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Author Topic: Privacy on the blockchain....a necessity?  (Read 2325 times)

Simi

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Privacy on the blockchain....a necessity?
« on: April 13, 2019, 04:44:49 PM »
Warning: Thread locked for SPAM

It looks like VEIL is running a spam campaign in a number of forums, including us. Those posts are violating a number of rules, not to mention, the way chosen to advertise the project it is at least objectionable. Users caught violating the rules are getting banned.

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Ever since the creation of bitcoin ,the blockchain technology has grown exponentially.
Unfortunately , the adoption rate is never encouraging and this could be attributed to the security challenges that seems  to be threatening the continuous growth of the blockchain technology.
Security issues in this context is the traceability of users transaction history.
This issue has become a concern to potential institutional investors who would want to invest into cryptocurrency but are reluctant due to the issue of transaction history being viewable by just anyone .

Hackers seem to be having a field day stealing users funds because they can trace transactions to senders and so are in the position to know what wallet has good amount of funds or not.
I do not think I would be wrong if I say that the structure of the blockchain is indirectly egging hackers on.

 I think that people should be given the right over their transactions data on the blockchain.
The current structure of the blockchain today makes it easy for people to view ,monitor anothers transactions history .

In the quest to solve this issue, some projects came up with technologies , unfortunately these technologies didn't provide a holistic solution to the issues.
This is where veil project comes into the mix.

Veil is committed to providing a hollistic solution by improving upon the solution of other projects by combining cutting edge technologies such as the Dandelion technology, bullet proof technology , version 0.17.1  together with the advanced cryptography based privacy protocol zerocoin etc.


« Last Edit: May 20, 2019, 01:35:22 PM by secco »

khufuking

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Re: Privacy on the blockchain....a necessity?
« Reply #1 on: April 13, 2019, 10:09:40 PM »
I will only comment on one point. Who said that knowing how much any address have will help the hackers! There is a lot of known wallets that contain millions of dollar and these wallets have no activity for a very long time and yet no one was able to come close to them which clearly indicates that knowing the wallets amount of money have zero effect on hacking it. 

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Re: Privacy on the blockchain....a necessity?
« Reply #2 on: April 14, 2019, 11:40:09 AM »
 Brother, you are ok i agree with the point you said. Hacking refers to hacking privacy. And they could know about wallet.

jenica

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Re: Privacy on the blockchain....a necessity?
« Reply #3 on: April 15, 2019, 04:32:06 AM »
Wallet security is really needed to avoid asset hacking. Because a lot of hackers are roaming the virtual world

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Midz

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Re: Privacy on the blockchain....a necessity?
« Reply #4 on: April 15, 2019, 06:43:35 AM »
Wallet security is really needed to avoid asset hacking. Because a lot of hackers are roaming the virtual world

I agree, we must choose strong security for the wallet so that its security is guaranteed even if not completely.

Synvc

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Re: Privacy on the blockchain....a necessity?
« Reply #5 on: April 15, 2019, 03:19:30 PM »
Brother, you are ok i agree with the point you said. Hacking refers to hacking privacy. And they could know about wallet.

That is what allows to be a warning for all of us to be careful in cryptocurrency.

rituvohra01

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Re: Privacy on the blockchain....a necessity?
« Reply #6 on: April 15, 2019, 03:32:10 PM »
Of course safing from the hackers privacy on blockchain is necessity. So be careful about your privacy.

