Holders of the TORN Token, which is native to the Tornado Cash privacy mixer, are now eligible to earn rewards by proving their holdings do not come from stolen funds. Web3 builder Chainway has launched a new feature, the ‘Proof-of-Innocence’, which will reward ethical TORN holders. The Tornado Cash platform is often misused by scammers and thieves to anonymously rewire stolen funds by first depositing their holdings into an anonymous pool of tokens.
TORN holders can activate this protocol as and when they want to withdraw their funds from the Tornado Cash protocol.
“Proof of Innocence is a tool that allows users to prove that their Tornado Cash withdrawals are not from a list of itemized deposits selected by the user themselves. This allows users to clear their names and prove their innocence without revealing their identities,” Chainway wrote in an official post.
Currently there are over 1.09 million TORN coins in circulation. According to CoinMarketCap, the total market value of TORN exceeds $7 million (approximately Rs. 60 crore).
TORN holders, who want to use proof of innocence to earn benefits, could back out by providing “zero knowledge” evidence. Evidence without knowledge can be provided without disclosing the original address of the user’s money.
People who go through the process not only gain extra layers of anonymity and privacy, but also prove that they are not infamous actors. “This allows users to clear their names and prove their innocence without revealing their identities,” the Chainway blog reads.
Called Proof of Innocence, the tool 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 do not want to be associated with nefarious activities, but still want to maintain their own privacy.#PIECE
— Coinzone:o:️ (@Coinzonestats) January 23, 2023
For now, Chainway’s proof-of-innocence mechanism only works on Tornado Cash. The protocol is available on GitHub, according to a report from CryptoSlate.
“By providing this proof, users can prove that they are not hackers or other bad actors, and can confidently withdraw funds from Tornado Cash. This not only improves the security and reliability of the system, but also helps to protect legitimate users from being involved in illegal activities, without sacrificing their privacy,” the post read.