VEIL-PROJECT : PRIVACY 2.0
One of the major reasons of cryptocurrencies coming into existence was the need of decentralization - moving powers and controls of monetary systems from corporate entities and governments to the masses. Giving individual controls to their funds and complete ownership was the bedrock of crypto. Although most cryptocurrencies are used to ensure that owners of wallets have powers to the use of funds in the wallet, that wallet addresses can be seen on the blockchain along with its transaction history; to ensure transparency. These information are visible on the blockchain and can be tracked using chain analysis. This of course intrudes privacy. This lack of privacy in most coins like btc, eth poses a sort of limitation in its usage and has raised the desire for coins that are privacy-focused, because most people and businesses wants to transact in anonymity.
Asides transacting in anonymity, privacy coins helps in propagating financial freedom by increasing individual's security by keeping owner's wallet balance private and also helps in businesses because not all business transaction should be made public because of waivers given to different customers.
Private coins integrates privacy into the system by obscuring addresses involved in transactions, and also the transaction amount. Some solutions and protocols were introduced to solve this problems such as ring signature and stealth addresses in monero, conjoin used in dash, zerocoin used in zcash and pivx, zerocash used in komodo and zclassic, RING-CT used also in montero to mention a few. These solutions has its pros and cons, where transactions could be hidden but only in high volume, while some don't require a third party, they do not provide full privacy for transaction amounts. These protocols solutions tends to be solving the problem completely, and the need for better protocols gave rise to VEIL
THE VEIL PROJECT
Veil is a blockchain project, focused on privacy - main aim is to offer the most private and anonymous transactions on blockchain. Veil tends to be combining different protocols such as zerocoin protocol, dandellion, bulletproof and RING-CT to achieve this aim.
Veil uses the zerocoin protocol to create a zero-knowledge transaction history by destroying a coin and remaking it, uses the RING-CT for hiding sender's information and transaction amount. The dandelion is used to shield or disguise the ip address of a transaction while the integration of bulletproof to the zerocoin protocol increases scalability - ensures minimal transaction size
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Veil coin was developed into making it an "always on" privacy, more anonymous and secured by removing any third party intrusion evident in other privacy focused coins.
Veil already has signed releases of wallets for Linux, Mac and windows versions with the android and ios version core wallets releases expected soon.
An integration of wallet system into hardware wallets like ledger and trezor is still in plan. Veil is currently trading in 10 exchanges and are working really hard to ensure listing in some leading exchanges for better liquidity.
Veil has a maximum supply of 300 million coins premined with a hybrid POW(X16RT mining algorithm) and a POS model where you can get staking dividends from staking coins in its wallet
Privacy coins faces' have been lifted following the launch of veil project, its combination of different protocols to maximize privacy and anonymous transaction has made it stood out among other privacy-focused coins. You can follow veil project using the links below
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Veil address : bv1q84jtcqgzgusrpu7nct6tvwp0n90llcyqlmrh7d