About Veil


It is only possible to withdraw VEIL from txbit to a Basecoin address which begins with "bv". To generate a Basecoin address, go to your Console in the wallet and type:

getnewbasecoinaddress


Veil is the first Zerocoin-based cryptocurrency with always-on privacy. 


The Veil network will operate a Proof-of-Stake consensus algorithm to ensure maximum decentralization, energy efficiency and provide a mechanism for all Veil holders to earn rewards in Veil through the process of staking. To further enhance the coin’s privacy, staking will only be available through Zerocoin denominations, and for that reason, all Veil balances (with the exception of exchanges) will auto-mint to these denominations.


In at least its first year, however, the Veil network will supplement its Proof-of-Stake algorithm, in a hybrid approach, with Proof-of-Work mining, in order to guarantee a fair distribution of the coin, and avoid the necessity of an ICO or pre-mine. To promote fairness of mining, the Proof-of-Work segment will utilize the ASIC-resistant X16RT hashing algorithm, an improved version of X16R introduced by the Ravencoin project.


Veil places great emphasis on user experience, and in this regard will support a number of experiential benefits, beginning with multi-transaction Zerocoin spends.


Technical Details:

Name: Veil

Ticker: VEIL

Asset Type: Coin


Resources:

Trade on Txbit