Veil to Fork and Change Their Mining Reward Distribution

November 8, 2019 | By | Reply | 47 Readers More

The VEIL project, a privacy-oriented cryptocurrency, has announced their plans for an upcoming fork to change the way PoW mining works in an upcoming fork. The project launched earlier this year has started with X16RT as a PoW algorithm for mining making 50% of the total block reward and the other 50% is for users staking coins in their wallet. The 50% reward for miners will continue, however it will be split in three different parts in the future with 3 different algorithms in play. Veil miners will have the option to chose to mine using ProgPoW (Programmatic Proof-of-Work) for GPUs that will account for 35% of those 50%, RandomX for CPU mining will represent 10% and the remaining 5% for miners will go to SHA-256D ASIC miners. It is interesting change as prior to announcing these plans the project was anti-ASIC, but now it seems that it is planning to attract all kinds of miners…

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