Veil

FAQ's

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.
What is Veil?

Veil is a cryptocurrency project working to facilitate the shift from physical to digital cash economies, making privacy the most convenient choice through both cutting-edge technology and a quality user experience. Fair distribution and broad decentralization are supported through a hybrid Proof-of-Stake and Proof-of-Work consensus system, including support for the RandomX and ProgPoW mining algorithms. Through RingCT, stealth addresses, Dandelion, and compulsory privacy, Veil provides coin fungibility and privacy.

How was Veil launched?

The Veil Project was conceived in early 2018. The motivation for the project was recognition of the need for a currency that provided full-time privacy without compromising strength of anonymity.

The team was seed funded by excess of one million USD.

The project’s mainnet was launched in January of 2019 with no premine.

Who is the team behind Veil?

Veil was introduced by James Burden, a recognized industry expert in crypto-privacy and holding a track record of founding and leading successful cryptocurrency projects like PIVX.

The team is formed by leading blockchain developers, cryptographers, mathematicions, user experience experts and operations personnel.