SmashCash

SmashCash

About SmashCash

SmashCash uses and adopts zk-SNARKs , a novel form of zero-knowledge cryptography. The strong privacy guarantee of SmashCash is derived from the fact that shielded transactions in SmashCash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs.

 

What is zk-SNARK?

The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain/information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier.

“Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is.

In a zero-knowledge “Proof of Knowledge” the prover can convince the verifier not only that the number exists, but that they in fact know such a number – again, without revealing any information about the number.

“Succinct” zero-knowledge proofs can be verified within a few milliseconds, with a proof length of only a few hundred bytes even for statements about programs that are very large.

 

What is SmashCash?

SmashCash is First platform in the world to support Private & Anonymous FTM, ONE, MOVR,HECO,ADA, XRP, DOT, WBTC, USDC & Arbitrum. Also supports ETH, AVAX, DAI, MATIC & USDT.

SmashCash Features

FULLY OPEN SOURCE
All the source code, circuits and on-chain data of Smash is open source.

SMASH CASH IS UNSTOPPABLE
No admins or developers can shut down the application. Completely decentralized.

ZK-SNARKS SECURITY
zkSNARKs has 1114 contributions for Trusted setup ceremony , as long as at least 1 contribution is honest, the zkSNARK keys are secure.

COMMUNITY EFFORT
Smash Cash platform is developed based on awesome open source research by Algorand and Zcash team with the help of ethereum ADA, Plokadot and Binance community.

FIXED PARAMETERS
Protocol parameters and token distribution are final and programmed into smart contracts.

NO SINGLE POINT FAILURE
InterPlanetary File System (IPFS) hosting guarantees there is no single point failure of platform. Platform is live if atleast one of the IPFS server is live. In short no one can take down the platform.

USER INCENTIVED
Users are incentivized to stake their SMASH token to earn staking rewards. Rewards appear in your account periodically. Earn rewards with as little as $1 in crypto.

PROFIT SHARING
SMASH platform share the profit generated from fees in native tokens like ADA, BNB, DOT and ETH.

 

HOW IT WORKS

DEPOSIT

• A user generates a private key by depositing Ether, ADA, DOT, BNB or any of 15 supported tokens along with submitting a hash of the note to the Samash Cash smart contract.

WAIT

• Once the funds are deposited, the user is required to wait for some time so the privacy of the withdrawal is improved. Better privacy is directly proportional to the wait time.

WITHDRAW

• Now the user can submit a proof that they possess a valid key to one of the deposit notes and the smart contracts releases the funds to the recipient. Make sure you submit the note to the respective contract.

 

Tokenomics
Total Supply Smash 1 Billion SMASH
Listing Price $0.001
Public Sale 100 million 10%
Exchange Listing 100 Million 10%
Marketing and Promotion 270 Million 27%
Research and Development 200 Million 20%
Staking rewards 200 Million 20%
Team and advisers 100 Million 10%
Floating Liquidity 25 Million 3%

Fee Distribution Structure

SmashCash users must keep 20,000 SMASH tokens in their wallet to collect 5% of the platform fees divided among tier1 holders. They can choose one token to receive their incentives.
The Customers who hold 100,000 SMASH tokens in their wallet will collect 15% of the platform fees, which is divided among holders.

 

For More Information:

WEBSITE: https://smashcash.io/
WHITEPAPER: https://smashcash.gitbook.io/whitepaper/
MEDIUM: https://medium.com/@smashcash
TWITTER: https://twitter.com/smashcashio
TELEGRAM: https://t.me/smashcashio

 

Author: 

Bitcointalk Username: Ramon Azeez
BitcoinTalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2855028
Telegram Username: https://t.me/AnanditoDwis
Wallet Address: 0xf5c3b37c005E0AdD82E42534fccb78c29a9F1B28