The integration will allow users to make private transactions through the popular Tornado Cash mixer on the Arbitrum Layer 2 network.
Tornado Cash Announces Protocol Scale Up
The integration indicates a significant scaling boost to the privacy protocol. The Tornado Cash team announced the news via a public statement released on Medium on November 29. In addition, they announced that the protocol’s smart contracts are all ready to be deployed on the Aribitrum network.
The announcement reads,
“The protocol’s smart contracts are all set and ready to spin on Arbitrum. They just need help from the community to get deployed & fly with their own wings.”
Ethereum Mixer On Arbitrum
As a fully decentralized Ethereum mixer protocol, Tornado Cash provides completely private transactions by hiding the path of the tokens from sender to receiver without using privacy-focused coins. The protocol breaks the on-chain link between the sender and recipient address. Withdrawals are liked to a different address so as to ensure untraceability. The protocol also uses zkSnark proof technology, which makes transactions non-custodial and allows users complete control over their deposits.
According to the Tornado Cash team,
“This proposal is part of the protocol’s desire to constantly improve itself and allow more users to claim back their right to privacy. Moreover, with this deployment, Tornado.Cash will join a thriving ecosystem composed of multiple other DeFi applications.”
The integration will allow users to benefit from the lower fees and faster transactions of the Layer two Ethereum network while ensuring security and decentralization. In fact, the team believes that the L2 transaction costs will reduce by a whopping 95% compared to the L1 transactions.
The Arbitrum One is a Layer 2 solution launched to relieve the Ethereum blockchain. It allows full access to Ethereum smart contracts & their features while acting as a second layer to relieve the traditional blockchain. Operating under the principle of Optimistic Rollups, it applies a fraud-proof security model. This means that transactions are considered valid by default, allowing a higher number of transactions to take place. In order to maintain security on the network, these transactions can be challenged by anyone who suspects fraudulent behavior, and a verification analysis is run.
The announcement also pointed out that since Arbitrum One doesn’t have any native token, all crypto-assets used on the platform come from the Ethereum blockchain, and transaction costs are paid in ETH. To use L1 crypto assets on Arbitrum, they need to be brought over from L2. Therefore, users who want to use Tornado Cash on Arbitrum must first send ETH, ERC-20, and ERC-721 tokens from Ethereum to Arbitrum via the Arbitrum Bridge.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.