Simi

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Re: Privacy on the blockchain....a necessity?
« Reply #7 on: April 17, 2019, 08:07:16 PM »
One think I like about the blockchain is that in the bid to make it function maximally u the aim of bringing values down to users ,which in turn would encourage participation, new projects keep coming up with the view to improving upon the previous solutions proposed by these projects inorder to achieve the desired altimate result of mainstream adoption.
One of this challenges that seems to be hindering adoption rate is the security of the blockchain...which some other projects proposed to solve using some technologies.
Unfortunately , there are inherent weaknesses of some of the technologies .
Despite the commitment of these projects to re-create a blockchain where transactions would be highly anonymous , untraced and unlinked to the initiator(sender) of the transaction, there is still room for improvement of these technologies to achieve 100% annonymity of transactions the blockchain.
Introducing veil, a privacy coin.
You may be wondering what veil has got to offer .
Veil would make privacy without compromise a reality. This it tend to achieve using some cutting edge technologies, some of which are zercoin protocol , dandelion and bulletproofs technology which is adopted to help reduce transaction sizes.  the Veil network will implement a Proof-of-Stake (PoS) consensus algorithm to ensure maximum energy effectiveness and decentralization..
The zerocoin protocol, bulletproof ,dandelion etc combined would give the veil project an edge over other privacy coins.

termion

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Re: Privacy on the blockchain....a necessity?
« Reply #8 on: April 20, 2019, 12:28:58 AM »
The privacy of the blockchain guarantees individual freedom.  Now society is fighting for freedom - and private coins will give this freedom.  Private coins - a new trend.

X-ray

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Re: Privacy on the blockchain....a necessity?
« Reply #9 on: April 23, 2019, 05:47:11 PM »
It's either, sometimes there's a coin that really want to be compliant with the government law in exchanges of users' privacy meanwhile coin like veil is trying its hardest to deliver us the true privacy to the blockchain users. It's their quirk and need to be appreciated nonetheless.
There's already some cases where hacker lurking to our address in a more transparent blockchain which unfortunately dominate most of the crypto market.
But veil is trying hard to be anonymous currency in order to deliver us the true privacy of blockchain to the fullest.

kingsupremacy10

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Re: Privacy on the blockchain....a necessity?
« Reply #10 on: April 23, 2019, 07:17:15 PM »
In a simple term Privacy is a serious matter that is often taken lightly, mainly because it is misinterpreted. Just because we don’t have “anything to hide,” that does not mean we do not deserve privacy, it not makes us a criminal , before hacker can attack he or she would have scale the target whether actually worth it or not and that is only possible If the fund or transactions are public. Reason I have full support for project like veil monero and others who promised privacy
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Wendy

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Re: Privacy on the blockchain....a necessity?
« Reply #11 on: April 23, 2019, 07:58:22 PM »
There should be 100% privacy and not less. Otherwise what is the sense to choose Blockchain. I want my transactions be absolutely confidential.

termion

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Re: Privacy on the blockchain....a necessity?
« Reply #12 on: April 23, 2019, 10:55:54 PM »
True privacy and security can only be ensured by private coins - for example, Securypto.  Now the trend is beginning on private coins - and it is important not to miss this trend.

Chudidonas

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Re: Privacy on the blockchain....a necessity?
« Reply #13 on: April 27, 2019, 10:15:45 PM »
When I learnt and joined cryptocurrency, I thought it's enshrined on core privacy values until I discovered that one can actually trace transactions, history and even wallet holding just by keying in your wallet address on ethplorer.io. This major lapse was a big disadvantage on major cryptocurrencies like bitcoin and ethereum till privacy coins entered the fray but none completely solves the problem totally till Veil launched. I will be test running the platform myself to be assured of the Uncompromised privacy it promises and I hope my expectations will be met

tbossmitche

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Re: Privacy on the blockchain....a necessity?
« Reply #14 on: April 30, 2019, 07:05:44 PM »
There should be 100% privacy and not less. Otherwise what is the sense to choose Blockchain. I want my transactions be absolutely confidential.

You really did make a valid point. The major strategies in the marketing of blockchain technology to the world were the announcement of efficient privacy and anonymity features. However, we have learned so much about blockchain technology that we now understand that our transactions are not as private as they are portrayed to be. The introduction of privacy coins have enabled us to see privacy from a different perspective within the cryptosphere.

Finally, I have to admit that Veil project seems like one to look out for. The trend of market capitalization over the past month further illustrates this fact.

 

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