Holders of the TORN token, which is native to the Twister Money privateness mixer, will now be eligible to earn rewards for proving that their holdings usually are not from stolen funds. Web3 builder Chainway has launched a brand new function referred to as the ‘Proof-of-Innocence’, which is able to reward moral TORN holders. The Twister Money platform is commonly misused by scammers and thieves to anonymously rewire stolen funds by depositing their holdings in an nameless pool of tokens first.
TORN holders will be capable of set off this protocol as and once they want to withdraw their funds from the Twister Money protocol.
“Proof of Innocence is a device that permits customers to show that their withdrawals from Twister Money usually are not from a listing of specified deposits, chosen by the consumer themselves. This enables customers to clear their identify and display their innocence with out revealing their id,” Chainway wrote in an official submit.
At the moment, over 1.09 million TORN cash are in circulation. As per CoinMarketCap, the entire market valuation of TORN stands at over $7 million (roughly Rs. 60 crore).
TORN holders, who want to use the proof-of-innocence to earn advantages, would be capable of withdraw by offering ‘zero information’ proof. Zero-knowledge proofs might be offered with out disclosing the unique handle of the customers’ funds.
Individuals who clear the method won’t solely get extra layers of anonymity and privateness, however will even show that they don’t seem to be infamous actors. “This enables customers to clear their identify and display their innocence with out revealing their id,” the Chainway weblog added.
Referred to as Proof of Innocence, the device is designed for individuals who wish to use @TornadoCash but in addition wish to present they are not a nasty actor. It is designed for reputable customers who do not wish to be related to nefarious actions, but nonetheless wish to preserve their very own privateness.#TORN
— Coinzone :o:️ (@Coinzonestats) January 23, 2023
For now, Chainway’s proof-of-innocence mechanism solely works on Twister Money. The protocol is out there on GitHub, a CryptoSlate report famous.
“By offering this proof, customers can present that they don’t seem to be hackers or different dangerous actors, and may make withdrawals from Twister Money with confidence. This not solely improves the safety and trustworthiness of the system, but in addition helps to guard reputable customers from being related to unlawful actions, with out sacrificing their privateness,” the submit famous.