Tornado Cash privacy mixer holders of the TORN token are now eligible to receive rewards for proving their holdings are not derived from stolen funds. Web3 creator Chainway has introduced a new feature called Proof-of-Innocence that will reward ethical TORN holders. The Tornado Cash platform is often abused by scammers and thieves to anonymously re-wire stolen funds by first depositing their holdings in an anonymous token pool.
TORN holders can trigger this protocol whenever they wish to withdraw their funds from the Tornado Cash Protocol.
“Proof of Innocence is a tool that allows users to prove that their withdrawals from Tornado Cash are not from a list of specific deposits chosen by the user themselves. This allows users to clear their name and demonstrate their innocence without revealing their identity.” Chainway wrote in an official post.
There are currently over 1.09 million TORN coins in circulation. acc CoinMarketCapTORN’s overall market valuation is over US$7 million (around Rs.60 billion).
TORN holders wishing to use proof of innocence to obtain benefits could opt out by providing proof of “zero knowledge”. Zero-knowledge proofs can be provided without disclosing the original address of user funds.
Individuals who go through the process not only receive additional layers of anonymity and privacy, but also prove that they are not notorious actors. “This allows users to clear their names and demonstrate their innocence without revealing their identities,” the Chainway blog added.
The tool is called Proof of Innocence and it is designed for those who want to use it @TornadoCash but also want to show that they are not a bad actor. It is designed for legitimate users who don’t want to be associated with any nefarious activity but still want to maintain their own privacy.#TORN
— Coinzone :o:️ (@Coinzonestats) January 23, 2023
At the moment, Chainway’s proof of innocence mechanism only works on Tornado Cash. The log is available on GitHub, a CryptoSlate report written down.
“By providing this proof, users can show that they are not hackers or other bad actors and can withdraw from Tornado Cash with confidence. This not only improves the security and trustworthiness of the system, but also helps protect legitimate users from being associated with illegal activities without sacrificing their privacy,” the post reads.
