Confidential transactions will be made available on the Ethereum network using a workaround created by the Tornado Cash beta project. This means that now users can complete transactions without revealing the amount of ETH participating in the transaction or without disclosing their previous transactions.
Theoretically, a workaround brings Ethereum cryptocurrency closer to cash (from the point of view of the confidentiality of financial transactions), since, according to the developers, no one will now know how much and how much money is being spent.
The non-custodial Ethereum mixer Tornado.cash has attracted the attention of Ethereum co-founder Vitalik Buterin. This became known from his twitter. Buterin advised developers not to waste time and introduce a new solution into wallets and other useful services. The result of this work should be ready-made working solutions that are convenient, safe and attractive to the end user.
The Tornado Cash tool allows users to send Ethereum anonymously using smart contracts and zero-disclosure evidence (zk-SNARKs). The latter has long been central to the Zcash coin privacy protocol. The cryptographic protocol behind the zero-knowledge proof allows one side to confirm the truth of the statement to the other side, while managing to not disclose any additional information, allowing you to send transactions with a high level of anonymity.
In fact, Tornado Cash works as a mixing service – an intermediary that is not custodial, which means that users retain control over the funds throughout the entire financial transaction.