Tornado.cash, Unstoppable protocol by Ethereum

Tornado.cash, Unstoppable protocol by Ethereum

Business Cryptocurrency
May 26, 2020 by admin
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One of the main issues, constantly states about Bitcoin, is its privacy. Although Bitcoin users use pseudonyms, the transactions are visible, as a result the privacy is not high enough. There are some services available to help the transaction issue. These services help the costumers through masking the transactions, but they are not popular. Since they often have fees, they are not used by large numbers of people. Some new policies were implemented to increase privacy, although the focus is still on the anonymity protocol.
Tornado.cash, Unstoppable protocol by Ethereum

Regarding this issue, Ethereum now focuses on immutable contracts. This contract is widely adopted by ICOs. This contract is used for the computer programs that are not restricted, and their restrictions require special functions and properties. One of these restrictions is the immutability of their codes. This means the contract that the parties agree to, or in other words, the “code” of the contract, can’t be changed unilaterally. As a result, the contract in similarly unchangeable, although changes are available in situations, whenever both parties agree to the terms. The final contract would be valid, only if while changing it a regulator or observer is present. The immutability of the results of the executed smart contracts is based on the protocol that makes it immune to the external factors influences. So, the result is only dependent on the input data, and the stored data included in the contract. Although the operations provided in Ethereum have been of a wider range, comparing to the others such as Bitcoin, they rendered another protocol called unstoppable on May 21.

Numerous declarations have been made about the code, stating the code is the law and advising against using this new protocol. One of these people is Tornado. He mentions the decentralization and the inability of smart contracts, as two positive features of the protocol. Developers expressed their ideas against it as well claiming, “The Tornado.cash team is also not able to protect the users from bugs anymore.” They also recommended the users to cover their funds with insurance.

The aim is to “replicate Zcash features onto Ethereum Mainnet.” In this project the developers relinquished the Tornado.cash protocol to achieve the next version, with their attention, focused on the replacement.

David Gerard, the Crypto analyst, commented on Tornado.cash’s fixation on immutability explaining the protocol as “a sitting duck for attackers, where security holes literally can’t be fixed.” And he remained the viewers of the DAO, “It seems Ethereum developers have already forgotten Ethereum’s first huge disaster, The DAO,” he went on mentioning a statement that could clearly express the disaster. The authorities clearly stated that it wasn’t hacking. It was exploitation, so it meant they found a way to alter the code to behave unexpectedly.

Tornado.cash has frequently gone public to support the idea, and it tried to claim the software is safe, although they added a message to the homepage of the software saying  “an experimental software” that is to be “use at your own risk.”

To sum up- This software is not safe at all. Using software that has the message that says use it at your own risk is not out of risk.

DAO: In computer software, a data access object (DAO) is a pattern that provides an abstract interface to some type of database or other persistence mechanisms. By mapping application calls to the persistence layer, the DAO provides some specific data operations without exposing details of the database.

References
https://cointelegraph.com/news/expert-the-dao-was-exploited…
https://cointelegraph.com/tags/privacy
https://cointelegraph.com/news/ethereum-privacy-protocol…
https://espeoblockchain.com/blog/ethereum-smart-contract
https://medium.com/@tjayrush/smart-contracts-are…
https://medium.com/token-estate/dealing-with-ethereums…

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