Tornado’s ‘Privacy Pools’: Creating a Better Ethereum Coin Mixer

03/03/2023 12:40 • AI & Tech Insights • 67 views

On March 3, the early contributor of Tornado, Ameen Soleimani, recently created a forked version of Tornado – Privacy Pools. This product aims to become a better Ethereum coin mixer.

Tornado contributor launched the forked product Privacy Pools to bypass the federal government regulation

Interpretation of the news:

On March 3, 2021, Ameen Soleimani, an early contributor to Tornado, announced the creation of Privacy Pools, a forked version of Tornado. The primary objective of the product is to create a more efficient and better Ethereum coin mixer. Cryptocurrency mixing refers to the process of combining different digital currencies to obscure the origin of the transactions. This process is often used to improve privacy, anonymity, and security in the blockchain environment.

Privacy Pools aims to overcome the limitations found in the current Tornado protocol, which only allows a limited number of users to participate in the mixing process. The addition of privacy pools enables multiple users to pool their resources, which allows larger sums of money to be mixed in a single transaction, for example, making it a more effective solution for large transactions.

Privacy pools also offer a better anonymity solution than Tornado. This increased anonymity level is attributed to the use of ‘pooled participations.’ Here, participants in the privacy pool aren’t strictly identified as the mixer’s output can include inputs from all participants. This means that the sender and recipient of the mixed transaction cannot be identified easily.

Another advantage of privacy pools is that it makes Ethereum coin mixing more accessible to users. Privacy pools allow users to mix ether without having to specify the amount of liquidity they are willing to provide. Rather, users can deposit any amount they would like to mix into the pool, with the overall liquidity shared among other participants.

In conclusion, the creation of Privacy Pools marks a significant advancement in the field of cryptocurrency mixing, particularly for Ethereum users. By incorporating privacy pools, it offers a more efficient and secure way of anonymizing transactions that require large sums of money. It also offers an easier way of mixing with the increased anonymity level, while making the mixing process accessible to more users.

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Tornado’s ‘Privacy Pools’: Creating a Better Ethereum Coin Mixer

Tornado contributor launched the forked product Privacy Pools to bypass the federal government regulation

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