//Veil: The Always-On Private Cryptocurrency

Veil: The Always-On Private Cryptocurrency

Veil is an always-on private cryptocurrency. With most cryptocurrencies, privacy is merely an option in a user’s wallet, meaning a user can choose to spend in a pseudonymous manner, or a more private fashion.The Veil Project has two types of coins: basecoins and zerocoins.Basecoins on Veil are automatically minted into zerocoins above 10 basecoin. In other words, every time a user has at least 10 basecoins, they are automatically minted into zerocoins.The reason that two types of coins exist and every coin is not minted into a zerocoin, despite the fact they are the same currency (Veil), is simply because there is a computational cost to minting and spending zerocoins. However the average user does not need to worry about this, as they will ultimately see one balance.

Veil is an always-on private cryptocurrency. With most cryptocurrencies, privacy is merely an option in a user’s wallet, meaning a user can choose to spend in a pseudonymous manner, or a more private fashion.

The Veil Project has two types of coins: basecoins and zerocoins.

Basecoins on Veil are automatically minted into zerocoins above 10 basecoin. In other words, every time a user has at least 10 basecoins, they are automatically minted into zerocoins.

The reason that two types of coins exist and every coin is not minted into a zerocoin, despite the fact they are the same currency (Veil), is simply because there is a computational cost to minting and spending zerocoins. However the average user does not need to worry about this, as they will ultimately see one balance.