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Tornado of anonymity on Ethereum – Tornado Cash blows a new wind

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Anonymity redesigned by Tornado Cash – Ethereum (ETH) is a public blockchain, all of whose transactions are freely searchable. This feature does not protect the anonymity of users. Fortunately, the Tornado Cash protocol adds a layer of anonymity to the prince of crypto’s network.

Take anonymity on Ethereum to the next level

Tornado Cash is a protocol hosted on Ethereum. This aims to improve anonymity transactions on the network. Several anonymization techniques exist in the cryptocurrency ecosystem. For its part, Tornado Cash has opted for one of the simplest designs, yet radically effective: that of mixers.

In practice, a mixer is a pool in which users deposit funds. A mixture is then made with all the deposited funds. Finally, the amounts initially deposited are returned to custodians. This mechanism makes it possible to mix funds a large number of users in order to make it almost impossible to reconstruct the link between deposit and withdrawal.

Since its launch, the Tornado Cash protocol has witnessed over 96,000 different deposits. In total, more than 2 million ETH and $ 4 billion in stablecoins were deposited on the protocol.

Since its launch, the Tornado Cash protocol has witnessed over 96,000 different deposits.  In total, more than 2 million ETH and $ 4 billion in stablecoins have been deposited on the protocol.
Total amounts deposited on Tornado Cash since its launch – Source: Dune Analytics

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Tornado Cash announces the launch of Nova

On Wednesday December 15, the teams of Tornado Cash have announcement the launch of a new service called Nova.

Tornado Cash announces Nova

In practice, this service takes the form of an ETH pool with a series of new features.

First of all, this new pool delete the need to file a preset amount by the protocol. Indeed, until now, users could only deposit ETH by factor 10 (0.1, 1, 10 or 100). With Nova, it will now be possible to deposit arbitrary amounts.

“Therefore, if you want to put 0.4 ETH in the pool, you can do it all at once rather than doing 4 separate transactions in the 0.1 ETH pool.

Announcement of Tornado Cash

Then, Nova allows you to make fund transfers without have to remove protocol funds. Thus, the pool makes it possible to transfer deposited funds to another user, whose address is already known to the protocol.

Finally, Tornado Cash also announces the support second layer solution Gnosis Chain (formerly xDAI) to enable transactions at lower cost.

This update is also the perfect opportunity to announce the future deployment of version 3 of the protocol. This should introduce the atomic swaps between assets of the same pool as well as the addition of pools of ERC-20 tokens and even NFT.

For its part, the Ethereum network has just experienced an update via the deployment of the hard fork Arrow Glacier. As a reminder, this one aims to repel the difficulty bomb, making mining obsolete.

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