“Tornado [Cash] is dead, but privacy won’t die,” an ether enthusiast said on X after Oxbow’s Ethereum privacy tools went live on April 1 to facilitate on-chain privacy while dissociating from illicit funds.
The sentiment is echoed by the early uptake for the privacy pools, which have processed 238 user deposit transactions, totaling 67.49 ETH in the first three days. The new tool has received a thumbs-up from Ethereum founder Vitalik Buterin, who was one of the first to deposit ETH.
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These privacy pools leverage zero-knowledge proofs and commitment schemes to facilitate ether deposits and subsequent withdrawals, in part or whole, while breaking the link between deposits and withdrawal addresses. Think of it like having a specialized bank account to
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