Tornado Cash launches on Arbitrum
The news has was announced yesterday. The integration of Tornado Cash on Arbitrum will be done gradually, thanks to contributions from the community. Tornado Cash is a fully decentralized mixer. It allows to hide the origin and destination of Ethereum tokens, which gives users real anonymity.
Tornado Cash is of course subject to Ethereum’s limitations, and therefore to its transaction fees which have reached particularly high levels lately. They have progressed throughout the year 2021, to reach 0.01 ETH on average today, or 44 dollars:
Average Ethereum Fee Growth – Source: Bitinfocharts
This is where Arbitrum, and scalability solutions come into play, because they allow you to greatly reduce costs. The solution could allow of lower them by 95%, according to the project teams.
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A second layer solution to improve costs
Arbitrum is currently the first second layer scalability solution in the Ethereum network. These are $ 2.68 billion which are locked on the solution, i.e. 39% market share according to L2beat data.
To use Arbitrum, Tornado Cash users must send their Ethereum tokens on layer 2 using a bridge: the Arbitrum Bridge:
” In principle, all tokens used on Ethereum can be sent over Arbitrum, including ETH and ERC-20 tokens as well as ERC-721. “
In any case, this shows the rise of second-layer solutions, which are gradually compensating for the current limitations of Ethereum … But also the interest in anonymity solutions, at a time when blockchains are more and more monitored.
👉 To read on the same subject – Ethereum: the value locked on “layer 2” reaches a new record
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