The privacy coin is one of the coins that has a high level of popularity in the operation of platforms based on technology. The construction of the Veil project was initially funded by the founders themselves without using funds from the ICO (Initial Coin Offering) and IEO (Initial Exchange Offering) which guarantees Veil as a platform that provides the most sophisticated privacy coins.
ICO (Initial Coin Offering) is one of the media used as a tool to raise funds used to fund new projects. The way the ICO works is to offer a number of funds in the form of to investors and later investors will pay the with funds in the form of Ether or . Just like the process of selling shares on the stock exchange, if the company that offers shares has a good reputation, then the share price will be worth double if resold. The opposite happens, if the reputation of the company decreases or is at the lowest level, then the stock price may drop or the value is lower than the initial purchase. So is the tokenisation system on the . Investors will purchase if the platform or star up reputation rises or is always in a stable position. Which is evidenced by the large number of people who use services on the platform. For example Databloc’s reputation as a platform that provides online data storage services that have many world-class company partners. We take the example if in the beginning 2000 were equal to 2 ETH, then later it could be 2 equal to 2 ETH. Then investors will get a profit of 2000 times.
The second media used to raise funds is through the IEO (Initial Exchange Offering) process. This raising system is governed by a trusted exchange platform. It’s different from ICO which can be done directly by platform owners or developers. The participants must also create an account and a number of funds in the exchange exchange.
In general, fundraising with the ICO system is more attractive to investors than the IEO. Despite the ICO’s shortcomings it does not have a regulatory body that regulates the prevention of money laundering.
The Veil project development was also led by the founder of PIVX. Therefore there are several components of PIVX technology that were applied to Veil. Veil’s main technology is based on in version 0.17.1 and collaborated with the Zerocoin privacy protocol. On some platforms that use privacy systems they prefer to use Zerocoin instead of Zerocash. Because Zerocash is a new coin that still has a high level of risk. Unlike the case with Zerocoin, which has been tested by several cryptographers since the 1970s.
Previously to activate system privacy on the , users had to use TOR (The Onion Router). TOR (The Onion Router) is a technology that instructs the server to convert users to anonymous. By using the internet network traffic for free, more than 4000 relays. This network is called onion routers. TOR is usually used by users to criticize the government or it can also be used to do things that violate the law. But by using Veil, users do not need to use TOR, because Veil has facilitated IP anominity with the Dandelion protocol network layer. This is done also makes users not dependent on TOR (The Onion Router). Therefore, even though basecoin is a public coin, but in its operation, Basecoin still applies a privacy system.
Veil also uses a consensus profit or proof of work, plus a hash technology component to guarantee distributed coins in a secure network. As well as the development of the X16R hashing algorithm system which is more resistant to the development of ASIC.
Each platform project development has its own ways to raise funds, but the founder of Veil chose to use personal funds, in order to focus the priority of the platform as a platform that focuses on privacy systems.
Project links:
Website:
Wallet:
Facebook:
Twitter:
Reddit:
Telegram:
GitHub:
Exchange: or
Published at Tue, 23 Apr 2019 13:13:59 +0000
