Phonon DAO PHONON Price N/A

Phonon is an open-source Layer 0 protocol that enables off-chain transfers of digital assets using secure hardware. Phonon lets you turn any cryptocurrency into P2P cash: with private, fast, & free transactions. With no node infrastructure required, Phonon serves as a unique new tool for blockchain scaling, privacy, and trustless cross-chain transactions. It is a peer-to-peer system that prevents double-spends through the use of unique hardware-derived cryptographic signatures. Secure hardware isn’t just limited to hardware wallets; compatible device categories also include SIM cards and smartcards which use the same kind of chip found in today’s credit cards. Phonon works with any blockchain, but the token and protocol governance framework is built on Ethereum.