Ethereum Tornado Cash Privacy Protocol is introduced on Layer 2 Network Arbitrum

Tornado cash is about to escalate as the data protection protocol is preparing for deployment on Ethereum’s Layer 2 network, Arbitrum.TO

Tornado Cash Smart Contracts ready for deployment in the Arbitrum Layer 2 Scaling Network after community contributions to ensure protocol stability.

The November 29 announcement explained that deploying at Arbitrum “will allow users to take full advantage of Layer 2 and the cheapest transactions are the greatest comparative advantage.”

Ethereum Tornado Cash Privacy Protocol is introduced on Layer 2 Network Arbitrum
Ethereum Tornado Cash Privacy Protocol is introduced on Layer 2 Network Arbitrum

Tornado Cash is a fully decentralized Ethereum® (ETH) blending protocol. Tornado Cash masks the path that tokens, like ETH, travel from issuer to recipient and enables completely private transactions without the need for privacy-oriented coins.

Layer 2 networks on Ethereum offer faster transactions and cheaper feeswhile benefiting from the security and decentralization of Ethereum.

The Tornado Cash team believes that deploying it on Arbitrum will allow more users to conduct private crypto transactions while avoiding the high fees of Ethereum.. According to the team, L2 transactions should be around 95% cheaper than L1 Ethereum.

To use Tornado Cash on Arbitrum, users must first send ETH, ERC-20 and ERC-721 Ethereum tokens to Arbitrum via the Arbitrum Bridge.

Arbitrum is currently the largest L2 on Ethereum with a total value of $ 2.68 billion, which is 39% of L2’s market share. That number is only surpassed by Boba Networks TVL of $ 1.38 billion, making Boba and Arbitrum the only two L2s with more than $ 1 billion in TVL, according to L2Beat.

The number of unique addresses in Arbitrum has grown steadily since September and stands at 291,876 at the time of this writing. Tornado Cash has $ 847 million in TVL, according to DeFiPulse.

As Cointelegraph reported, Tornado Cash presented its TORN governance token in December 2020 and made it available to its users in February 2021.

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