Cryptocurrency is a digital asset which has been designed to function as a way of exchange through the use of digital money in order for the transaction to remain secured. There are a lot of cryptocurrencies out there in the world today and more are still being made on a daily basis meaning there's a lot of competition in this sector. What differentiates each of these numerous cryptocurrencies is called the blockchain technology. It is a transaction database in the role of a distributed ledger which is freely and publicly available as regards transaction history, making it a completely transparent innovation. It is also considered immutable, meaning that the cryptocurrency developers cannot change the transaction records. The argument for the benefit of this attribute is that transactions may always be trusted, without the involvement of a centralized authority, once they are committed to the blockchain ledger and confirmed by other peers.One major benefit to cryptocurrency is that it is not stored in a bank, as it is digital, non centralized, and tracked by the blockchain. Many crypto owners prefer to use a wallet to manage their private keys , which need to be safely stored in order to access cryptocurrency holdings. Tremendous strides have been made to advance cryptocurrency wallets and exchanges into the exciting and disruptive industry that it is today. Yet, the desire remains for a user-focused experience to buy, sell, and use cryptocurrencies in a safe, convenient, and reliable application.
Speaking of problems affecting the crypto world, they are too many to mention as more come up everyday,but the most challenging of them all is the issue of security. Due to the fact that blockchain tech uses a non centralized system, every data of its users cannot be kept in a single place, rather they are scattered into various "blocks" This has made it very easy for hackers to gain unauthorized access to the various accounts on the system.
What is Veil?
This is a new innovation in the crypto world which will serve the major purpose of ensuring complete privacy for users on its network. The team behind the project have made it keep security as key and also take it in preeminence when performing it's functions. It implements the zerocoin which is a system clouded in mystery and has an advancement in security. This is what gives the project an edge over the others in its terrain.
1.Privacy and Security
Due to a lot of mishaps in various cryptocurrencies out there, as regards not being able to protect users data and assets,veil was made to step in and become a game changer.It will ensure tight security to all users on the platform
2.Ability to stand alone
It is a standalone innovation, not requiring any help from others who aren't involved in their enterprise. Meaning they are capable of developing their project themselves making it one in a million.
The world is advancing quickly into a better form of its former self with new sectors and innovations coming on board(cryptocurrency being the focus of this article). Veil has been made to further advance this sector by providing reliable security and privacy for its users
For more info:
ANN THREAD: https://bitcointalk.org/index.php?topic=5065331.0
Bitcointalk username: dessyhodin97
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile
Veil wallet address: bv1q7u5dwyehwn8alk2e88lrxn9cs3ncqy5v7tqkd6