VEIL: THE BEST PRIVACY COIN WITH IMMENSE POTENTIAL

rainbowmichaels (35)in #veil • 5 years ago

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BACKGROUND
Crypto currency is a new currency (new in the sense that when compared to other currencies that have been in existence since mankind began the system of monetary payment it is quite young) that has a lot of similarities with the existing ones but some pecularities that makes it superior, both crypto currencies and other currencies are and can be transferred electonically and can be used in exchange or as payment for goods and services. However; cryptocurrency's value is determined by its supply and demand and here a lot of economics come into play rather than the oboslete method of value determination by the government who also issue and manage it for other currencies. Crypto currencies have no physical bills which sometimes trump down its legitimacy however it is widely accepted as payment in most countries as long as the merchant approves it, unlike other currencies that are only accepted in countries that issue them.
Cryptocurrencies have undergone so much development in the past 10 years since it's inception in 2009. from its first use of SHA-256 to its current running systems. But one of the major challenges faced by cryptocurrency is its transaprency system that has made it to encroach into the privacy of its users, before now the blockchain was publicly accessible to any Tom, Dick and Harry making every users personal transaction, shopping purchases on stores that receieve cryptocurrency and any history made with a cryptocurrency public.

TECHNICALITIES

Introducing the VEIL PROJECT a new cryptocurrency that came with the perfect solution for any investor miner: the ability to make transaction without leaving a long trail of crumbs leading back to themselves. Now with the security system tightened up one can invest, mine and transact with VEIL with an ease of mind.
The Veil project infuses three major technology: bitcoin version 0.17.1, zerocoin annd ring CT. The bitcoin network is the most secure blockchain technology and this has been proven time and again by several trials, while the Ring CT was added to achieve its promised optimum privacy system, and finally the zerocoin infuses a cryptographic method that allows a transaction occurence to show while hiding the when and where of the transaction ensuring its users privacy remains secure meaning it is an anonymous submission of transactions.

HOW IT WORKS
Veil works in two ways

A proof-of-work system
A proof-of-stake system
In its proof of work system it neutralizes the normal order of pre mine and need of an ICO rather there is an impartial dissemination of coins thereby ensuring transparency and satisfaction for all investors and miners. While its proof-of-stake system requires and enables its users have utmost fragmentation and thereby enable all users to earn through staking.

FUTURE FEATURES
In its future system, the veil project promises a feature that enables its users to save on a large scale on its local disk storage by removing transactions not relevant for a particular wallet from the local data.it also has a self supported system that is built in to take care of all developing needs of the project from project development operations to research and development operations

VEIL-project is the perfect dream for every investor aand miner, imbibing the perfect system of the already existig cryptocuurencies technology but also tackling the existing problems and giving long term self sustaining solutions to them. Veil is here to create a digital currency that will not only trump the existing but bring more limelight to the cryptocurrency world.

ROADMAP
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