Lightening Money is utilizing cutting-edge know-how to unravel essential issues and to assist folks 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 Info
Lightening Money is getting loads of buzz within the DeFi ecosystem proper now. It emerged final month and it operates on the Binance Sensible Chain. Lightening Money was designed to extend privateness for DeFi protocols. Even supposing blockchain know-how is designed to be nameless, privateness remains to be a priority for a lot of blockchains as a result of public addresses in addition to transaction information is stored on public ledgers. Which means it’s doable for folks to find which public addresses maintain essentially the most cryptocurrency, which is a possible safety menace and a privateness situation.
Lightening Money solves privateness points and prevents front-running by the usage of “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. Subsequently, neither the general public addresses nor the transaction quantities are added to the blockchain ledger. ZKPs are used for different privateness protocols corresponding to Zcash.
How Does Lightening Money Work?
Lightening Money is extraordinarily enticing to any DeFi customers who wish 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 wish to make. A small price 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 Sensible Chain. Nonetheless, the corporate plans to place its $2 million into constructing out the protocol to be suitable with different DeFi blockchains.
Lightening Money has a built-in yield farming mechanism. This mechanism is designed to constantly generate excessive APYs whereas serving to to gasoline long-term development. So, Lightening Money just isn’t solely interesting to those that need elevated DeFI privateness, it is usually interesting to those that are searching for one other yield farming protocol.
Income 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 know-how to unravel essential issues and to assist folks 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. Changing into captured by progressive applied sciences, Julia turned captivated with exploring rising techs believing of their capability to remodel all spheres of our life.