Need for privacy-oriented cryptocurrency? Discover Veil Network.
The beautiful part of cryptospace is the continuous discoveries and innovations that seem endless in milestone. Amidst numerous supposedly projects with brilliant ideologies and plans there we find hit-and-run one. Although good ones exist there in, but it takes a thorough research and analysis to
single out the ones that have come to stay. As a writer, I don't just write because everyone does but I do with the onus of giving out high class information to my readers and fans and everyone who may either deliberately or accidentally come across my articles.
- Concept
The Underlying Technology
zero-knowledge-proof. (Please refer to this blog post for latest update on Zerocoin protocol). A zero-knowledge-proof is a paradigm that tends to establish the existence of a computation (object or set of objects) and erasing it's interaction (i.e input and output) making it seems nonexisting. The effect of this is to predispose all transactions both from sender to receiver and the state of the world block to anonymity.- Uncompromised privacy
It is no doubt that Veil uses a blend of firewalls for its base technology. One of them is world's most secure blockchain software Bitcoin version 0.17.1 . Data on Bitcoin blockchain technology are practically open to anyone to use. Transaction data on a blockchain can be accessed by anyone with the know-how and traced to an IP address to know the source of such transaction. This isn't relate to a security loophole but an express breach of privacy.
To make up for the aim of the project, Dandelion protocol was employed to play a significant role in uncompromising user's identity. Read more about Dandelion here.
- Consensus Algorithm
To achieve reliability, Veil network uses a hybrid/dual algorithms to achieve consensus within the network. These includes Proof Of Stake (PoS) which is a mechanism that allows users to earn through the process of staking. And Proof Of Work allow for fairness in distribution of coin among participants within the network.
- Seed recovery/Storage Management
I'm pretty much sure no one gets to this point without having to try to get the actual gist. Majority of decentralised crypto wallets out there do not however support or have the super funtion of recovering users' fund in the event where the seed words is misplaced or lost. In practice, recovery is not guaranteed where user cannot access his back up key (s) (mnemonic words or private key or Jason file or keystore file whichever was used at the initial wallet setup).
The Veil wallet will support a single "BIP-0039/BIP-0044 Deterministic Seed" which removes the compulsory back up requirement. From this, the entire wallet is restored which includes both Basecoin and Zerocoin transactions. It also uses a system called transaction pruning to clear irrelevant transactions relating to the wallet from the local machine thereby reducing workload on the storage. Download wallet here.
- Advanced Users' Experience
Veil uses a multi-block transaction - a model that allows users to create muitiple transactions or of any size which removes the limitations to the amount a user can spend at a single transaction.
- Continuous improvement of user experience
Veil wallet is loaded with advance wallet interfaces with necessary features that give users maximum experience and fulfilment of having control over their funds.
NB :
VeilLab
| James Burden a.k.a 4x13 (Founder) | Tom Bradshaw a.k.a presstab (Lead Blockchain Architect) | Jeremy Anderson a.k.a Blondfrogs (PoW software engineer) |
|---|---|---|
 |  |  |
| James has been in crypto space from 2012 to now. What started off as a curiosity for mining bitcoin, became a game changing presence in the world of cryptocurrency.... | Presstab has extensive blockchain experience with in depth knowledge with proof of stake and proof of work consensus systems, privacy protocols, and deterministic decentralized systems.... | Blondfrogs is an expert software engineer who is known to make his colleagues laugh—if they can pry him away from his seemingly endless list of daunting tasks.... |
| CryptoMaximalist (Support Team Lead) | Dango (Community Manager) | Lucca Spaapen a.k.a gets (Community Manager and Support) |
 |  |  |
| CryptoMax is an Information Security professional who has been involved in the crypto space since 2013. He has useful knowledge and skills in trading, mining, technical analysis, support, and community management. | Dango, one of the leaders of the team has an unmatchable commitment to doing good work. A tireless coach with an advanced understanding of technology. | He is a technology buff who enjoys learning and teaching the various aspects of cryptocurrency, and he has an advanced understanding of the intricate puzzle known as a blockchain. |
| Strontium (Quality Assurance) | Jakiman (Community Manager) | Jeffery - Regional Lead (South Africa) |
 |  |  |
| Strontium has worked in all aspects of the crypto industry, but his real value is in his ability to envision the best case scenario, then devising the plan that makes it into an achievable goal.... | Jakiman has been involved in the cryptosphere since 2013. He is one of those rare and lucky miners who got in early enough to say he is a miner that became an investor. Jakiman is an optimistic and knowledgeable member of the Veil team. | Jeffrey is an early cryptocurrency adopter, an investor and a blockchain enthusiast since 2012. He has years of experience with privacy coins, tech support and promotion of cryptocurrency adoption.... |
| Bruce Yin (Regional Lead (China)) | Aleksandr Sh (Regional Lead (Russia & CIS)) | Sean Phillips (Technical support) |
 |  |  |
