This simplifies secure, limited-value, and anonymous stablecoin transfers for everyday users. The application accepts, a stable token derived from USDC. Once is deposited in the zk app, pool participants can transfer any amount of amongst themselves in a private, secure manner. The shielded pool uses zkproofs to limit public data exposure. When a transfer is initiated, the amount and recipient is never disclosed or published. Transactions are routed through a relayer, abstracting gas fees while providing an efficient transfer environment. zk is deployed on Polygon to utilize existing infrastructure (Uniswap v3, Aave, and native USDC), prioritize scalability, and support their commitment to zk-based solutions.
BOB Basic Points Table
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Who Are The Founders of BOB
This is a zk-based application for limited-value stablecoin transfers. It accepts stablecoins for deposit, and once deposited in the zk app, they can be transferred anonymously between participants. They can then be withdrawn from the application to an EOA (externally owned address) preserving anonymity of the transfer amounts and participants. This is the name of the stable token optimized for the protocol. They can be swapped for the equivalent amount of USDC (minus standard swap fees). They can then be used in conjunction with the application to conduct small, anonymous transactions between users.
This uses zero-knowledge proofs to verify an action has been completed (deposit, transfer, withdrawal) without providing any other identifying details about that action. Zkproofs confirm that the chain state has changed without divulging information about amounts, initiators, or receivers of transactions. Learn more about zero-knowledge proofs. A company account is linked to a user via a private key.
The private key is used to identify the account balance, generate proofs to transfer tokens, and withdraw tokens from the pool. This company accounts are created either from the private key of an existing wallet or from a stand-alone seed phrase. Users can decide how they would like to create an account following a step-by-step process.
Why Choose BOB?
This stands on the pillars of privacy, anti-censorship, and decentralization and seeks to prevent misuse of the protocol through built-in compliance measures. By enacting these measures, the protocol is designed to function on a neutral base layer. This means that participants on the base layer (validators, sequencers, relayers etc) can operate normally without taking any additional measures (like censoring sanctioned addresses) to properly write and order on-chain transactions.
The relayer acts as an intermediary between the user and the smart contracts. Transactions are sent to the relayer which collects transactions, calculates Merkle tree proofs, orders them in a queue, then sends this information to the contract. The relayer cannot see transaction amounts and preserves anonymity by abstracting gas fees for operations. Relayer interaction occurs via a REST API.
Where Can You Buy BOB (BOB)?
Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Uniswap (V3-Polygon), As It Has The Highest USDC/BOB.e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include USDC/BOB And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.
BOB Supported Wallet
Several Browser And Mobile App Based Wallets Support BOB. Here Is Example Of Wallet Which Support BOB – Trust Wallet For Hardware Ledger Nano.
FAQ Of BOB
Where I Can Find BOB Whitepaper?
You Can Find BOB Whitepaper By Clicking Here.
Where I Can Buy/Sell Balancer Token?
You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – Uniswap (V3-Polygon).
What is Circulating Supply Of Balancer Token?
Circulating Supply Of Balancer Token Is N/A.