Veil Project launches mainnet for new privacy token ecosystem
The Veil Project, a zerocoin based blockchain ecosystem announced the launch of its mainnet on January 1, 2019. With their blockchain fully operational, the new privacy coin known as Veil can now be mined, staked, and traded between users.
Using a built-in economic structure, the funding of future advancements will come from a portion of the block reward from every block mined. This self-sustaining feature enables what will be known as Veil Labs, and will directly contribute to future breakthroughs in blockchain and privacy technology.
A Fair Launch
- For a minimum of one year, new Veil coins will be created using both mining and staking consensus methods.
- When the mainnet was deployed, there were no pre-mined coins, so no one has a distinct advantage over any other person.
- The mining algorithm known as X16RT prevents hyper-productive ASIC miners from dominating the creation of Veil Coins.
- Everyone will have an opportunity to mine using more affordable GPU mining rigs, right from home.
- For those users who are not ready to mine, there is a proof-of-stake option. Users will earn Veil rewards through anonymous staking, or holding on to a sum of Veil coins in an active Veil wallet to support the network. In this way, it is similar to collecting interest in a traditional savings account.
“Veil offers competitive technical advantages to its users, and will continue to do so, in the future. Protecting the human right to privacy through advancements in technology is the reason for all of this. Ultimately, our research and development is meant to benefit each and every user of our products.”