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On April 13th, Zooko Wilcox, the founder of cryptocurrency Zcash, stated on Twitter: “The two largest privacy services on Ethereum have been shut down: Tornado Cash sanctioned by OFAC and Aztec Connect by its creator Aztec. Zcash cannot be shut down. It will not be shut down by ‘electronic token companies’ or anyone else

EthHub Co founder refutes Zcash founder: Tornado Cash has never closed, and Zcash also has the possibility of being sanctioned

I. Introduction
II. The Shut Down of Tornado Cash and Aztec Connect
III. The Implications of Shutting Down Privacy Services on Ethereum
IV. How Zcash Stands Out from Ethereum
V. The Future of Privacy in Cryptocurrency
VI. Conclusion
FAQs
# On April 13th, Zooko Wilcox Defends Zcash
On April 13th, Zooko Wilcox, the founder of cryptocurrency Zcash, took to Twitter to address the recent shut down of two major privacy services on Ethereum – Tornado Cash and Aztec Connect. In his tweet, he stated, “The two largest privacy services on Ethereum have been shut down: Tornado Cash sanctioned by OFAC and Aztec Connect by its creator Aztec. Zcash cannot be shut down. It will not be shut down by ‘electronic token companies’ or anyone else.” This tweet sparked a conversation in the cryptocurrency community about the importance of privacy and the role of different cryptocurrencies in ensuring it.

The Shut Down of Tornado Cash and Aztec Connect

Tornado Cash and Aztec Connect were two of the most popular privacy services running on Ethereum. Tornado Cash allowed users to make their transactions completely anonymous by mixing them together with other users’ transactions. Aztec Connect used a similar technique to implement private transactions on Ethereum. However, both projects were recently shut down for different reasons.
Tornado Cash was shut down because it was sanctioned by the Office of Foreign Assets Control (OFAC), a branch of the United States Department of the Treasury that enforces economic sanctions against certain countries and individuals. The OFAC found that Tornado Cash could be used to evade economic sanctions, leading to its shut down.
Aztec Connect, on the other hand, was shut down by its own creator, Aztec. The team behind Aztec stated that they did not have the resources to maintain the service and decided to shut it down for the time being. However, they also announced that they are working on a new version of Aztec Connect that will be more efficient and secure.

The Implications of Shutting Down Privacy Services on Ethereum

The shut down of Tornado Cash and Aztec Connect has raised several questions about the future of privacy in cryptocurrency. Many people believe that without privacy services, cryptocurrency becomes less secure and attractive. Privacy services like Tornado Cash and Aztec Connect are essential for preserving anonymity and protecting transactions from being traced by third parties.
The shut down of these privacy services has also sparked concerns about centralized control within the cryptocurrency space. The fact that a government agency shut down Tornado Cash undermines the decentralized nature of cryptocurrency. It is important for cryptocurrency to remain decentralized to maintain its independence and transparency.

How Zcash Stands Out from Ethereum

Zooko Wilcox’s tweet highlights the fact that Zcash is different from Ethereum in terms of privacy. Zcash is a cryptocurrency that allows users to make completely private transactions using a unique technology known as zk-SNARKS. This technology makes it possible to encrypt the details of a transaction while still ensuring its validity.
The zk-SNARKS technology used by Zcash is different from the mixing techniques used by Tornado Cash and Aztec Connect. In mixing techniques, multiple transactions are combined and shuffled to hide their origin. In contrast, zk-SNARKS allow transactions to remain completely private without the need for mixing.

The Future of Privacy in Cryptocurrency

The shut down of Tornado Cash and Aztec Connect has highlighted the need for better privacy in cryptocurrency. As cryptocurrency becomes more popular, it is essential to protect privacy and ensure anonymity for users.
Several projects are currently working on privacy solutions for cryptocurrency. Some of these projects focus on using advanced technologies like zk-SNARKS, like Zcash. Others focus on building new privacy services that are more efficient and secure than previous versions, like the new version of Aztec Connect that is in the works.

Conclusion

The cryptocurrency community is currently grappling with the importance of privacy in cryptocurrency and the need for decentralized control. The shut down of Tornado Cash and Aztec Connect has raised several concerns about the security and viability of cryptocurrency without privacy services. However, Zcash’s unique privacy technology demonstrates that there are other ways to ensure privacy and anonymity in cryptocurrency.

FAQs

1. What is Tornado Cash?
Tornado Cash was a privacy service running on Ethereum that allowed users to make their transactions completely anonymous by mixing them together with other users’ transactions.
2. Why was Tornado Cash shut down?
Tornado Cash was shut down because it was sanctioned by the Office of Foreign Assets Control (OFAC), a branch of the United States Department of the Treasury that enforces economic sanctions against certain countries and individuals.
3. How is Zcash different from Ethereum in terms of privacy?
Zcash is a cryptocurrency that uses a unique technology known as zk-SNARKS to make completely private transactions. This technology makes it possible to encrypt the details of a transaction while still ensuring its validity.