Immutable Ethereum privacy protocol proposes governance system
Immutable Ethereum privacy protocol proposes governance system
Proxy system in front of immutable smart contracts volition permit changing of internal parameters.
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Tornado.Cash, the Ethereum mixing service that before this year implemented completely immutable smart contracts, has proposed a governance system powered by its ain TORN tokens.
According to a Dec. 18 post, the proposal volition put stewardship of the protocol in the hands of its customs of users.
An initial distribution of 10 million TORN volition be dissever betwixt early users and developers, a DAO treasury and anonymity miners over the course of the next five years.
Anonymity miners increment the efficiency of the service, and act past providing liquidity in a like wat to liquidity miners in decentralized finance protocols.
Even so, equally standard liquidity mining would reveal data about the user'southward deposits in the puddle, the proposal would implement a two-stage shielded system to preserve privacy.
Users would accumulate Anonymity Points (AP) into a private account, which will exist transferable into public TORN in one case enough have been collected.
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 information.
This proxy is too the method by which governance proposals, afterward being approved by a vote of TORN holders, would modify any of the protocol's internal parameters. Though the smart contracts are immutable, the proxy would allow replacing them with a new version if the community were to determine.
At this stage the code for the proposed change has been written and published to GitHub for the community to consider.
Source: https://cointelegraph.com/news/immutable-ethereum-privacy-protocol-proposes-governance-system
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