Tornado Cash, a popular Ethereum transaction mixing protocol, is ready to integrate into the Layer 2 Arbitrum network.
“The protocol smart contracts are all defined and ready to run on Arbitrum. They just need the community’s help to deploy and stand on their own feet,” Tornado Cash said in a blog post Monday.
As an Ethereum mixer, Tornado Cash improves transaction privacy. It does this by breaking the chain link between the sender and the recipient’s address. In other words, it allows withdrawals to a different address, which cannot be linked to a deposit address, thus ensuring confidentiality. Tornado Cash uses zkSnark-proof technology and is not a custodian, which means users retain full control of their deposits in the protocol.
The launch of Tornado Cash on Arbitrum means that its users will be able to process Ethereum transactions faster and cheaper. Arbitrum uses optimistic totals for its scaling technology. Rollups allow the execution of off-chain Ethereum transactions and only store on-chain transaction data. This reduces network congestion, increases its speed and reduces transaction costs.
Tornado Cash said a transaction costs around 2.5 Gwei on Arbitrum versus around 130 Gwei on Ethereum, citing data from the CoinTool tracker. Gwei is a small unit of ether (ETH). A gwei or gigawei is defined as 1,000,000,000 wei, the smallest basic unit of the ether.
Ethereum Layer 2 solutions seem to be gaining momentum. Since the launch of its mainnet on August 31, the total amount of locked-in value (TVL) in Arbitrum has increased sharply. Its current TVL stands at over $ 2 billion, and the top three contributors are DeFi Curve, AnySwap, SushiSwap, according to the DefiLlama tracker.
Arbitrum’s TVL is higher than its rival Optimism, according to The Block’s data dashboard.
Members of the Tornado Cash community who wish to support its deployment on Arbitrum can help with the deployment, he said. The Ethereum mixing protocol was recently deployed on Binance Smart Chain, Polygon, xDAI Chain, and Avalanche.
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