Username: anatolij.shishkin
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2280356
Veil Wallet: bv1qac7vah5t3t7h620agtj70akxxehzzs35eg7dn9
Great project.
Your assets and funds will not be noticed.
But I read his website. He said that although there are many wallets that can be deposited into his currency, but to use those wallets listed on the website, only those wallets can really receive the coins! So this thing is need note!
Yes, there they have their wallet. And it is required for the entire system. So you have to install. And even better to read it on the instructions. He is difficult to manage.
The Veil project is really getting a hype and interest from various platforms that i have been visiting. I have seen it several times on bitcointalk forum and also on steemit by several writers. So just to be clear about the goal of this project how are they going to really bring a real value to their VEIL coin because i don't see any product out there even as at now. Is there any that i am not aware of?
It is that everything is tied to the network. In such projects, the main advantage is anonymity.
The fact is that in the cryptocurrency world, such coins are hidden, hiding capitals. Transfer large amounts. The project has incorporated several key features. They gathered a bunch of technology into one.
Thank you for visiting my page.
Dear @carbodexkim, thank you to invite me to see your post, but i am no more passionated about "wonderful" projects because this crypto world is driving by non meritocratic think but by whales which moves capital and decide to grown or dead any project, wonderful or shitty doesn't matter, this is sad but right now is true, i hope in future this world will change and we will be again positive mind, now it is impossible to be positive...:(((
Each system has flaws) Thank you for coming. Read the article about the project. And expressed their opinion.
Yes, old projects can not keep competition. This is a whole problem.
Yes, old projects can
Not keep competition. This
Is a whole problem.
- promoeye
I'm a bot. I detect haiku.
Yes, of course. What is newer in order for it to become more popular.
Thanks for the great review. Of course a lot of technology uses the project. It is clear why he is popular today.
Yes, a great project.
Thanks for the invite- great post.
A back to basics concept wedded to the latest of tech. Visited Viel site-Looks awesome and solid.
Main product. The product looks solid. Let's see what the developers will show us in the future.
I read your last article. Very interesting project. Thanks for sharing.
Thanks for visiting my article.
The project presented us with many technological solutions.
Yes, the project has a global solution to the problem with anonymity.
Excellent article, all told in detail. Will necessarily participate
I tried to identify the main technologies that will be used in the project. Of course, I did not find an English review for all products. But on each of this technology were built separate projects. And Veil got them all.
Great project. I wonder whether the price of these coins will grow.
It seems to me too. That the price will grow. Constantly.
Great idea. It is necessary to read more about the project. Really interesting idea of the platform team.
Yes, all the links in the description. Visit the project site and explore it.
People who love anonymity I think will be happy.
Yes, I am also pleased with this project. Price Monro today $ 66. So how much can this project go? With its latest technology. 100 $ -200 $?
I like the PoS + PoW solution, which the project team decided to implement, it is the most promising today. The combination of X16RT + Zerocoin consensus algorithms looks good
Yes, they all look very nice.
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the project is very good, I will definitely watch the developments
Yes. So do I. I do not see pluses. And when I studied all the specifications. I realized that the project brings anonymity to a new inaccessible level.
Hello there my friend, sorry for being late
It is a promising project, however, what is happening with the SEC and other regulatory bodies? Surely they will not agree with totally anonymous technologies that could be used for money laundering or other illegal actions.
It should certainly have security protocols such as KYC and AML to prevent illegal acts.
Thanks for sharing
Do not burn. That is completely anonymous addresses. No personality is shown in the system. There are invisible addresses.
I see now. Thank you for clarifying
I love this project. I think it will revolutionize the crypto system.
However I think I will wait until there is an android version before I download the wallet.
Exciting times ahead. Thanks for a very clear and simple explanation.
Fell free to keep me upto date.