Victor Ugochukwu · Dec 14, 2020 . 5min read
Privacy-focused Wasabi Wallet announces version 2.0
Wasabi Wallet, the bitcoin software wallet announces the release of Wasabi Wallet 2.0. It will focus on privacy via CoinJoin and WabiSabi.
By Komal Joshi · Nov 5, 2020 . 5min read
Wasabi, a Bitcoin privacy-focused wallet, has announced a new version of Wasabi Wallet 2.0. The latest product will release sometime between the following 3-14 months. In a blog post, Wasabi declared the updated version would get a full UI (user interface) rewrite and user experience enhancements. It will also make CoinJoin simpler for an average user.
Encouraging Bitcoin adoption via Wasabi Wallet 2.0
Wasabi Wallet is a Bitcoin mixer from bitcoin privacy company zkSNACKs. It’s an open-source desktop wallet that utilizes the CoinJoin mixing method to cover the transaction history of various bitcoin payments from multiple parties into a single transaction. This way, external parties will have a challenging time tracking individual transaction histories.
The Wasabi Wallet 2.0 comes with a new CoinJoin algorithm and an unidentified credential scheme called WabiSabi. The purpose of the upgrade involves encouraging Bitcoin adoption by executing the WabiSabi protocol and making CoinJoins automatic by default. However, WabiSabi white paper states that the protocol does away with blind signatures. Additionally, it is a cryptographic idea that surrenders a degree of privacy and flexibility.
For the uninformed, a CoinJoin is a method for bitcoin (BTC) users to make their payments harder to trace by consolidating various payments from multiple senders into a transaction, declining the capability of third parties to recognize who paid whom. Wasabi being a non-custodial wallet, doesn’t contain any real wallets. It instead manages via Tor by hiding users’ IP locations.
CoinJoin famous among average users
CoinJoin is quite popular in the crypto community to protect transactions on the bitcoin blockchain. Even during the recent offensive Twitter attack, hackers utilized CoinJoins via Wasabasi to protect the stolen bitcoin transactions, as also during September’s KUCoin’s attack. Notwithstanding the propensity of hackers, even average users are attracted towards utilizing Wasabi Wallet for privacy reasons.
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