| General information | |
|---|---|
| Global rank: | 3107 |
| Name: |
Cyclone Protocol |
| Symbol: | CYC |
| Current coin price (XAG): | 0.033 XAG |
| Last hour: | arrow_downward-2.33 % |
| Last 24 hours: | arrow_downward-3.00 % |
| Last 7 days: | -4.31 %trending_down |
| Capitalisation (XAG): | 859.25 XAG |
| Volume 24h (XAG): | 0.682 XAG |
| Available supply: | 26 282.00 CYC |
| Total coin supply: | -1 CYC |
| Start date: | 0000-00-00 |
Cyclone Protocol/Silver (troy ounce) (CYC/XAG) price chart
Cyclone Protocol/Silver (troy ounce) (CYC/XAG) capitalisation and volume charts
Cyclone is built to address the privacy problems in the blockchain and aims to provide enhanced economic incentives. Cyclone is a cross-chain, non-custodial, universal privacy-preserving protocol with the decentralized governance.
Cyclone applies zkSNARKs to enable transactional privacy for all DeFi components by breaking the on-chain link between depositor and recipient addresses. It uses a smart contract that accepts coins/tokens deposits, which can be withdrawn by a different address. Whenever an asset is withdrawn from Cyclone, there is no way to link the withdrawal to the deposit for absolute privacy.
While Cyclone's zkSNARKs part is based on the attested implementation of tornado.cash, it offers unique values in supporting cross-chain and being the universal privacy-preserving layer for almost all DeFi components with the decentralized governance by CYC holders.
Cyclone Protocol is governed in a decentralized way. The governance DAO lives on IoTeX blockchain while each anonymity pools live on different blockchains connected to IoTeX blockchain via bridges.