Introduction of V.Cash
Last updated
Last updated
V.Cash is a fully decentralized non-custodial protocol allowing private transactions in the crypto-space.
As a decentralized protocol, Anonverse smart contracts have been implemented within the Binance Smart Chain
blockchain which makes them immutable. They can neither be changed or tampered with. Therefore, nobody - including initial developers - can modify or shut them down. All governance and mining smart contracts are deployed by the community in a decentralized manner.
As a non-custodial protocol, users keep custody of their cryptocurrencies while operating V.Cash. Indeed, at each deposit, they are provided with the private key enabling the access to the deposited funds, which gives users complete control over their assets.
V.Cash improves transaction privacy by breaking the on-chain link between source and destination addresses. It uses a smart contract that accepts BNB & other tokens deposits from one address and enable their withdrawal from a different address.
To preserve privacy, few good practices are in order, such as the use of a relayer for gas payments to withdraw funds towards an address with no pre-existing balance.
Codes behind V.Cash functioning - smart contacts, circuits & toolchain - are fully open sourced. Working as a DAO (Decentralized Autonomous Organization), V.Cash governance and mining smart contracts are deployed by its community.
The protocol also functions with zk-SNARK, which enables zero-knowledge proofs allowing users to demonstrate possession of information without needing to reveal it. The use of this technology is based on open source research made by Zcash team with the help of Ethereum community.
User interface is hosted on IPFS (InterPlanetary File System) by the community, minimizing risks of data being deleted. Indeed, the interface will work as long as at least one user is hosting it.
