Blockchain experts from around the globe have grouped together to create The Veil Project. The blockchain is now live.
LAS VEGAS, January 5, 2019 (Newswire.com) - The Veil Project mainnet launched on Jan. 1, 2019. With their blockchain fully operational, their cutting-edge privacy coin known as Veil can now be mined, staked, and traded between users.
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 on a traditional savings account.
With a dedicated team of blockchain and privacy experts, Veil is constructed using the best available technologies as they are discovered. 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.
"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." - James Burden, The Veil Project and Veil Labs
Verify blockchain status using The Veil Explorer
Press Contact: Lori Brown
Source: The Veil Project