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Tornado Cash ban is basically dangerous precedent, says Hoskinson

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Tornado Cash ban is basically dangerous precedent, says Hoskinson 4

Cardano founder responded against the US government ban on crypto mixer platform Tornado Cash.ย 

Tornado Cash is a crypto mixer platform, which provides anonymity to the platform users. Indeed the smart contract protocol of Tornado Cash platform accepts crypto and returns crypto via another address. In short, Tornado Cash makes crypto transactions’ traceability very tough. 

In the second week of this month, The United States’ two government agencies imposed sanctions on the Tornado Cash platform because the Tornado team failed to prohibit bad actors on the platform. In the last one year of time frame, around $1 Billion worth of funds have been laundered by the bad actors via the Tornado Cash platform despite the Tornado Cash team’s introduced anti-money laundering protocols. 

In the last AskMeAnything YouTube video session, Charles Hoskinson, founder of the Cardano blockchain project, talked about the ban imposed by the US govt on the Tornado Cash platform and indirectly claimed that it is an Indirect allegation of illegal activities & action against the developer community.ย 

Hoskinson said that the Govt is looking at the negative use of the developed product, instead to look at the options to prohibit the bad actor’s engagement.

โ€œThey are asserting that software developers are accountable for how their software is used regardless of whether they can control that or not, which is an extremely dangerous precedent.”

Further, Hoskinson explained this thing via an example and said that an open-source Computer program can be used by North Korea to operate their operating system of an ICBM (Intercontinental Ballistic Missile). 

In short, Cardano founder explained that the Tornado Cash platform is a neutral tool, which can be used for many good purposes and also can be misused and it is duty of government agencies to prohibit bad actors activities via suitable measures & collaboration with developers community.

Vitalik Buterin supports Tornado Cash

Last week, Ethereum co-founder Vitalik Buterin also supported the Tornado Cash platform as a neutral tool and criticized the US government sanction on Tornado Cash. 

Vitalik said that he used the Tornado Cash platform to send donations to Ukraine during the “Russia vs Ukraine conflict”, to hide the details of the crypto funds receiver.

Read also: Is Cardano a biggest failure of Ethereum co-founder Hoskinson?

Tornado Cash ban is basically dangerous precedent, says Hoskinson

 

https://bitcoinik.com/tornado-cash-ban-is-basically-dangerous-precedent-says-hoskinson/feed/

https://bitcoinik.com/tornado-cash-ban-is-basically-dangerous-precedent-says-hoskinson/feed/

 

 

 

 

 

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