What is Tornado Cash (TORN)? Complete set of TORN . cryptocurrency
Description of What is Tornado Cash (TORN)? Complete set of TORN . cryptocurrency
What is Tornado Cash? What makes this project stand out? Find out more details about TORN Token's tokenomics right here.
Security and privacy are always among the top priorities of users. Having your wallet address exposed and tracked by millions of other users, including your competitors, is something no one wants. Especially large financial institutions or those who want to transact safely and secretly.
At the end of June 2022, a hacker hacked 100 million USD of ETH from Harmony bridge and transferred 21 million USD of ETH to Tornado Cash to wash this asset. Previously, in January 2022, a hacker also hacked 15 million USD in ETH from the Crypto.com exchange before transferring this ETH to Tornado Cash.
The article below will share full information about the Tornado Cash project for readers.
What is Tornado Cash?
Tornado Cash is a decentralized protocol developed based on the Zero-knowledge proof (ZKP) cryptographic technology, which supports the security of transactions on Ethereum. This is one of the biggest security solutions on Ethereum.
As a non-custodial (non-custodial) protocol, Tornado Cash gives users full control over their assets and transactions. Tornado Cash smart contracts deployed on the Ethereum blockchain cannot be altered or tampered with, are not governed by anyone with cryptographically-based proofs of operation.
Because of the above, the sender's information is completely secure and inviolable.
Tornado Cash (TORN) Highlights
Break the on-chain link
Tornado Cash breaks the on-chain link between source and destination addresses by using a smart contract that allows sending ETH or ERC20 tokens from one address and withdrawing funds from another. Once the asset is withdrawn from the new address, the on-chain link of the source and destination addresses is broken, making the transaction anonymous.
Tornado Cash does not collect user data, the user interface is hosted on IPFS (InterPlanetary File System) which minimizes the risk of data deletion. The Tornado Cash protocol is also audited by many professional auditing firms.
Increased security for transactions
Tornado Cash Nova is a new version of Tornado Cash, which works on Gnosis Chain (formerly xDai Chain) as Layer2 to optimize speed and cost. This new protocol allows users to deposit and withdraw custom amounts in ETH.
Transactions on Tornado Cash Nova are made between 2 protected addresses (these two use ZKP to encrypt transaction data with verifiable nodes ). User assets will be linked to a certain wallet and can be accessed by connecting to a pool with a wallet address without the need for a private key.
Tornado Cash currently supports 8 networks: Ethereum Mainnet, Binance Smart Chain, Polygon Network, Optimism, Arbitrum One, Gnosis Chain, Avalanche Mainnet and Ethereum Goerli.
Benefits of holding TORN tokens
TORN is a governance token that allows holders to:
- Participate in governance through suggestions and voting.
- Stake TORN by locking TORN on Tornado Cash.
- Add liquidity for the TORN - ETH pair on Uniswap v2.
Project team, investors & partners
Project team
- Co-Founder - Roman Semenov: Co-founder of PepperSec, a security services company founded by a group of whitehat hackers. Previously, he worked with the Ethereum Plasma open source project and participated in the development of the Token MultiSender dApp.
- Co-Founder - Roman Storm: Co-Founder of PepperSec. He has worked for Blockchainlabs.nz, Aave, Compound, MakerDAO and 1inch.
Investors
Tornado Cash is sponsored by the company PepperSec.
Partner
Updating…
Roadmaps & Updates
Tornado Cash does not publish a roadmap.
Tornado Cash (TORN) Token Information
Key Metrics Tornado Cash
- Token Name: Tornado Cash Token
- Ticker: TORN
- Blockchain: Ethereum
- Token Standard: ERC20
- Contract: 0x77777feddddffc19ff86db637967013e6c6a116c
- Token type: Governance.
- Total Supply: 10,000,000
- Circulating Supply: 1,099,794
TORN Token Allocation
TORN Token Sale
TORN tokens are not open for sale.
TORN Token Release Schedule
Updating…
How to earn and own TORN Token
Users can own TORN by depositing funds into the ETH, DAI, cDAI and wBTC pools on Tornado Cash.
TORN Token exchange & storage wallet
TORN Token Storage Wallet
TORN token supports two networks Ethereum and Binance Smart Chain, users can store on Coin98 Wallet with the following simple operation:
Step 1: At the main interface, select Receive .
Step 2: Enter TORN in the search box.
Step 3: Copy the TORN wallet address and send the TORN token to this address depending on the network you choose. (Here the author is choosing the Ethereum network).
TORN Token Exchange
TORN is currently traded on Binance, Mex Global, Uniswap, Sushiswap... and Coin98 Exchange. You can also trade TORN Token right at the Swap section at the end of the article.
See also: Coin98 Exchange User Guide
How to channel information of Tornado Cash
- Twitter: https://twitter.com/TornadoCash - 47.8K followers
- Telegram: https://t.me/TornadoCashOfficial - 5K followers
- Discord: https://discord.com/invite/TFDrM8K42j - 1.1K members
- Medium: https://tornado-cash.medium.com - 2.4K followers
- Dune: https://dune.com/poma/tornado-cash_1 - 337 followers.
- Github: https://github.com/tornadocash
- DeFi Pulse: https://www.defipulse.com/address-tag/tornado-cash
Similar projects
Starkware : Project that improves the scalability and privacy of blockchains by using STARK technology to deploy and verify zero-knowledge proofs.
summary
Developed to protect privacy on the Ethereum blockchain by removing the link between sending and receiving addresses, Tornado Cash has become the perfect tool for hackers. Notably, the founders of Tornado Cash themselves are also white hat hackers.
The Tornado Cash protocol is completely decentralized and community owned. Tornado Cash developers have no control over and do not run any servers. Therefore, the Tornado Cash development team cannot help much with the investigation of the authorities when necessary.
However, consuming the hacked money is difficult as the exchanges are not liquid, the hacker wallet address is blacklisted or it takes a long time to complete the money laundering. Hacked projects are also not easy for hackers to escape, but will work with many investigative agencies to analyze and find out the identities of these hackers.
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