VEIL – Privacy Without Compromise I
As it is not something new to the world again that the advent of the innovative blockchain technology show the unending urge for continuous innovations in our world. Humanity continues to innovate towards the better knowledge of our world and our capacity to bring non existing imaginative concept to reality. Before blockchain technology, there has been in existence of many breakthrough technology before. However most of them are centralized but with blockchain innovation which its decentralized approach, it surely fit in as an alternative to centralized systems which are not really sustainable. The development and acceptance of this technology has been evolving since the first public blockchain protocol was launched for more than 10 years ago and as a matter of fact, transactions on most of this protocols are publicly viewable and this is not in tandem to right of individual’s privacy especially in the digital space.
In order to find solution to this issue of transaction privacy, a group of experts comes together to create a protocol that will give every of its users to operate in a full enormous environment without compromising their privacy and the name of the platform they created is Veil.
What Is Veil All About?
The team of Veil project plan to make use of their expertise and experience in this industry to build a completely anonymous platform that’s second to none in this evolving industry.
For them to achieve this lofty goal, they concluded to make use of Bitcoin protocol since it is the oldest and still functioning protocol in the industry and it has proven during the course of more than 10 years to be effective and fully secured. Bitcoin protocol was complemented with Zerocoin Protocol which offers an effective encryption approach with a value of zero of any transactions initiated on it thereby not revealing the nominal value of any transaction on it. This is to say that it will give complete anonymity of any transactions initiated on it. The last Protocol on Veil network is the Dandelion support and the function of this is to make sure that the start of the transaction is not traceable which further provide privacy for it.
The above paragraph explains each part of Veil network and their function and what makes it to be truly anonymous platform that offers complete privacy to all its users.
Features & Benefits
Apart from all the protocols involved in Veil, it is also made of an hybrid consensus protocol which are PoW & PoS. For its operations to be more efficient and for it to be fully decentralized of all its part and the efficiency of energy in it, it’s essential to note that all blocks will correspond to Zerocoin value in order for the Veil network to be able to maintain the balance of veil and also not to truncate the anonymity of each transaction on the network. This approach will remove any unwanted instances and also increase the rates of all of its transactions in a way that they will be automatically adjusted to the value of Zerocoin. It is very important to sound it here that the nominal value of Zerocoin Protocol commences with 10 coins and increases in the multiple of 10s.
In order to make the Veil system well reliable and credible, a fair abd balanced distribution of coin will be achieved through comprehensive use of hashing algorithm which will target a fair and balanced proof of mining and the complete distribution of the coin. With this concept of distribution, there won’t be any need for any form of public sales.
To bring this into conclusion, we can easily conclude that the team of Veil did all the necessary preparation before coming up with their project and they make use of the best protocols in the industry to come out with a complete anonymous platform. Veil was designed in a way that all these protocols work together harmoniously to create a truly efficient platform with all their separate features.
My review about this project is purely my opinion and it doesn’t force any obligation on you rather than advising you to take your time to study this project and see if it worth your support. You can get further information about it by checking any of the links at the end of this article. Thanks for taking your time to go through it!
BTT Username: Aramine
BTT Link: https://bitcointalk.org/index.php?action=profile;u=2587883
Wallet Address: bv1qgs5a9cdgskldtpg6lncvve7qt4z3fd3my5u4d7