Binance exchange has listed Tornado Cash (TORN)
Following Gitcoin (GTC), the largest crypto exchange in the world Binance has listed Tornado Cash (TORN) and open trading for TORN/BTC, TORN/BNB, TORN/BUSD and TORN/USDT trading pairs at 2021-06-11 06:00 AM (UTC). Withdrawals for TORN will open at 2021-06-11 02:00 PM (UTC)
— Binance (@binance) June 11, 2021
Tornado Cash (TORN) is a decentralized as well as non-custodial privacy solution that is built on Ethereum. While Tornado Cash was developed based on open-source research by the Zcash team, the protocol allows users to send ETH and ERC-20 deposits through its smart contract service.
Tornado Cash generates a secret hash each time a user deposits assets. Their smart contracts then accept the deposit along with the hash, called a commitment. The commitment’s purpose is to identify the real sender and prove during the withdrawal process that the user in question owns the assets. By inputting the hash upon making the request, the user essentially confirms his identity while remaining anonymous on-chain to everyone else.
TORN’s price surged by about 10% after being listed, with its price going from about $78, according to Coingecko.
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