Typhoon Network - Private transactions, on Binance Smart Chain
Typhoon is a dApp built on Binance Smart Chain with the goal to establish a privacy-centric system on BSC and bring it to mass adoption. In a time where everyone leaves a trail of information online behind, it is becoming harder and harder to truly stay anonymous. Due to the public nature of blockchains, this became even more difficult as everything done is permanently recorded and viewable by everyone. Typhoon solves this problem by utilizing zkSNARK and zero-knowledge technology to enable private transactions on an otherwise public ledger
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Typhoon is a decentralized, fully on-chain implemented, project to enable private transactions between 2 wallets. It does this cleverly by somewhat taking on the role of proxy, but on cryptography steroids. Typhoon utilizes zkSNARK, a novel form of zero-knowledge cryptography. zkSNARK makes it possible for users to prove possession of information, without actually revealing that information. When depositing money into Typhoon, the user generates a random secret and submits a part of it (a hash) along with the assets into the smart contract. In order to then withdraw that deposit again, the user has to provide cryptographic proof that he is indeed the owner of a secret to an unspent deposit. All without revealing the secret he holds to the public blockchain, thanks to zkSNARK!