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What is Tornado Cash all about
Tornado Cash is a decentralized, non-custodial protocol built on the Ethereum blockchain. Not even the original developers of Tornado Cash can alter the underlying smart contracts and the overall code. This makes Tornado cash fully immutable. Other aspects of the protocol are deployed by the community, through a governance process.
The overall goal of Tornado cash is an increase in transaction privacy. Transactions on the blockchain happen in a linear fashion. Tornado cash breaks up the link between the sender and receiver address. When a user deposits their tokens into Tornado cash, they receive a private note. The note corresponds to the amount of deposited funds and functions similarly to a private key. With this private note, a user can then withdraw the same amount of tokens as they deposited. They can do so at any point in time. If they so choose, they can even use a different wallet address. If they choose to use a new wallet address, the transaction source-destination link gets broken. As such, the user's cryptocurrency becomes anonymized.
Using Tornado Cash greatly increases the anonymity of the transaction. There are however tips a user can utilize to become even more anonymous. These include using a VPN, or TOR, deleting your browser data after each transaction, and using multiple different addresses to retrieve the deposited crypto-assets.
In 2021 Tornado Cash launched a new pool called Tornado Cash Nova. It has the same use as the original protocol but boasts additional features. Mainly an arbitrary amount pool and shielded transfers.
TORN is the native token of the platform. It's an ERC-20 token, with a total supply of 10 million tokens. It is used for governance on the Tornado Cash platform. Holders of TORN can also delegate their voting power to other users, without the need to send them their tokens directly.
Through the governing process, TORN token has received an additional use. TORN can now be staked in order to earn on the fees collected by the relayers on the protocol. Relayers are an essential part of the system, as they also increase the anonymity factor of Tornado Cash. They are third parties that manage withdrawal processes while collecting fees for their services.
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TORN Questions & Answers
How much does Tornado Cash cost today?
Price of Tornado Cash right now is at 6.37 EUR.
What will the price of Tornado Cash be in one month time?
Based on our prediction algorithm, we estimate that the cost of Tornado Cash will be anywhere between €0 and €27.25 in 1 month time.
At what point did Tornado Cash's price reach its highest?
The highest price of Tornado Cash was registered on 2021-02-13, when it was at 359.85 Euro.
Do social media users engage in Tornado Cash discussions?
0 users took part in discussing Tornado Cash on Reddit in the last 2 days. Tornado Cash's Twitter handle is currently followed by 61737 people.
What will Tornado Cash be worth in 3 months time?
In accordance with our prediction algorithm we suspect Tornado Cash's value will be anywhere between €0 and €27.25 3 months from now.
What will Tornado Cash be worth six months from now?
Long term projections are very difficult, however based on our prediction algorithm we expect that the cost of Tornado Cash will be between €0 and €33.61 in six months.
10 days Tornado Cash price forecast
Long term Tornado Cash price prediction