INTRODUCTION
Smashcash is an online fiat-to-crypto payment platform that is working to improve transaction privacy by providing better transaction separation. It utilizes a smart contract that accepts multiple currencies, including BNB, ADA, DOT, XRP, USDT, ETH and Matic. This means that if there is ever a need to change the amount of the transaction, the recipient does not need to know the new destination address. Because of this, the address doesn't need to be linked to the recipient. Because of this, the address doesn't need to be linked to the recipient. This is beneficial for users who want to protect their privacy.
The Smash Network enables cryptocurrency users to pay for transaction fees with a decentralized, cash proof crypto token that is accepted by a wide range of retail and online merchants as a form of payment as well as a cash substitute.
Contrary to conventional thinking, the network is accessible to anyone. Even if they do not own or use any cryptocurrency or tokens.
No token ownership, cryptocurrency knowledge or technical know-how required.
The network is designed to adapt and is therefore accessibility and compatibility with all future and present blockchain and tokens, including those that will be created in the future.
WOKKING PRINCIPLE
When a user deposits a tokens to be used as the currency on the Smachcash platform, it secures a public key by generating a hash which is submitted along with any of the supported tokens.
Funds cannot be withdrawn until an allotted waiting period has elapsed: users can choose how long they'd like to wait between one and three days. Longer wait times allow for enhanced privacy, but come at an increased withdrawal fee.
Before any transacting can happen at all, the system validates whether funds are available in the user’s account to ensure he has enough money to withdraw before any transactions can go through. User privacy is of utmost importance so two factors authentication is used wherever possible - time and distance ratio increases as a factor of user's preference - it shows how much private a user wants his withdrawal session to be after which the actual transfer happens.
FEATURES
- No single point failure
- Fixed parameters
- Fully open source
- User incentived
- Profit sharing
- ZK-Snarks security
BENEFITS
Smash Cash allows you to keep your finances under wraps and keep them private, which is a very important trait in a business environment. By separating the on-chain link between recipient and destination addresses, Smash Cash helps perpetuate digital privacy that everyone needs.
CONCLUSION
It is hard to achieve privacy in a public blockchain, but privacy is still a very important aspect of a successful cryptocurrency. The challenge is to ensure privacy without compromising security and being cost-effective. This is the main goal of the Smash Cash private transaction solution. We hope that you have learned a bit more about privacy, and that this has inspired you to learn more about the different privacy projects out there! If you want to learn about more privacy projects, please check out our privacy section on our blog, or contact us to learn more about our private transaction solutions.
PROJECT LINKS
Website: https://smashcash.io/
Medium: https://medium.com/@smashcash
Telegram: https://t.me/smashcashio
Twitter: https://twitter.com/smashcashio
Github: https://github.com/smashcash
AUTHOR
Bitcointalk Username: Helpcruel
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768343
Proof of Authentication: https://bitcointalk.org/index.php?topic=5373364.msg58541312#msg58541312
BSC Wallet Address:
0x449449B9801b46e4FA5222f59645896327a67d90