Now that Tornado.Cash is well established on the Ethereum Blockchain, the time has come to conquer new lands in the cryptocurrency world. Community members have expressed on several occasions their desire to see the Tornado settle on other sidechains.
As an answer to these requests, Tornado.Cash is now ready to make its first steps on the Binance Smart Chain (BSC). Such a deployment will expand Tornado.Cash usage, attract new liquidity providers and allow privacy on further assets. In other words, it will allow Tornado to reach a whole new scale by opening a world of possibilities.
It’s Time To Dive: Help Deploy Tornado on BSC!
To that end, Tornado’s contracts are finished and ready to spread their wings. They just need a little push from the community to take off and be set free on BSC (fyi, the rhyme is intended).
If you support this proposal, we invite you to help deploy Tornado’s contracts on Binance Smart Chain through this app:
Let’s contribute making our Tornado settle down on a new chain.
Hello BSC, Here We Come!
Being deployed on the Binance Smart Chain will enable Tornado.Cash to extend its current offer. By creating a new pool, the protocol will allow Binance Coin (BNB) users to earn back their privacy. As the largest privacy solution provider on Ethereum, Tornado.Cash is planning to spread its influence on BSC. The goal is to keep our protocol dominant.
BNB is currently the 4th token with the highest market capitalization. A new pool for the Binance Coin is very likely to attract many liquidity providers and new community members to Tornado.Cash. And we all know that the more … the merrier!
This deployment also means that Tornado.Cash will be operating on a blockchain with fast and cheap transactions, which will definitely work as a Layer 2 solution by providing cheaper fees.
As you don’t go and knock on you neighbor’s door without gathering few information beforehand, here is a quick briefing about Binance:
- BNB, the native currency of the Binance Chain, currently represents the 4th highest market capitalization in the crypto world, with $53.4bn. It comes just after BTC ($614.6bn), ETH ($289.9bn) & USDT ($62.3bn).
Binance Coin Chart over last year
- As the Binance Smart Chain allows a higher number of transactions per second than the Ethereum blockchain, the gas price is cheaper. On June 7th, the average paid gas price on BSC was 6.8 Gwei (vs. 24.5 Gwei on the Ethereum Blockchain). If we keep in mind that the ETH gas price is particularly lower these days, the Binance Smart Chain has a significant comparative advantage.
- BSC represents a network of more than 75m unique addresses, increasing by roughly 100–200 per day. With such a network, around 5m daily transactions are currently going through BSC. Mid-May, this number nearly reached 12m daily transactions.
To sump it up, the potential for Tornado.Cash to be on BSC is tremendous!
Here is the URL to deploy Tornado on BSC: https://bsc-deploy.tornado.cash/