Tornado.Cash Deployment Proposal On xDAI

This article was written by ayefda & bt11baWUTornado team (@WUTornado)

Contribute to Tornado.Cash Deployment on xDAI

To this extent, Tornado.Cash contracts are ready to enter on xDai soil. They just need a little push from the community to get effectively deployed.

Tornado.Cash * xDai Chain

With this deployment, Tornado.Cash intends to broaden its usage by creating new pools to welcome xDai, the chain native stable crypto-currency. xDai holders will then have access to privacy by using either:

  • 100 xDai pool;
  • 1,000 xDai pool;
  • 10,000 xDai pool or
  • 100,000 xDai pool.

What About xDai Chain?

Known for enabling fast & inexpensive solution, xDai is a stable payments Ethereum-based blockchain that draws its strength from the concept of POSDAO, also known as “Proof of Stake Decentralized Autonomous Organization”.

  • xDai on one hand, a stable token used for transactions;
  • STAKE on the other hand, a governance & staking token used to support the POSDAO Proof-of-Stake mechanism.

POSDAO PoS in Few Words:

As an alternative to the “Proof of Work” concept (PoW), miners don’t need to compete through computational effort to validate transactions & append blocks.

Other Interesting Features:

xDai Chain also provides bridges, allowing its users to move tokens between chains. Those bridges enable conversion between xDai & Dai (MakerDAO crypto-currency). They also offer the opportunity to bridge ERC20 tokens between Ethereum or Binance Smart Chain & xDai.

xDai Chain Metrics 📈

And what About its Tokens?

  • xDai, its native cryptocurrency, is a stable token derived from Dai (MakerDAO crypto-currency), which is pegged to the US Dollar. Therefore, transaction fees on xDai are always predictable and stable.
  • Dai is a stable coin raking in the top 30 largest market capitalizations with more than $6bn. The correspondence between xDai & Dai is 1:1.
  • xDai Chain functions with a dual-token model. STAKE is its governance & utility token, used for the underlying POSDAO Proof-of-Stake consensus. STAKE has currently a market capitalization of ~ $58m.
https://coinmarketcap.com/currencies/xdai/

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Tornado Cash

Tornado Cash

Non-custodial private transactions on Ethereum. tornado.cash