A new introduction to Veil technology – Beryl bess – Medium

A new introduction to Veil technology – Beryl bess – Medium

Digital transactions using cryptocurrency can now be done through the Veil platform. The reason why we should consider using this platform in transactions is one of them because the process is very privacy. This platform fully supports the privacy of a digital transaction, starting from the data obtained to the ongoing process. If usually users in other platforms can find out openly every data transaction that occurs on the platform, then this does not apply in Veil. Veil takes great care of the privacy of every user to increase their comfort in making transactions. So that data about transactions such as sender’s name, recipient’s name, number of transactions, transaction time, and address of each party will be disguised. Public users cannot find out the information directly and they will only find transaction information carried out anonymously.

The process that takes place within this platform also cannot be tapped by any party. At present there are many parties who have extraordinary expertise to tap and obtain certain information from a technology network with their own methods. Even this is indirectly carried out by certain institutions clearly and known by the public with the reason to supervise every transaction activity. If there are transactions that are considered suspicious, they will be able to take action faster. However, knowing and interfering in the transaction process makes users feel less trustworthy and even suspected of being involved in a crime. Therefore, Veil puts forward the value of privacy by making user data anonymous.

Strong privacy support in the Veil system is a direct role for Zerocoin and RingCT technology. Both of these technologies have been introduced in advance by the Monero and Zcoin platforms. Both are platforms that initiated the initial application of the technology. From them, it is evident that Zerocoin and RingCT can be relied upon to provide full privacy for unspecified time. The strength of the anonymity of RingCT comes from sophisticated cryptographic methods. It is also owned by Zerocoin with the advantage of undoubted anonymity. The combination of the two is only done by Veil to create a superior trait that will make the system stronger in maintaining his privacy.

There is one more technology that was also presented by Veil to further strengthen its platform building. The technology is called Dandelion. This protocol provides extra protection in keeping the shipping address hidden as an IP. IP is an arrangement of binary numbers in a certain order that shows the address of a device that made a transaction. Dandelion in this case serves to increase the level of IP anonymity and privacy. This is what will make every transaction in Veil difficult to trace. The application of this concept was inspired by BIP 156.

Veil adopted the most advanced blockchain technology today, namely Bitcoin version 0.17.1. The form is in the form of software created by the Bitcoin platform. This software has proven its superiority in terms of security after going through a series of tests. By Veil, this software is combined with Zerocoin to produce more sophisticated privacy protocols based on cryptographic bases. There were two consensus applied by Veil and made into a new consensus hybrid model, namely Proof of Work and Proof of Stake. The merging of these two consensus will make the process in it take place with maximum decentralization. This concept of decentralization is very core and is directly connected with blockchain technology. In addition, this consensus makes Veil able to distribute their digital coins evenly to all users without any specific restrictions or distribution for special circles. This makes the ICO and pre-mine period nullified by Veil. They will direct digital coin purchases in one period and are intended for all groups without exception.

Platform quality improvement continues to be carried out in line with the development of technology from each supported component. A special institution called Veil Labs is the main headquarters that handles all research and development activities on this platform. Technology continues to be developed to increase privacy in every transaction made. Veil Labs consists of a number of highly dedicated people in a team that focuses fully on realizing the Veil platform’s vision and mission. Veil Labs is a private laboratory owned by Veil where all efforts are created. Technical constraints for privacy and anonymity will be operated in line with increased scalability and performance. The form of scalability is shown by reducing the size of transaction data using bulletproof.

The best contribution will produce a masterpiece that is very valuable for all people. Veil will ensure that no effort is missed other than to provide their best competitive services.

Thank you. Reference in the link below

Website: https://veil-project.com/

Twitter: https://twitter.com/projectveil

Telegram: https://t.me/VEILProject

Team: https://veil-project.com/team/

Published at Thu, 04 Apr 2019 02:56:36 +0000