The Binance Smart Chain is growing exponentially, sometimes even surpassing the Ethereum network in number of transactions. All this popularity also attracts many DEVs who are now trying to recreate popular Ethereum dApps on the Binance Smart Chain. Among them is a brand new project called Swirl Cash, designed for those who would like to remain anonymous while making transfers or swaps on BSC. Swirl Cash is a fork of Tornado Cash, one of the most popular and widely used privacy apps on Ethereum! Let’s get a better understanding of how it works and why to use it!
Swirl Cash – Anonymity on the Binance Smart Chain
Since this is a fork of an existing product, the operation is identical: you send your BNB to the Swirl Cash smart contract and wait for BNB to return to an address of your choice. This exchange makes your BNB anonymous and no one will be able to tell where they end up. The contract is of course verified by various services such as BSCSCAN, so the security of the project is guaranteed. Swirl Cash has only been active for a few days but has already been used by 1365 people who have deposited 7921 BNB in 3034 deposits. These are already important numbers that show us how much people care about anonymity in the crypto world.
To better understand, the process of Swirl Cash is as follows:
1) You deposit BNB or other cryptocurrencies with anonymity; 2) The project uses several methods to make your deposit anonymous; 3) By using zk-SNARKs, the protocol is capable of making you deposit a precise number of BNB within the contract; 4) After the deposit you will be able to withdraw to a different address and in no way connected to your main wallet (from where you made the deposit); 5) The whole process is non-custodial, so your funds will never be held by the Swirl Cash team; 6) No one will ever be able to close or modify the smart contract as it is a public code already verified by several services; 7) Now you can complete the withdrawal; 8) Process finished! In short, a few clicks that will make any BNB or BEP20 tokens you send completely anonymous!
The Swirl Cash team also recommends using products like VPNs to change your IP address and clearing your browser cache when making deposits to the protocol. Obviously, the web is a really big place where it is almost impossible to remain anonymous, but by using these tips you will be almost completely anonymous!
Swirl Token – the token of Swirl Cash
Like TORN from Tornado Cash, Swirl Cash also has its own token, called SWIRL. It is a BEP20 token that runs on Binance Smart Chain and has a maximum supply of 5 million tokens. The team only has 250,000 of these tokens and a few days ago locked them to make it clear that the project is not a pump and dump but a long-term project. At the moment the price is less than $5, with a fully diluted market cap of less than $25 million. The working capital is a little more than half, so there is a lot of room for growth, especially considering TORN’s market cap of $1.5 billion (fully diluted).