According to StockApps.com, six such protocols have mixed over $41.5 million worth of cryptoassets – 0.6% of the amount mixed by Tornado Cash.
Trade without revealing investment strategies
StockAppps Financial analyst, Edith Reads, says,” As control and surveillance of traditional finance tightens, the allure of digital assets will only grow. Decentralized protocols like Tornado Cash offer a powerful way to keep transactions private, and we expect their usage will continue to increase.”
Tornado Cash is a decentralized protocol that allows users to send ETH and ERC20 tokens without revealing their identity. The protocol uses zero-knowledge proofs to allow users to mix their assets in a completely trustless manner. Tornado Cash is the most popular mixing service currently available.
There are a number of protocols vying for a share of the market for private transaction services. The six protocols that have processed the most value are: