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Maelstrom is asserting that Ron, identified on-line as “macgyver13,” is the fourth recipient of the Maelstrom Bitcoin Grant Program, per a press launch despatched to Bitcoin Journal. Ron can be engaged on Silent Funds, as proposed in Bitcoin Improvement Proposal 352.
“We’re excited to be financially supporting Ron, in his mission on integrating Silent Funds into Bitcoin wallets,” stated the CFO of Maelstrom Arthur Hayes. “Many retailers and customers wish to present/show a single static deal with that doesn’t change, which is a crucial, legitimate and easy use case. With Silent Funds this could nonetheless be carried out, whereas on-chain deal with re-use is prevented. Handle re-use is a goldmine for the surveillance organisations, and at Maelstrom, we wish to assist put a cease to it.”
In September 2023, Silent Funds was proposed by Josie Baker and Ruben Somsen. It permits folks to create a single, static deal with to share with mates, use for donations, or submit for ideas with out sacrificing privateness. This eliminates deal with reuse, a key methodology utilized by surveillance companies to trace person conduct on the blockchain.
“With many software program initiatives, and even perhaps extra so in Bitcoin, taking an thought from a proposal to a totally adopted resolution is the toughest half,” Josie stated. “Within the quick period of time I’ve been working with Ron, I’ve been thrilled on the progress we’ve made and I’m excited to work with him over the subsequent yr on Silent Funds adoption with the aim of creating an intuitive, seamless person expertise whereas additionally defending person’s monetary privateness.”
Bitcoin privateness relies on utilizing new addresses, which regularly requires sender to receiver interplay. Present static deal with strategies use notifications that improve prices and leak metadata. Silent Funds avoids each interplay and notifications however requires wallets to scan the blockchain. Multi-party enter use just isn’t but confirmed safe.
Silent Funds goal to implement:
- Zero transaction price overhead
- No linkability between funds and static addresses
- No want for sender to receiver interplay
- Compatibility with privateness instruments and trendy pockets options
“My main focus can be coordinating growth and testing efforts throughout the rising group devoted to integrating Silent Funds into desktop and cellular Bitcoin wallets,” said the brand new grantee of Maelstrom Ron. “By advancing Silent Funds alongside BOLT12 and BIP-353, we goal to reinforce privateness and simplify the person expertise, paving the best way for broader adoption of Bitcoin as a fee resolution.”