Wasabi Wallet Signals a New Level of Bitcoin Privacy
A new implementation
The creator of HiddenWallet spoke at the industry conference dedicated to developments of a technical nature, explaining that Wasabi wallet was essentially “a new implementation” of the HiddenWallet project.
For those wondering if the Wasabi wallet is merely a rebrand of HiddenWallet, the answer is an emphatic no.
Ficzor went to great lengths during his talk at the Building on Bitcoin event to stress that the wallet has been rewritten “from scratch” to allow for a whole host of new features.
The current version of the wallet offers privacy on a public blockchain, which is something of a historic step.
Wasabi is a “ZeroLink-compliant” wallet, which incorporates Chaumian CoinJoin and enforces a constant 100 anonymity set.
Breaking down the process, what this means is that the Wasabi wallet prevents blockchain analytics firms and any other players involved in the process from spying on your transactions by “mixing” your funds with that of other users when a transaction is initiated.
No need for a centralized coordinator
Another positive of the Wasabi wallet is that, unlike other mixing services, there is no need for a centralized coordinator, meaning this is all being done without a single point of failure.
Wasabi is also a light wallet, meaning users can run it without a full node, however, unlike other light wallets there is no leak of Data to network analysts.
Wasabi creator Adam Ficzor commented –
“This is the only truly light wallet that is already deployed, and that does not fail against network analysis, thus protects your privacy against network observers.”
As with all mixing services, Wasabi also charges a fee, but at 0.3 percent this falls well below the three percent fees charged by some providers.
The beta release of the Wasabi wallet is scheduled for August 1, which is the anniversary of the user-activated soft fork, and the 1.0 version is penciled in for October 31, the tenth anniversary of the Bitcoin Whitepaper.
“The ten year anniversary of the Satoshi whitepaper is coming up. It would be great to be able to use bitcoin in a fully anonymous way with Wasabi wallet on that date, “ Ficzor said at the conclusion of his talk.
“I want you to join your coin with mine.”