Tornado Cash, a well-known Ethereum transaction mixing protocol, is now ready to integrate with the Layer 2 network Arbitrum.
“The protocol’s smart contracts are ready to run on Arbitrum. They simply require assistance from the community in order to be deployed and fly on their own wings “Tornado Cash stated in a blog post on Monday.
Tornado Cash improves transaction privacy by acting as an Ethereum mixer. It accomplishes this by severing the on-chain link between the sender and recipient addresses. In other words, it allows withdrawals to a separate address that is not linked to a deposit address, ensuring privacy. Tornado Cash employs zkSnark proof technology and is non-custodial, which means that users retain complete control over their protocol deposits.
The launch of Tornado Cash on Arbitrum means that its users will be able to process Ethereum transactions more quickly and cheaply. Arbitrum’s scaling technology is based on optimistic rollups. Rollups allow Ethereum transactions to be executed off-chain and only transaction data to be stored on-chain. This reduces network congestion, increases network speed, and lowers transaction fees.
According to Tornado Cash, a transaction on Arbitrum costs 2.5 Gwei versus 130 Gwei on Ethereum, citing CoinTool data. Gwei is a subunit of ether (ETH). A gwei, also known as a gigawei, is 1,000,000,000 wei, the smallest base unit of ether.
Ethereum Layer 2 solutions appear to be gaining popularity. Arbitrum’s total amount of value locked (TVL) has increased dramatically since the launch of its mainnet on August 31. According to tracker DefiLlama, its current TVL is more than $2 billion, with the three biggest contributors being DeFi protocols Curve, AnySwap, and SushiSwap.
Arbitrum’s TVL is higher than that of its competitor Optimism.
Tornado Cash community members who want to help with the deployment on Arbitrum can do so, according to the company. Recently, the Ethereum mixing protocol has been deployed on Binance Smart Chain, Polygon, xDAI Chain, and Avalanche.