Spinada Cash

SPIN Votes5 Today0
BSCContract Address
Marketcap $394129
Price $0.01383
Launch 07 Dec 2021
Spinada.cash is a fully decentralized protocol for private transactions on Cardano. SpinADA breaks the on-chain link between senders and receivers of Cardano native tokens on the blockchain. This gives complete privacy and security in a completely decentralized manner. It uses a Zero Knowledge proof protocol known as zk-SNARK , developed by the good fellows at Zcash, to ensure secure anonymous transactions of Cardano assets on the blockchain. It uses a Smart contract which accepts Cardano tokens and then allows anyone with a proof of knowledge to withdraw those tokens through the use of Cryptographic key notes. When a sender submits a transaction, he receives a Key Note and a corresponding hash is received by the Smart contract. When a withdrawer furnishes the right Key note, it is matched with the hash to output the corresponding submitted tokens.
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Sender submits a transaction which goes to a relayer which in turn submits it to a smart contract. The relayer is chosen in a completely decentralized manner through staking of $SPIN tokens. Sender receives a random key note and a hash of the key note is
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