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 will likely be engaged on Silent Funds, as proposed in Bitcoin Enchancment 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 need to present/show a single static tackle that doesn’t change, which is a crucial, legitimate and easy use case. With Silent Funds this may nonetheless be performed, whereas on-chain tackle re-use is averted. Deal with re-use is a goldmine for the surveillance organisations, and at Maelstrom, we need to assist put a cease to it.”
In September 2023, Silent Funds was proposed by Josie Baker and Ruben Somsen. It permits individuals to create a single, static tackle to share with mates, use for donations, or put up for ideas with out sacrificing privateness. This eliminates tackle reuse, a key technique 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 concept from a proposal to a completely adopted answer 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 following 12 months on Silent Funds adoption with the purpose of creating an intuitive, seamless person expertise whereas additionally defending person’s monetary privateness.”
Bitcoin privateness will depend on utilizing new addresses, which frequently requires sender to receiver interplay. Current static tackle strategies use notifications that enhance prices and leak metadata. Silent Funds avoids each interplay and notifications however requires wallets to scan the blockchain. Multi-party enter use shouldn’t be but confirmed safe.
Silent Funds intention to implement:
- Zero transaction value overhead
- No linkability between funds and static addresses
- No want for sender to receiver interplay
- Compatibility with privateness instruments and fashionable pockets options
“My main focus will likely be coordinating improvement and testing efforts throughout the rising group devoted to integrating Silent Funds into desktop and cell Bitcoin wallets,” said the brand new grantee of Maelstrom Ron. “By advancing Silent Funds alongside BOLT12 and BIP-353, we intention to reinforce privateness and simplify the person expertise, paving the way in which for broader adoption of Bitcoin as a cost answer.”
