Thursday, October 13, 2016

Blockchain Surveillance is Accelerating Privacy Tool Development

 

When it comes to cryptocurrencies one treasured goal is the ability to remain private, which requires both an anonymous and fungible currency. At times, it seems fungibility is the holy grail of the ecosystem. Bitcoin definitely achieves most of the qualities of sound money, but some believe it needs a lot of work in the development of fungibility.

 

Privacy cannot work without the basics of a fungible asset as both fundamentals are mutually exclusive. The rise in popularity concerning both fungibility and anonymity can be seen with the latest trends in market trading and development.

 

Just recently Bitcoin.com spoke with Daniel Krawisz about his new bitcoin shuffler, Shufflepuff. Krawisz explained he was still in the developmental process but had achieved the first shuffled transaction on August 15th. The Coin Shuffle protocol finds other users to tumble their bitcoins as variants of this technology are the most common protocol for mixing Bitcoins.

 

On August 29th, another tumbling protocol called TumbleBit was announced on Reddit, with the post being very popular among cryptocurrency community. The project developers say they are producing a roadmap in the near future. The team gives credit to David Chaum’s ecash for inspiring some of the project’s attributes.

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