Good day everyone, I have brought to us today a new and incredible cryptocurrency platform that is already doing amazingly well on the coin market cap due to its unique features and potential. This project is no other one but VEIL.
Aside from the impressive features it promises to bring onboard, VEIL Technology, by virtue of its name, “VEIL” hints on the project’s quest to alter the current privacy options in digital assets. To enhance the privacy focus of cryptocurrencies, VEIL Technologies combines relevant privacy technologies that will make crypto coins truly private.
THE HYBRID CONSENSUS MECHANISM OF VEIL
The consensus system is one of the factors that propel the success of every crypto project. In its case, Veil Technology, in its bid to bring revolution and full-scale privacy to crypto coins, opted for a hybrid consensus mechanism.
Featuring the productive Proof-of-Stake (PoS) and Proof-of-Work (PoW) consensus mechanisms, the project aims at providing full-scale security and boosting mining activities on its network. The PoS consensus, in particular, triggers a reward mechanism that tips participants with the Veil coin after staking in the mining pool. On its part, the PoW consensus mechanism makes use of the ASIC-Resistant X16RT hashing algorithm to secure the platform. It also ensures an even distribution of coins.
VEIL is on Coin Market Cap
If I were you, I will like to make more research about this project and key into it this is one of its kind so far in the history of cryptocurrency projects, in fact, the price of the coin has been growing since it got listed on the coin market cap.