While blockchain surveillance has grown dramatically in recent years, cryptocurrency mixers have been used significantly by those who do not want their financial transactions to be tracked. Meanwhile, two hybrid applications, Tornado.cash and Cashfusion, have helped crypto owners make their Ethereum and Bitcoin cash less traceable. The two applications combined recorded more than $ 8 billion in crypto transactions that were deliberately obfuscated.
Over $ 4.8 billion in Ethereum processed through Tornado.cash
Data protection in digital currencies is a big deal for many people. For some people this is not the case and they have no problem with transactions in transparent ledgers monitored by blockchain monitoring firms. Data protection officers, on the other hand, use a number of methods such as using a VPN, using the Tor browser, and accessing token mixers. Towards the end of 2021, the two crypto asset mixing applications Tornado.cash and Cashfusion processed digital assets valued at over $ 8 billion.
Tornado.cash is an Ethereum (ETH) mixing tool that has recorded approximately 2,344,835 ethers worth more than $ 4.8 billion in deposits. The application is very popular and was even reviewed by former Bitcoin developer Gavin Andresen in 2020. Tornado.cash also recently announced that it is in the middle of the deployment on the L2 (Layer 2) Ethereum platform Arbitrum One. Of the $ 4.87 billion that was deposited, Tornado.cash users paid $ 7.2 million in network fees, according to metrics from Dune Analytics.
Tornado.cash metrics from the Dune Analytics dashboard.
Statistics also show that there were 12,240 unique depositors and 36,382 unique withdrawal addresses. The $ 4.8 billion deposits were distributed through 98,593 individual deposits from the 12,240 addresses. The proportion of withdrawals made with a relayer is around 70,800, while the traditional withdrawals from the wallet are around 20,233.
More than $ 3.8 billion in Bitcoin Cash merged since November 2019
Another blending project that mixed a few billion coins is the Cashfusion project used by the Bitcoin Cash Community (BCH). The mixed application without custody contained in the Electron Cash Wallet has been a popular anonymity tool since November 28, 2019. Cash fusion provides significant transaction obfuscation and the project was reviewed by data analyst James Waugh in January 2020.
The total of Bitcoin Cash (BCH) mergers as of December 25, 2021.
Waugh stated at the time that he was combing through thousands of transaction inputs and outputs and realized that “it is not possible to make a concrete connection” between them. To date, and since November 2019, 7,293,680 bitcoin cash worth 3.28 billion has been processed. So far there have been 6,931,976 entrances and 7,102,213 exits, and the BCH fees are negligible compared to Ethereum’s network fees of 169 Satoshis for each merged BCH.
Both mixed applications are popular today and are used regularly. On Fridays, BCH fans take part in so-called “Fusion Fridays” in order to get a larger number of them to melt their coins together. Since Tornado.cash supports Arbitrum One, the fees will be much lower than the average onchain ETH fee. In addition to mixed applications for Ethereum (ETH) and Bitcoin Cash (BCH), the non-custody Wasabi Wallet and Samourai Wallet also offer mixed functions for Bitcoin (BTC).
Tags in this story
Anonymity, BCH mixer, Bitcoin (BTC), bitcoin cash, bitcoin cash BCH, cash fusion, ETH mixer, fusing, fusion, fusions, inputs, mixing tools, outputs, data protection, data protection mixing tools, private transactions , Samourai Wallet, Tornado Cash, UTXO Mixing, Wasabi
What do you think of the data protection mixing tools Tornado.cash and Cashfusion? Let us know what you think on this matter in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.
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