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. |
| User-Controlled Coin Minting | Autominting has been turned off to avoid user confusion with the different types of Veil coins. Now, users must manually mint their desired coins. Autominting can be turned back on if needed. When enabled, 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. |