Veil is creating an encrypted equivalent of the cash economy. The market cap is $1,158,914 and the 24h volume is $1,267.
Veil blockchain consensus is achieved via Proof of Stake + Proof of Work. Investors can leverage their crypto via staking. Currently there is 1 option to earn passive income and staking rewards with your Veil investment as outlined below.
- How to stake VEIL??
To stake VEIL coins it is recommended to run the Veil Core wallet with an entire copy of the blockchain on your Computer or a Virtual Private Server (VPS).
Inside the wallet make sure to unlock your wallet for staking only and allow automatic minting of your coins to zerocoins.
To get the highest possible rewards, please make sure to stay online 24/7 and keep the wallet unlocked for staking only.
- How much can i earn staking VEIL?
The individual VEIL rewards depend on the relevant blockchain metrics: Block Reward, PoS Block Time and Total Staked %.
Every block one staker is randomly selected whereas 1 staked coin counts as one “lottery ticket”. The difficulty adjustments regulates the amount of PoW and PoS blocks, whereas Proof of Stake is always the main underlying consensus. The selected staker has the right to create a new block and broadcast it to the network. He then receives the block reward in return.
The Block Reward is currently 80 VEIL, whereas 40 are distributed to either the staker or miner, 8 to the Lab, 24 to the Budget and 8 are burned immediately.
The next Block Reward decrease by 20% will occur in Januray 2021 and further every year thereafter.
In our Staking Calculator you can play with the Total Staked % to make reward assumptions under certain network conditions.
- What are the requirements to stake VEIL?
Basecoin, Stealth (CT), or RingCT coins must be minted into zerocoins in order to stake. Once they are converted to zerocoins then it takes 1000 blocks before they are eligible to stake.
The recommended hardware spec as below:
- High-end consumer CPU
- SSD or NVMe storage drive
- Significant available RAM
- High-speed internet
- Very low latency
- Wallet open, unlocked, and staking active 24/7
- Is there any risk to stake VEIL?
Staking VEIL is safe as long you protect your private keys. There is no risk of slashing.