Veil Technical Specs
| Development Data | |
|---|---|
| Genesis block date | Jan 1, 2019 |
| Code repository | https://github.com/Veil-Project/veil |
| Codebase | Bitcoin Core version 0.17.1 |
| Supported OSs | Windows, macOS, Linux, paper wallet |
| Source model | Open Source |
| License | MIT License |
| Website | https://veil-project.com/ |
| Explorer | https://explorer.veil-project.com/ |
| Blockchain Data | |
|---|---|
| Concensus mechanism | Hybrid Proof-of-Work and Proof-of-Stake model. |
| Proof-of-Work | SHA-256D (ASICs), ProgPow (GPU), RandomX (CPU) |
| Proof-of-Stake | De-anonymized Zerocoin. (Will be anonymous RingCT-based in forthcoming V1.2) |
| Block time | 60 seconds, retargeting every block. |
| Block schedule | Block rewards will stop in approximately 2037, when a max coin supply of 300 million VEIL is reached. After this hard cap is reached, network fees will continue to incentivize the network. |
| Transaction fees | Variable based on data size. |
| Privacy technology | Veil uses mandatory RingCT+stealth addresses to anonymize the Basecoin layer. |
| Dandelion | Veil will use multiple stems, rather than one, to increase the level of IP anonymity and privacy. Inspired by BIP 156. |
| Zerocoin De-Anonymized | |
|---|---|
| Zerocoin mint fee | Fixed to start, then variable at a later date. |
| Full-time autominting | All available balances are automatically converted to Zerocoin Veil with certain exceptions. Exceptions may be special use cases for exchanges and other services as well as a designated Basecoin address for each user where Basecoin Veil will not be automatically converted into Zerocoin Veil. |
| Multi-transaction Zerocoin spending | This allows a transaction to be spread over multiple blocks. Since Zerocoin spending is computationally expensive, only up to 20 Zerocoin denominations can be sent at once in a single transaction. If 21 or more Zerocoin denominations are being sent in one transaction, it is automatically split into two or more transactions by the Multi-Transaction Zerocoin spend feature. |
| Bulletproofs | Without Bulletproofs, Zerocoin spend sizes are over 20 kilobytes, but with the implementation of Bulletproofs, we now have the Zerocoin spend sizes down to ~11.3 kilobytes. This makes for cheaper transactions. With Veil Labs, a major goal is to reduce this figure even further. |
| Miscellaneous | |
|---|---|
| Wallet backup | The Zerocoin deterministic wallet will be integrated with Bitcoin Improvement Proposals 39 and 44 (BIP 39/44). The seed for both the Zerocoin wallet and Basecoin wallet will be the same, requiring users to only backup a single seed. |