Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.
Lightening Cash is using cutting-edge technology to solve important problems and to help people generate profits in DeFi.
Vietnamese hedge fund HC Ventures has announced that they are spending $2 million to build Lightening Cash, an exciting privacy protocol built for DeFi transactions, on Binance SmartChain. Ryan Nguyen, HC Ventures CEO, is also CEO of Lightening Cash.
Lightening Cash Key Information
Lightening Cash is getting a lot of buzz in the DeFi ecosystem right now. It emerged last month and it operates on the Binance Smart Chain. Lightening Cash was designed to increase privacy for DeFi protocols. Despite the fact that blockchain technology is designed to be anonymous, privacy is still a concern for many blockchains because public addresses as well as transaction data is kept on public ledgers. This means that it is possible for people to discover which public addresses hold the most cryptocurrency, which is a potential security threat and a privacy issue.
Lightening Cash solves privacy issues and prevents front-running through the use of “zero-knowledge proofs.” Zero-knowledge proofs are a privacy layer that exists between two nodes. With ZKPs, the data remains encrypted, but the transaction can still be validated. Therefore, neither the public addresses nor the transaction amounts are added to the blockchain ledger. ZKPs are used for other privacy protocols such as Zcash.
How Does Lightening Cash Work?
Lightening Cash is extremely attractive to any DeFi users who want to make anonymous DeFi transactions. In order to use the Lightening Cash protocol to make anonymous transactions just have to the Lightening Cash app and choose which transactions they want to make. A small fee has to be paid per transaction in the form of LIC tokens. LIC is the native cryptocurrency of the Lightening Cash app.
Currently Lightening Cash only supports DeFi users who use the Binance Smart Chain. However, the company plans to put its $2 million into building out the protocol to be compatible with other DeFi blockchains.
Lightening Cash has a built-in yield farming mechanism. This mechanism is designed to consistently generate high APYs while helping to fuel long-term growth. So, Lightening Cash is not only appealing to those who want increased DeFI privacy, it is also appealing to those who are seeking another yield farming protocol.
Profits that Lightening Cash generates are put into an LIC treasury. These profits serve as a reward for farmers and are used as the LIC pools on pancake swap. Lightening Cash is using cutting-edge technology to solve important problems and to help people generate profits in DeFi. It is definitely a protocol to keep your eye on.