Tornado Cash Users to Get Benefits for Proving Their Funds Are Not Stolen, Here’s How

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Holders of the TORN token, which is native to the Twister Money 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 referred to as the ‘Proof-of-Innocence’, which can reward moral TORN holders. The Twister Money platform is commonly 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 Twister Money protocol.

“Proof of Innocence is a instrument that permits customers to show that their withdrawals from Twister Money will not be from a listing of specified deposits, chosen by the person themselves. This enables customers to clear their names and display their innocence with out revealing their id,” Chainway wrote in an official publish.

Presently, over 1.09 million TORN cash are in circulation. As per CoinMarketCap, the entire 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 might be supplied with out disclosing the unique tackle of the customers’ funds.

Individuals who clear the method won’t solely get further layers of anonymity and privateness, however may also show that they don’t seem to be infamous actors. “This enables customers to clear their names and display their innocence with out revealing their id,” the Chainway weblog added.

For now, Chainway’s proof-of-innocence mechanism solely works on Twister Money. The protocol is on the market on GitHub, a CryptoSlate report famous.

“By offering this proof, customers can present that they don’t seem to be hackers or different dangerous actors, and may make withdrawals from Twister Money with confidence. This not solely improves the safety and trustworthiness of the system, but in addition helps to guard reputable customers from being related to unlawful actions, with out sacrificing their privateness,” the publish famous.

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