Cyclone

Copy link
Share on X

Claim company
Report company

Description

Cyclone Protocol is a decentralized cross-chain privacy-preserving platform that utilizes zkSNARKs technology in conjunction with smart contracts to offer enhanced transaction privacy across multiple blockchain ecosystems, including IoTeX, Binance Smart Chain, Ethereum, and Polygon. Launched in 2021, Cyclone enables anonymous cryptocurrency transactions by decoupling the on-chain link between source and destination addresses. Users can deposit ETH, BNB, IOTX, and MATIC into Cyclone's pools to receive anonymized tokens, which can later be redeemed for the original currency while maintaining transaction privacy. By integrating liquidity and anonymity mining, Cyclone incentivizes participation with its native CYC tokens, essential for its decentralized governance. The protocol is inspired by tornado.cash but offers improved features such as multi-chain support and advanced privacy measures, positioning Cyclone as a leader in blockchain privacy solutions. Currently, CYC is actively traded across multiple markets, showcasing stability and interest in its economic model.

Socials

Similar companies

Cycle Network

Cycle Network is a BSC-based DEX in DeFi, offering swapping, staking, farming, low fees, and high speeds. It incentivizes liquidity provision and features community governance for platform decisions.

Tornado Cash

Non-custodial anonymous transactions on Ethereum with Tornado Cash.

Swirl Cash

Swirl Cash offers private transactions on BSC using zk-SNARKs for non-custodial, trustless anonymity. It integrates with DeFi on BSC for secure, private dApp engagements.

Cicada

Cicada is a blockchain project prioritizing privacy, with a native crypto for secure, anonymous transactions, fostering a community-driven, secure ecosystem.

Lightening Cash

Lightening Cash is a privacy-focused decentralized protocol on Binance Smart Chain using zk-SNARKs for anonymous BSC token transactions.

Morphose

Morphose: A non-custodial, decentralized privacy protocol for Ethereum & Binance Smart Chain, using mixer tech & zero-knowledge proofs for anonymous transactions. No KYC, fully trustless.

Cyclos

Cyclos is a concentrated liquidity AMM on Solana, optimizing DeFi with user-friendly interfaces, integration with key Solana projects, and support for SPL tokens, aiming to maximize capital efficiency and mitigate impermanent loss.

Typhoon Cash

New Protocol for Yield-Capable Private Transactions.

IcyCRO

IcyCRO is a top project in the Cosmos ecosystem since its launch in November 2021, offering validation and tokenization services through its ICY token.

Crypton

Crypton is an AI-powered trading platform offering 24/7 automated cryptocurrency trading, market analysis tools, and emphasizes security and privacy for both new and seasoned traders.

ZKCHAOS

Layer2-based anonymous transaction protocol with fair games, leveraging ZK-Rollup for scalability and privacy.

Zcash

Privacy-protecting digital currency

FAQ

What is Cyclone Protocol and its primary purpose?

Cyclone Protocol is a decentralized, cross-chain privacy-preserving system that uses zkSNARKs technology and smart contracts to ensure transactional anonymity on multiple blockchains such as IoTeX, Binance Smart Chain, Ethereum, and Polygon. The primary aim of Cyclone is to safeguard user privacy by breaking the on-chain link between source and destination addresses during transactions, making it more challenging to trace the flow of funds and ensuring user security and confidentiality.

How does Cyclone Protocol enhance transaction privacy?

Cyclone enhances transaction privacy by integrating zkSNARKs with smart contracts, allowing users to deposit their cryptocurrencies like ETH, BNB, IOTX, and MATIC into its pools. Users receive anonymized tokens in return, which can be redeemed for the original cryptocurrency, thereby obscuring the transaction's origin. This mechanism ensures that there is no direct on-chain link between the depositor and recipient addresses, effectively protecting user privacy across multiple blockchains.

What are the key features of Cyclone Protocol?

Key features of Cyclone Protocol include privacy-preserving transactions through zkSNARKs and smart contracts, multi-chain support including BNB Smart Chain, Ethereum, IoTeX, and Polygon, and breaking the connection between depositor and recipient addresses on-chain. Additionally, it offers decentralized governance through its CYC token, liquidity mining incentives, and enhanced privacy measures based on tornado.cash protocols, but with improvements such as supporting more blockchains and expanding anonymity sets.

How does Cyclone Protocol compare to other privacy solutions like tornado.cash?

Cyclone Protocol builds upon the privacy solutions of tornado.cash by offering multi-chain support, which includes Binance Smart Chain, Ethereum, IoTeX, and Polygon, expanding its reach beyond what tornado.cash provides. It also tackles limitations like the stagnation of anonymity set size and incorporates decentralized governance through the CYC token, which together with its economic incentives such as liquidity mining and anonymity mining, provides enhanced privacy solutions and user engagement.

What benefits do users receive by participating in Cyclone Protocol?

By participating in Cyclone Protocol, users benefit from enhanced transaction privacy across multiple blockchain networks, protecting the confidentiality of their financial activities. Furthermore, participants are incentivized through liquidity mining, where they earn CYC tokens for their involvement, contributing to the ecosystem's growth and receiving economic benefits. The decentralized governance model also allows users to have a say in protocol decisions, ensuring that the community's interests are represented.

What are common issues encountered with Cyclone Protocol, and how can they be addressed?

Some common issues with Cyclone Protocol may include unfamiliarity with zkSNARKs technology or uncertainty about how to deposit and withdraw anonymously. To address these, users should refer to Cyclone's comprehensive documentation and community support available on their official website and forums. Ensuring wallet compatibility with supported blockchains such as IoTeX, Binance Smart Chain, Ethereum, and Polygon is crucial for seamless transactions. For technical support, users can contact customer assistance provided by the Cyclone community and development team.

FAQ

Company is unclaimed. Do you work for or own this company?

Description

Socials

Tags