Lightening Money is utilizing cutting-edge expertise to unravel vital issues and to assist individuals generate earnings in DeFi.
Vietnamese hedge fund HC Ventures has introduced that they’re spending $2 million to construct Lightening Money, an thrilling privateness protocol constructed for DeFi transactions, on Binance SmartChain. Ryan Nguyen, HC Ventures CEO, can also be CEO of Lightening Money.
Lightening Money Key Data
Lightening Money is getting numerous buzz within the DeFi ecosystem proper now. It emerged final month and it operates on the Binance Good Chain. Lightening Money was designed to extend privateness for DeFi protocols. Although blockchain expertise is designed to be nameless, privateness continues to be a priority for a lot of blockchains as a result of public addresses in addition to transaction knowledge is stored on public ledgers. Because of this it’s potential for individuals to find which public addresses maintain probably the most cryptocurrency, which is a possible safety risk and a privateness concern.
Lightening Money solves privateness points and prevents front-running by means of using “zero-knowledge proofs.” Zero-knowledge proofs are a privateness layer that exists between two nodes. With ZKPs, the information stays encrypted, however the transaction can nonetheless be validated. Due to this fact, neither the general public addresses nor the transaction quantities are added to the blockchain ledger. ZKPs are used for different privateness protocols similar to Zcash.
How Does Lightening Money Work?
Lightening Money is extraordinarily engaging to any DeFi customers who need to make nameless DeFi transactions. In an effort to use the Lightening Money protocol to make nameless transactions simply need to the Lightening Money app and select which transactions they need to make. A small payment must be paid per transaction within the type of LIC tokens. LIC is the native cryptocurrency of the Lightening Money app.
Presently Lightening Money solely helps DeFi customers who use the Binance Good Chain. Nevertheless, the corporate plans to place its $2 million into constructing out the protocol to be appropriate with different DeFi blockchains.
Lightening Money has a built-in yield farming mechanism. This mechanism is designed to persistently generate excessive APYs whereas serving to to gas long-term progress. So, Lightening Money shouldn’t be solely interesting to those that need elevated DeFI privateness, additionally it is interesting to those that are in search of one other yield farming protocol.
Earnings that Lightening Money generates are put into an LIC treasury. These earnings function a reward for farmers and are used because the LIC swimming pools on pancake swap. Lightening Money is utilizing cutting-edge expertise to unravel vital issues and to assist individuals generate earnings in DeFi. It’s positively a protocol to maintain your eye on.
Having obtained a diploma in Intercultural Communication, Julia continued her research taking a Grasp’s diploma in Economics and Administration. Turning into captured by revolutionary applied sciences, Julia turned obsessed with exploring rising techs believing of their skill to remodel all spheres of our life.