Early Contributor of Banned Tornado Cash Ameen Soleimani Announces Launch of New and Improved Version of Mixing Service. Tornado Cash, a decentralized mixing service that allows users to obfuscate the origin of their cryptocurrency transactions, was recently banned by the US government. However, one of the early contributors to the project has now announced the launch of a new and improved version of the service.
According to a recent post on Twitter, the new version of the service is called “Cloak“, and it promises to offer even greater privacy and security than the original Tornado Cash. Cloak uses a multi-hop design, which means that the transaction is broken up into smaller pieces and routed through multiple nodes, making it difficult to trace the transaction back to its origin.
In addition to the enhanced privacy and security features, Cloak also promises to be faster and more efficient than Tornado Cash. According to the post, Cloak can process transactions in under a minute, whereas Tornado Cash often took several hours to complete a transaction.
The launch of Cloak comes at a time when privacy concerns are at an all-time high in the cryptocurrency space. Governments around the world are cracking down on privacy-focused projects like Tornado Cash, and many users are looking for alternative solutions that offer the same level of anonymity and security.
However, it remains to be seen whether Cloak will be able to avoid the same fate as Tornado Cash. The US government’s ban on Tornado Cash was just one of many recent crackdowns on cryptocurrency privacy tools, and other governments around the world are likely to follow suit.
Ameen Soleimani says that Tornado Cash has been “fixed” with the launch of Privacy Pools, which is built on Ethereum-scaling solution Optimism (OP).
Despite the potential regulatory hurdles, the launch of Cloak is a positive development for privacy-focused cryptocurrency users. The ability to conduct anonymous transactions is a core tenet of cryptocurrency, and services like Cloak are helping to ensure that this feature remains available to users around the world.
Conclusion
The launch of Cloak is a reminder that innovation in the cryptocurrency space is alive and well. Despite the challenges and obstacles faced by privacy-focused projects, developers and entrepreneurs continue to push the boundaries of what is possible, and to find new ways to offer greater privacy and security to cryptocurrency users.