| Bruce is a specialist in analysing and managing business processing with more than 7 years’ experience in Business Process Outsourcing industry.... | Aleksandr could not describe himself because of the innate sense of modesty. Nevertheless, he entered the cryptoindustry in 2017 and seems to remain in it forever.... | Sean started in crypto in December 2017, but has been involved in computing since the 1980s, telecommunications since the 1970s and digital currencies since about 2000..... |
| Mark Fortenberry a.k.a Hort (Technical support) | Grumpy (Technical support) | MaDOS (Community Manager) |
 |  |  |
| Hort is known for his above average intellectual skills in language and his accute awareness of technologies especially revolving around blockchain projects since 2013.... | Grumpy has been involved in cryptocurrency since 2012. He’s accumulated a lot of technical experience through reading, and continues to improve every day. Veil is his first professional crypto job, and he’s loving every day... | MaDOS is dedicated to fostering well-informed and engaged communities. Her knowledge and experience in different fields makes her a go-to for a variety of tasks. A Veil fixture that you will surely meet if you hang around.... |
| OneZetty (Regional Lead (Mexico)) | Ziscad (Regional Lead (South Korea)) | ElisiumcoreX (Creative Director) |
 |  |  |
| Mr K a.k.a kangaroo (Design generalist) | ndvg (Lead Motion Designer) | Alexandros (Digital marketer |
 |  |  |
| MisterKangaroo specializes in design and focuses on the world of decentralized crypto projects. He is helpful in several departments thanks to his enthusiasm for technology and his knowledge of the blockchain community.... | nvdg is an avid programmer / scripting specialist in the field of animation. As our Lead Motion Director, her primary focus is on motion graphics, motion design and animation. nvdvg is a vetted animator in the film & broadcast industries, and brings a wealth of capability.... | Alexandros is experienced in marketing, promotions and effectively sharing product messaging through traditional and modern outlets. His main focuses are digital media, event management, brand awareness, presentation design, and market research.... |
| Gabriel Nergaard (Web engineering and Writer) | Michael R. (Writer and Community Manager) | Ant a.k.a Nuse (Advisor) |
 |  |  |
| Gabriel was a software engineering entrepreneur in the aerospace industry, and currently in the consumer digital products industry. His interests include traditional and crypto investing, user experience design, and writing... | CryptyMike is an entrepreneur working full-time in the cryptocurrency space. We will leverage Mike’s connections in the media and his content creation talents to share the Veil message with the world. His social skills and his ability to connect with people makes him a great addition to our active staff... | Nuse is a “well seasoned” crypto trader who has been at it since 2013. We will utilize his talents demonstrated by the results of his short term and mid term investment strategies.... |
| Florian a.k.a Marsmensch (Lead Advisor) | Justin Lee (Advisor) | Notsofast (Advisor) |
 |  |  |
| Marsmensch is known as an Open Source Evangelist with advanced abilities in the world of blockchain technology. He is a supremely patient developer and his knowledge is highly valued... | Justin Lee is a specialist in communications cross-culturally. Justin works on public relations, marketing and will focus some of his skills toward the Korean community.... | Since 2013 Notsofast has been setting a positive example for conducting business in the “Wild West” period of the new cryptocurrency generation. Veil will utilize his understanding of advanced technologies to assist in getting the world to come and see what we are up to.... |
| Tony Kim (Advisor) | Donnie a.k.a Bitcoindad (Advisor) | |
 |  | |
| Tony Kim is an iconic figure in blockchain circles and he is a skillful trendsetter. Tony is an expert in cross-border negotiations, and an experienced cryptocurrency investor. He promotes the world’s most cutting edge technology in Korea, and he is known, globally...... | Bitcoin Dad has been involved with Cryptocurrencies since late 2013. Miner and trader, who specializes in fundamental analysis and marketing.... |
| GitHub | Discord |
|---|---|
| Telegram | |
| Blockfolio | Website |
Disclaimer:
I think I prefer this network. But the wallet isn't downloading. Anything I need to do? I use Android.
Hey man! Good to see you back. Long time no see. You can't download the wallet on mobile for now. The version isn't ready. You can only do that on PC. And you need to follow the instructions as I placed in the link. I'll chat you WhatsApp for better understanding of you need privacy.
I read it that Zerocoin protocol was diagnosed of having a security loophole. But I love the part that the Veil team is protecting her users by frequent updates looking for a better protocol...
Meen you indeed crack this article.
That's quite right though. But the team detected it even without causing any damage. So they took necessary measure to prevent any penetration. If read further in the article here , team have stated how they plan to migrate as soon as possible and without any interruption to the state of the network.
Thank you for reading.
Hey dude, you owe me some accolades.
Well explained, thanks for sharing
Thank you for reading @Barineka
Is veil a blockchain platform? Do they run only wallet as a service? I mean their product.
It's a blockchain-based platform not a blockchain-as-a-service. Wallet as the core service with other ancillary services in the course of transaction.
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Nice one Bob, I'll definitely be watching veil closely.
I just need to get a new PC and download the Veil Wallet. Some of my friends too are considering doing same. I'll pretty move my portfolio down there and use the chain to run transactions. It pays that way.
What happened to your computer?