Tornado Cash Coin Price and Market Data
Tornado spot price today it’s $ 27.04 with a 24-hour transaction volume of $ 3,792,654. TORN’s price has fallen -7.4% in the past 24 hours. It has a circulating supply of 940 thousand TORN coins and a total supply of 10 million. If you are looking to buy or sell Tornado Cash, Uniswap (v2) is currently the most active exchange.
What is Tornado Cash?
Tornado Cash is a decentralized, non-custodial, Ethereum-based privacy solution. It improves the confidentiality of transactions by breaking the chain link between recipient and destination addresses. Tornado Cash uses a smart contract that accepts ETH and ERC-20 deposits. These deposits can be withdrawn at any address on the chain. Whenever an asset is withdrawn by the new address, there is no way to link the withdrawal to the deposit, thus ensuring the confidentiality of the assets.
Tornado Cash uses zero knowledge proofs (zk-SNARK) to ensure confidentiality. When a user decides to make a withdrawal, the user must provide proof that he has a secret corresponding to one of the deposit lists of the smart contract. Zk-SNARK technology allows this proof to be verified without the user needing to reveal which exact repository corresponds to their secret. The smart contract then verifies the proof and transfers the deposited funds to the address specified by the withdrawal transaction. No outside observer is able to determine which deposit this withdrawal is linked to.
What is the TORN token?
TORN is Tornado Cash’s native governance token. This is a fixed-supply ERC-20 token that is used to vote on protocol upgrades and fixes.
How many TORNs are there in circulation?
The TORN governance token has a fixed total supply of 10,000,000. 5% of the supply is allocated to previous protocol users via an airdrop, 10% to liquidity extraction rewards (spread linearly over 1 year), 30 % to founding developers and first supporters (released over 3 years with a 1-year cliff), and 55% to protocol cash (released linearly over 5 years).