What is Tornado Cash? Tornado Cash is a platform that helps users transfer money anonymously. The project is built and developed on Ethereum. Anonymity or in other words information security is a niche market that many Blockchains are focusing on developing such as Zcash, Aztec, Mina, Zksync, Aleo,…
Governments are stepping in to manage the development of Blockchain. In particular, requiring users to verify their identity (KYC) has unintentionally lost user privacy. Therefore, Private Blockchain was born to solve this problem.
So what is Tornado Cash? Let’s find out in this article!
To understand more about Private Blockchain you can read some of the following articles:
What is Tornado Cash?
Tornado Cash is a platform that helps users transfer money anonymously. The project is built and developed on Ethereum. There are currently many networks integrated into the platform such as Ethereum, BNB Chain, Arbitrum, Polygon, Avalanche,…
Tornado Cash can be simply understood as a liquidity pool used to mix Crypto Currency. With the purpose of cutting off tracking from Onchain. Assets when deposited into the Pool will be mixed together regardless of origin. Until you withdraw money, your followers only know that you withdrew money from Tornado, but do not know who transferred the money to you.
The platform was born to solve the problem of protecting user privacy on Blockchain. Because Blockchain is open source, anyone can track every action and history of any wallet address. Although Tornado Cash is not the first project to develop in this niche, it shows its effectiveness in supporting large cash flows from Ethereum.
Tornado Cash brings privacy to users but does not deny that it is also a place to carry out many bad purposes. We try to look back at how the Internet has developed, but what we see is only its surface. While the Dark Web iceberg is still a major unresolved problem.
Because it promotes anonymity and decentralization, Tornado Cash switched its Web interface to run on IPFS.
Mechanism of Action
Tornado Cash’s operating mechanism
If you want to transfer money to someone else without anyone other than the recipient knowing about it, look to Tornado Cash. When you transfer money to Tornado Cash, you will receive a code. This code is generated from zk-SNARK proof. Then the recipient just needs to connect the wallet to the platform and enter the code to receive the money. Thus, Onchain only knows that the sender has deposited money into Tornado and the recipient has withdrawn money from Tornado, but does not know to which exact address you have sent money.
Products of Tornado Cash
The service that Tornado Cash provides is only anonymous money transfer. However, anonymity on Tornado is not yet complete. For some illiquid pools, based on the sending and receiving list on Tornado Cash, others can still localize suspicious addresses. So this is still not a perfect solution for transferring money anonymously.
Development Roadmap
Updating…
Core Team
Updating…
Investors
Updating…
Tokenomics
Overview information about Tornado Cash Token
- Token Name: Tornado Cash
- Ticker: TORN
- Blockchain: Ethereum
- Standard: ERC-20
- Contract: 0x77777feddddffc19ff86db637967013e6c6a116c
- Total supply: 9,999,997
- Maximum Supply: 9,999,997
Token Allocation
- 5% (500,000 TORN): Airdrop
- 10% (1,000,000 TORN): Mining
- 55% (5,500,000 TORN): Governance
- 30% (3,000,000 TORN): Team & Investor
Token Release
- 5% (500,000 TORN): Airdrop to early adopters of the Tornado.Cash ETH team
- 10% (1,000,000 TORN): Anonymous mining for the Tornado.Cash ETH pool, gradually distributed over 1 year
- 55% (5,500,000 TORN): DAO Treasury, to be gradually unlocked over 5 years after a 3-month lock
- 30% (3,000,000 TORN): Founding developers and early backers, will be unlocked over 3 years with a 1-year lock-in
Token Use Case
TORN Token holders can participate in protocol governance.
Exchanges
TORN tokens are traded on exchanges such as Binance, MEXC, BingX,…
Tornado Cash’s Information Channel
- Website: https://ipfs.io/ipns/tornadocash.eth/
- Twitter: https://twitter.com/TornadoCash
- Medium:
Summary
User anonymity on Blockchain is a very potential niche market in the future. But Tornado Cash is still facing many new platforms and especially Aztec.
So I have clarified what Tornado Cash is? Hope this article provides you with a lot of useful knowledge!