Ethermine will no longer process transactions related to Tornado Cash
8/21/2022, 05:26 PM
Ethermine.org is a pool for mining the cryptocurrency Ethereum (ETH), Ethereum Classic (ETC) and Zcash (ZEC). The pool charges a 1% commission for its services. Ethermine.org is considered one of the most convenient. There is a version for PC and mobile devices.
This pool was founded in the United States in 2016. It has an adjustable coin output setting. In the Ethermine facility are three coins: Ethereum, Ethereum Classic, Zcash. The number of visitors to Ethermine.org is at this time more than 10,000,000 people.
The recent news that the largest Ethereum mining pool, Ethermine, is no longer processing transactions related to the Ethereum tumbler, Tornado Cash, has caused controversy among the crypto community.
While some argue that this is simply a case of the pool complying with US sanctions, others worry that this could be the beginning of censorship on the Ethereum network.
Tornado Cash is an open source tumbler that allows users to anonymously send and receive ETH. However, due to its use of mixers, which are often associated with money laundering, the US Treasury Department has placed sanctions on the service. This has led to Ethermine, one of the largest mining pools, no longer processing any transactions originating from Tornado Cash.
While other mining pools do still process Tornado Cash transactions, the censorship by Ethermine is a cause for concern. This is especially true given that, after the recent move to Proof of Stake, many of the validators will be based in the US or operated by US citizens or corporations.
Slashing, which is supposed to be a solution to validators censoring transactions, may not be enough to deter those with a vested interest in censoring the Ethereum network.
The decentralized world of finance is in danger of failing due to the amalgamation of business interests and state regulation. If exchanges give in to US demands for censorship, it could have a ripple effect that destroys the trustless nature of the Ethereum network.
This pool was founded in the United States in 2016. It has an adjustable coin output setting. In the Ethermine facility are three coins: Ethereum, Ethereum Classic, Zcash. The number of visitors to Ethermine.org is at this time more than 10,000,000 people.
The recent news that the largest Ethereum mining pool, Ethermine, is no longer processing transactions related to the Ethereum tumbler, Tornado Cash, has caused controversy among the crypto community.
While some argue that this is simply a case of the pool complying with US sanctions, others worry that this could be the beginning of censorship on the Ethereum network.
Tornado Cash is an open source tumbler that allows users to anonymously send and receive ETH. However, due to its use of mixers, which are often associated with money laundering, the US Treasury Department has placed sanctions on the service. This has led to Ethermine, one of the largest mining pools, no longer processing any transactions originating from Tornado Cash.
While other mining pools do still process Tornado Cash transactions, the censorship by Ethermine is a cause for concern. This is especially true given that, after the recent move to Proof of Stake, many of the validators will be based in the US or operated by US citizens or corporations.
Slashing, which is supposed to be a solution to validators censoring transactions, may not be enough to deter those with a vested interest in censoring the Ethereum network.
The decentralized world of finance is in danger of failing due to the amalgamation of business interests and state regulation. If exchanges give in to US demands for censorship, it could have a ripple effect that destroys the trustless nature of the Ethereum network.