Holders of the TORN token, which is native to the Tornado Cash privateness mixer, will now be eligible to earn rewards for proving that their holdings will not be from stolen funds. Web3 builder Chainway has launched a brand new characteristic known as the ‘Proof-of-Innocence’, which is able to reward moral TORN holders. The Tornado Cash platform is usually misused by scammers and thieves to anonymously rewire stolen funds by depositing their holdings in an nameless pool of tokens first.
TORN holders will be capable to set off this protocol as and after they want to withdraw their funds from the Tornado Cash protocol.
“Proof of Innocence is a tool that allows users to prove that their withdrawals from Tornado Cash are not from a list of specified deposits, selected by the user themselves. This allows users to clear their name and demonstrate their innocence without revealing their identity,” Chainway wrote in an official submit.
Currently, over 1.09 million TORN cash are in circulation. As per CoinMarketCap, the full market valuation of TORN stands at over $7 million (roughly Rs. 60 crore).
TORN holders, who want to use the proof-of-innocence to earn advantages, would be capable to withdraw by offering ‘zero data’ proof. Zero-knowledge proofs will be offered with out disclosing the unique handle of the customers’ funds.
People who clear the method won’t solely get extra layers of anonymity and privateness, however may also show that they aren’t infamous actors. “This allows users to clear their name and demonstrate their innocence without revealing their identity,” the Chainway weblog added.
Called Proof of Innocence, the instrument is designed for individuals who wish to use @TornadoCash but additionally wish to present they don’t seem to be a nasty actor. It’s designed for respectable customers who do not wish to be related to nefarious actions, but nonetheless wish to keep their very own privateness.#TORN
— Coinzone :o:️ (@Coinzonestats) January 23, 2023
For now, Chainway’s proof-of-innocence mechanism solely works on Tornado Cash. The protocol is on the market on GitHub, a CryptoSlate report famous.
“By providing this proof, users can show that they are not hackers or other bad actors, and can make withdrawals from Tornado Cash with confidence. This not only improves the security and trustworthiness of the system, but also helps to protect legitimate users from being associated with illegal activities, without sacrificing their privacy,” the submit famous.