{"id":136656,"date":"2020-12-18T16:41:41","date_gmt":"2020-12-18T13:41:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/immutable-ethereum-privacy-protocol-proposes-governance-system\/"},"modified":"2020-12-18T16:41:41","modified_gmt":"2020-12-18T13:41:41","slug":"immutable-ethereum-privacy-protocol-proposes-governance-system","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/immutable-ethereum-privacy-protocol-proposes-governance-system\/","title":{"rendered":"# Immutable Ethereum privacy protocol proposes governance system"},"content":{"rendered":"

“# Immutable Ethereum privacy protocol proposes governance system <\/strong>”
\n<\/p>\n

Tornado.Cash, the Ethereum mixing service that earlier this year implemented completely immutable smart contracts, has proposed a governance system powered by its own TORN tokens.<\/p>\n

According to a Dec. 18 post<\/a>, the proposal will put stewardship of the protocol in the hands of its community of users.<\/p>\n

An initial distribution of 10 million TORN will be split between early users and developers, a DAO treasury and anonymity miners over the course of the next five years.<\/p>\n

Anonymity miners increase the efficiency of the service, and act by providing liquidity in a similar wat to liquidity miners in decentralized finance protocols.<\/p>\n

However, as standard liquidity mining would reveal information about the user\u2019s deposits in the pool, the proposal would implement a two-stage shielded system to preserve privacy.<\/p>\n

Users would accumulate Anonymity Points (AP) into a private account, which will be transferable into public TORN once enough have been collected.<\/p>\n

To enable anonymity mining, Tornado.Cash requires additional metadata such as the block numbers for transactions. This is achieved by adding a proxy in front of the immutable smart contract which captures this data.<\/p>\n

This proxy is also the method by which governance proposals, after being app<\/a>roved by a vote of TORN holders, would change any of the protocol\u2019s internal parameters. Though the smart contracts are immutable, the proxy would allow replacing them with a new version if the community were to decide.<\/p>\n

At this stage the code for the proposed change has been written and published to GitHub for the community to consider.<\/p>\n