Veil a project borne in August 2018 and jan 2019 already launched its mainet is set to disrupt the privacy sphere of the cryptocurrency Market, upon thorough research, I'll be letting you all in on the technologies behind the most secure, scalable and efficient privacy tokens
Dandelion protocol - developed in 2017 by giulia fanti alongside researchers at Carnegie Mellon, MIT and University of illinois, in a nut shell dandelion protocol helps make the ip address of the sender of a transaction untraceable, as Veil is project that is focusing on privacy, it only makes sense for the developers to adopt this protocol, in order to achieve this, Dandelion sends the transaction on a random path through a variable number of nodes before the transaction is diffused across the whole network. The random pathway is known as the stem phase of the protocol, as transactions relayed in the stage are shared only between one another, transmitting from one node to the next. The diffusion phase is known as the “fluff phase,” as the transaction is broadcasted to multiple nodes to be spread across the network (visually and in effect, both of these processes replicate a Dandelion’s anatomy, hence the terminology).
Zerocoin protocol - The Zerocoin protocol works by countering the ability of the Bitcoin blockchain to remember every transaction that has ever occurred. The Zerocoin protocol uses zero-knowledge proofs, which means that no data from your past transactions is linked to the coins. The only two people who ever know about the trade are the sender and receiver.
Privacy is almost impossible to achieve in the absence of this protocol. All transactions occur on the public blockchain, and all users have access to the data.
Users who want to keep their transactions anonymous can convert their non-anonymous Bitcoin into Zerocoin. This operation is called “minting”, which means burning out one or more digital coins together with all their history. This includes transactions and previous owners.
After you mint a coin, you receive mathematical proof of that coin, but without any details that specify which currency you’ve burnt out. This means you have a new, history-free coin that you can use to make purchases.
It’s the same cryptocurrency. Its value doesn’t change and any transaction you make with the Zerocoin occurs on the same blockchain. But the new coin has the additional characteristic that allows it to remain hidden through this series of mathematical tricks.
Ring confidential technology - this protocol is used by monero to offer privacy to its users, A ring signature is a type of digital signature in which a group of possible signers are merged together to produce a distinctive signature that can authorize a transaction.A Monero ring signature is composed of the actual signer, who is then combined with non-signers to form a ring. The actual signer and non-signers in this ring are all considered to be equal and valid. The actual signer is a one-time spend key that corresponds with an output being sent from the sender’s wallet. The non-signers are past transaction outputs that are drawn from the Monero blockchain. These past transaction outputs function as decoys in the ring signature transaction, by forming part of the inputs of a transaction. From the perspective of an outside party, all of the inputs appear equally likely to be the output being spent in a transaction.
The purpose of this technology is to help mask the origin of transaction by ensuring that all inputs are indistinguishable from one each other.