Typhoon — bringing private transactions to Binance Smart Chain

Typhoon — bringing privacy to Binance Smart Chain

Blockchains are designed to be public ledgers: Everyone can see everything that happens on those chains, that’s just how they work. It’s very easy to open bscscan.com, type in a wallet address and see what that wallet was up to:

  • Where that person sent funds recently
  • Which smart contracts he interacted with
  • Which apps they used
  • How much money they hold in any specific asset
  • …and much more!

The more information available online, the easier it is to create a profile on people based on their online activity with no way to really escape: Because even if you decide to send your funds to a new wallet, the connection to that new wallet is recorded publicly as well!

Where Typhoon steps in

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!

In more simple words

When depositing into Typhoon, a random piece of text will be generated. Whoever possesses the piece of text is eligible to withdraw the deposited funds to any address of their liking.

Since all transactions come and go to the Typhoon smart contract, it will all look the same to an observer and thus makes it no longer possible to deduce who actually sent what to whom! Neat!

Give us a try and tell us what you think!

Website: https://typhoon.network/

dApp: https://app.typhoon.network/

Telegram: https://t.me/typhoonnetwork

Twitter: https://twitter.com/TyphoonCrypto




Enabling private transactions on top of Binance Smart Chain — https://typhoon.network/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

SpaceSeven: Discovering Tokenized Digital Art

Creator Introduces A Lucrative APY For Staking

Fundamental Analysis of Cryptocurrencies: Everything You Need to Know


Overview of the current crowdloans on Polkadot. The 2nd batch of parachain auctions.

What is AnotherSwap?


Review of NFTs in 2021

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


Enabling private transactions on top of Binance Smart Chain — https://typhoon.network/

More from Medium

Fireside Chat #11–2022/01/12

Participating in the Anomus IDO on Scaleswap — A Complete “How-To” Guide.

Relishing The BetSwirl Journey So Far in 2022

HECO AMA Series Recap — WeStarter