VEIL's privacy technology is amazing
The crypto community is an interesting place to be because of the amazing projects that spring up on daily basis. From crypto coins that just rounded up their Initial Coin Offerings (ICOs) to exchanges that are about to commence operations, the sphere is just fascinating.
Over the last decade since the inception of cryptocurrencies, there has been a battle of sorts among different coins that contend to be the standard in anonymity. This is tenable because of the immutability they preach and the incessant hacks across multiple blockchain-based platforms. Privacy coins have sprouted , but earlier privacy coins have some shortcomings.
Problems with Privacy Coins
There ‘s a need for privacy because that is what many humans need irrespective of the platform they’re using. From social media to cryptocurrency projects, it’s imperative to have enough security for the user and the assets/funds at the disposal. In light of this, two privacy features namely, the Zerocoin protocol and the RingCT technology became a standard of sorts in the crypto-sphere. Looking back now, it’s clear that they cannot hold the fort for long because many other threats are coming up on daily basis.
The inherent downsides to these protocols necessitated the inception of the Veil Technology. We’ll look at the importance of this and the features it promises for the growing community of privacy-focused coins.
Creation of an Anonymous Coin
The essence of instituting cryptocurrencies is to literally “take off the eye of the public” from the amounts involved in any transaction. The same feature extends to the sender and receiver in that regard, Veil perfectly fits into that scenario because it is on a mission to create an anonymous coin that wouldn’t be under any threats. In furtherance to this, it also promises to provide a full-time privacy using one of its protocols.
Dual Consensus Mechanisms
There’s no gainsaying the fact that digital assets are not new kids on the block of global finance. Since Bitcoin (BTC) opened the way a decade ago, many other coins have made it to the space by providing amazing features.
Veil Technology sought to do something better this time. That is the reason why it chose to make use of a dual consensus mechanism. Considering the fact that hacks are imminent and there are palpable fears about Quantum Computers, the expectation is that these mechanisms will stand solidly to defend the territory of this project.
To that end, the project uses the Proof-of-Stake and Hybrid Proof-of-Work consensus mechanisms to facilitate transactions. It also takes advantage of the X16RT mining algorithm to ensure swift completion of transactions on a 60-second timeframe.
The Upsides to Veil Technology
The greatest attribute of this project is its ability to facilitate transactions in real-time while “masking” the identities of the transacting parties as well as that of the transaction rate. Furthermore, it solves most of the problems faced by privacy-focused cryptocurrencies.
Veil's amiable Team
CLICK THE LINKS BELOW TO KNOW EVERYTHING ABOUT VEIL COIN MARKET-CAP AND EXCHANGE LISTINGS
Here 👉 https://coinmarketcap.com/currencies/veil/
for overview and https://coinmarketcap.com/currencies/veil/#markets for markets (VINEX, STEX, GRAVIEX). VEIL coin recently got listed on CITEX.
Veil boosts Privacy
Crypto hodlers and traders will certainly love the security features introduced by this project. Veil Technology is not only introducing a privacy-focused coin but also securing transactions in the crypto-sphere.
TO OBTAIN MORE USEFUL INFO ON THIS OUTSTANDING PROJECT, VEIL, PLEASE CHECK OUT THE LINKS BELOW
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:
bv1qm7l3cdyr6x3ug65rk63lxz8jn5rq5fag9pzuyt
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Do you really think privacy coins will gain fame again? Well, this article is very insightful. The zerocoin protocol and other uniqueness of VEIL coin. But why is it still undervalued? I think the team should start attending popular crypto events for awareness.
Thanks. Privacy coins had some drawbacks but VEIL has revamped the privacy ideology. It's still undervalued probably because not many people are aware of the greatness of this project, but with time everything will fall in place. The team is already striving hard to ensure the best of this project. Thanks once more for your interest.