Nova also provides an opportunity to carry out “shielded transfers” of deposited tokens without withdrawing them from the pool. We are talking about transfers between addresses that are used for authorization in the decentralized application (dApp). Their registration takes place together with the first deposit.
Since Nova is in beta, user deposits have a limit of 1 ETH. Subsequently, if the community wishes to raise this limit, the 1 ETH cap amount can always change via a governance proposal.
A quick transfer of assets to the main Ethereum network
Furthermore, the new pool uses the Gnosis Chain (former xDai) sidechain to transfer funds. According to the developers, it was chosen because of the possibility of a quick transfer of assets to the main Ethereum network (a few minutes versus three hours for Polygon).
Thus, in order to exclude a spam attack on the bridge contract; the minimum withdrawal amount has a limit of 0.05 ETH. The protocol currently holds over 150,000 ETH in pools totaling $580 million.
Zeropool specialists performed the audit of the Nova smart contract.
Integration of L2 network service Arbitrum
Recall that earlier in November, Tornado Cash developers announced the integration of the Layer 2 (L2) network service Arbitrum. Using Arbitrum, according to the Nov. 29 announcement, “enables customers to make use of all the benefits a Layer 2 may offer, with the most important competitive advantage being cheaper transactions.”
Tornado Cash conceals the path that tokens like ETH take from sender to receiver, allowing transactions to be completely anonymous without the need for privacy-focused currency.
While retaining Ethereum’s security and decentralization, L2 Ethereum networks allow faster transactions and reduced prices.