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An updated look at Tornado Cash

January 13, 2022, 5:36PM EST • 5 min read Quick Take Tornado Cash uses zero-knowledge proof to break linkages between fund sender and receivers. Token incentive was leveraged to attract liquidity as the total value locked in Tornado Cash increased tenfold in 2021. Tornado Cash Nova enables deposits and withdrawals of arbitrary amounts of Ether, as well as shielded transfers of deposited tokens within the pools. Join The Block Research for exclusive research like this Gain access to this research …

Are decentralized exchanges tracking your trades?

Quick Take Decentralized exchanges are often seen as a privacy-first alternative to centralized exchanges. Yet many of the biggest ones are tracking what trades their users are making and collecting data that could be used to identify them. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

Current state of DeFi in 2021: Part 2

December 2, 2021, 3:27PM EST • 9 min read Quick Take This is a section from The Block Research’s upcoming 2022 Digital Assets Outlook report The nature of decentralized stablecoins became more diverse with the rise of algorithmic stablecoins backed by fractional reserves or endogenous collateral Centralized custodians played a pivotal role in bringing Bitcoin into DeFi Lido denominated the liquid staking sector with billions under management Most miner extractible value originated from arbitrage Join The Block Research for exclusive …