Wasabi Wallet-Bitcoin Privacy

in #bitcoin2 years ago

Wasabi is a ZeroLink-compliant wallet that uses Chaumian CoinJoin and enforces a constant 100 anonymity set.

Wasabi prevents blockchain analytics firms and other would-be snoopers from spying on your bitcoin transactions by automatically “mixing” your coins with other users’ funds when you initiate a transaction.

Unlike with some mixing services, Wasabi accomplishes all of this without any centralized service, ensuring that there is no single point of failure.

Uses Segwit to save fees on Tx

Wasabi is also a light wallet, so users can run it without a full node. However, unlike most light wallets, it does not leak your data to network analysts.

This level of privacy has been achieved through the implementation of Bitcoin Improvement Proposals (BIPs) 157 and 158, which outline a protocol whereby a lightweight client can sync to the blockchain without sacrificing privacy.

The wallet also includes default support for Tor, and — in the interest of user privacy — cannot be used without it.

A future feature is making every non-mixing transaction a JoinMarket taker transaction in the future.

How does it compare to other alternatives?

Centralized Bitcoin Mixers
Centralized Bitcoin Mixers are often vulnerable to amount analysis, they can steal your coins and you have no privacy against them. Wasabi solves all these issues.

The anonymity set of Monero is 2–10. Wasabi’s is constant 100. However, in Monero, every transaction is a mixing transaction.

The anonymity set of ZCash could potentially be huge. However, unlike Wasabi, it does not enforce any anonymity set and the lack of usage of its privacy features keeps it small for now.

Lightning Network
The Lightning Network is a second layer scaling solution that fixes many privacy problems those are present in cryptocurrencies, but it also introduces new ones. Assuming LN is fully anonymous, there will always be a need for on-chain privacy. But LN is not fully anonymous. It also achieves confidentiality within a Lightning Node/Hub, but you have no privacy towards the Npde/Hub you paid to. However when a payment goes through multiple nodes, LN uses onion routing. That facilitates privacy, assuming the nodes/hubs do not collude. Another benefit to LN is that its hubs don’t need to KYC their users. Its downsides are some public information, like the channel sizes, which all nodes know about and the on-boarding and off-boarding transactions. When the LN gets used more the Onchain Tx might get so far beyond it origin point that tracking it would be near impossible until then you can track LN txs by Onchan txs. In the future Wasabi Wallet is planning to facilitate LN on-boarding transactions with coinjoins.
In fact a Coinjoin using LN is being made:

*More privacy tools will be added to further increase privacy.
Such as BIP47 Payment Codes a better version of Stealth Addresses
and Tumblebit can work with Zerolink increasing anonymity.
Source of all info:

Want to try out the wallet?

Here the site: www.wasabiwallet.io/
**The official launch is August 1 2018 **


Congratulations @sames ! You received a 15.93% upvote from @kryptoniabot & @kryptonia for your task of 400 SUP Today.

Remember to receive votes from @kryptoniabot

Run a task on Kryptonia.*Join free here Kryptonia Account
Use the tags KRYPTONIA or SUPERIORCOIN in your Steemit post.

Delegate to the Kryptonia Upvote by clicking links: 10SP , 50SP , 100SP , 500SP , 1000SP

Due to an increased amount of tasks, we have changed up the voting power to evenly spread out the Upvote amount.

Good post, thanks.

Informative post. thanks for sharing

Great post! Kryptonia id @polilf

Coin Marketplace

STEEM 0.16
TRX 0.03
JST 0.039
BTC 10632.85
ETH 345.69
USDT 1.00
SBD 0.95