Veil
Crypto Overview
Overview
Veil is a privacy-focused cryptocurrency launched in 2019 that aims to provide anonymous transactions using a combination of RingCT, Zerocoin, and Stealth technologies. The project is built on the Bitcoin core codebase with additional privacy features.
Purpose and Utility
The primary stated purpose of Veil is to serve as a medium of exchange with enhanced privacy features. It uses a hybrid Proof-of-Work and Proof-of-Stake consensus mechanism. The project implements RingCT for transaction privacy, Zerocoin protocol for anonymity, and Stealth addresses for recipient privacy.
Business Model & Development
Veil operates as a decentralized cryptocurrency focused on privacy preservation. The project demonstrates ongoing development activity, though at a relatively modest pace. The development team maintains regular updates to the core protocol.
Real-World Adoption
Current adoption appears limited, with the main usage being as a privacy-focused medium of exchange. Trading volume and network activity indicate the project has a small but active user base.
Token Distribution
Veil's initial distribution included allocations for development, marketing, and founder rewards. The project implemented a fair mining launch with no pre-mine. Block rewards are split between PoW miners and PoS validators.
Crypto Impact
To assign a comfort level investing in Veil from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Veil.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.