PRIVACY WITHOUT COMPROMISE

Veil integrates best - in-class anonymity technologies to become the first cryptocurrency to provide uncompromising and always available privacy. Learn more, download the wallet and join the journey.

WHAT IS THE VEIL?

Built on a solid Foundation

Key technical differences that make Veil unique.

PERMANENT PRIVACY POLICY

Veil combines Zerocoin and RingCT technologies to provide complete privacy without compromise.

ANONYMOUS EARNINGS

Veil is the first coin that allows its owners to place anonymous bets exclusively.

HONEST RUN

No ICO. No premin. The Veil blockchain is protected with Proof-of-Work and Proof-of-Stake to combine security and distribution.

USER ORIENTED

From advanced wallet interfaces to source code recovery and hidden storage space savings, Veil provides the benefits of crypto protection to the masses, focusing on the user experience.

AUTONOMY

The Veil network includes built-in self-financing for project development, operations, customer support and ongoing research and development.

PROGRESSIVE

Veil will continue to push the boundaries of cryptography and blockchain technology through Veil Labs, a division dedicated to research and development, and partnerships with leading academic institutions.

THE TECHNOLOGY OF THE VEIL

Learn how the Veil project uses cutting-edge technology to set a new standard in privacy-oriented cryptocurrencies.

Introduction and objectives

In the context of privacy-oriented cryptocurrencies, two main approaches have been used: one provides full-time privacy, and the other provides excellent anonymity. Each of these approaches has its advantages and compromises.

The original monero privacy coin with RingCT technology ensures full-time privacy. However, RingCT, based on sophisticated mixing, has been surpassed in terms of the power of anonymity by advanced cryptographic techniques. Coins like Zcoin are based on the Zerocoin Protocol, which provides excellent anonymity, but with the disadvantage that only certain types of transactions on the network are private, making it possible for an unintended public transaction. To highlight the magnitude of this problem, in the networks of some of the most prominent privacy coins to date, less than one percent of all transactions are private.

Finally, a drawback shared by many privacy-oriented projects is the reliance on external experience and external software development to improve their networks.

The Veil project improves the condition of cryptocurrency focused on confidentiality, creating a safe anonymous coin and providing complete privacy. Veil offers a user experience suitable for the masses, with self-funding to support long-term research and development by a dedicated team of blockchain researchers and developers.

This document introduces the project, its technologies and approach to long-term sustainability.

The core technology of confidentiality

Veil combines the safest in the world software for the block chain, Bitcoin version 0.17.1 , with improved privacy Protocol based on cryptography, Zerocoin .

• In ten years of operation, The bitcoin core has demonstrated itself as the most secure and battle-tested blockchain software.

• The Zerocoin Protocol is based on zero-knowledge proofs , a cryptographic method that allows one to prove that a computation took place without knowledge of its inputs and outputs. In the case of cryptocurrency, this calculation will be a value transaction in which the sender, recipient, and transaction amount can remain anonymous.

• Protocol support Dandelion makes it virtually impossible to track the transaction until the transaction of the source node in the network.

Ensuring constant confidentiality, effectively

Those familiar with Zerocoin-based networks know that the Protocol uses a non-private transaction state known as Basecoin to account for the fact that zero-knowledge transactions occur between discrete coin sizes. In networks such as the PIVX, for example, coins of anonymous discrete denomination enter the publicly visible state of "base coins", from which smaller anonymous denominations can then be recreated in a process called "minting," with all remaining base coins considered "modified" into a coin purse.

To ensure that the confidentiality Veil will add privacy RingCT from Particl their Basecoin transaction, so that all components of the transaction network Veil are the same anonymous as this provides the modern technology.

Finally, Bulletproofs technology will be adopted to ensure minimum transaction sizes.

Consensus algorithms

The Veil network will use a hybrid consensus system called Proof-of-Work (PoW) and Proof-of-Stake (PoS).

Proofreading from the stake consensus system will ensure maximum decentralization, energy efficiency and provide a mechanism for all Veil holders to earn rewards in the Vale in the splitting process. To further enhance the privacy of the coin, bets will only be available through Zerocoin denominations , and for this reason all Veil balances (except exchanges) will be automatically minted with these denominations: 10, 100, 1000 and 10000 Zerocoin Veil.

The Proof-of-Work Mining system guarantees a fair distribution of coins, avoids the need for an ICO or pre-mine, and increases the security of the entire network. To ensure fairness of mining when mining Proof-of-Work will be used by ASIC-resistant hashing algorithm X16RT , an improved version of the X16R submitted by the project Ravencoin.

User experience

The veil attaches great importance to user experience, and in this regard will support a number of experience-based benefits, starting with zerocoin's multi-transaction costs .

What's the meaning of that? Those familiar with the Protocol will be familiar with the concept that, due to the computation requirements and transaction size of the Zerocoin system, transactions are usually limited to a fixed number of denominations. How this manifests itself as a user problem is to limit the amount that a user can spend on a single transaction. The veil eliminates this user friction with multi-block transactions that are transparent to the user, and allows them to create parcels of any size.

To avoid the need for file backups, the Veil wallet will support one deterministic seed BIP-0039 / BIP-0044 from which the entire wallet can be recovered, including transactions with Basecoin and Zerocoin.

Finally, starting with phase 2, the Veil wallet will offer users the ability to store huge (and ever-growing) volumes of local disk storage through a process known as transaction reduction , in which all transactions not related to a particular wallet are removed from the local dataset.

For those interested in securing the network with a full node, Veil will include a reward for all transactions in the block.

Veil emission chart

As shown in the table, the veil coin issue schedule includes:

• A declining and limited contribution to the founder to return the initial investment from which the project was started.

• Declining, but not limited to contributions in the Veil Labs , to ensure that current research and developments in technology privacy associated with cryptocurrencies.

• Paramount, diminishing not a limited contribution to the operating budget Veil , financing operations, such as the development of the core network and budget, project management, online user support, compensation, marketing and partnerships.

• It should be noted that funds allocated to laboratory and operational budgets will not be allocated , i.e. These funds will not disadvantage those who participate in the network. The salary is paid free of charge.

Veil Labs

Veil Labs consists of a dedicated team with a dedicated mission. It is a research organization of the project whose goal is to extend the technical boundaries for privacy and anonymity without compromising scalability and performance. For example, at startup, the size of the Veil transaction data would be 11.3 kilobytes using Bulletproofs. The original goal of Veil Labs is to significantly reduce it. This is one example of many.

After all, as new methods are developed and tested, the Veil project will be the first to implement them in Veil and will remain at the forefront of the industry.

Detailed information:

Company website: https://veil-project.com/

Username bounty0x: jmp22