First Bitcoin Wallet to Address Privacy Issues Without Requiring Any Forks
TumbleBit is to be introduced to Stratis Group’s soon-to-be-released Breeze Wallet, introducing new privacy features to Bitcoin users and the Stratis platform.
TumbleBit, which has been touted as the answer to anonymized transactions on top of Bitcoin’s protocol, is to be introduced to Stratis Group’s soon-to-be-released Breeze Wallet, introducing new privacy features to Bitcoin users and the Stratis platform.
Stratis is a Blockchain development platform that permits developers and enterprises to test and deploy Blockchain-based applications, equipping programmers with a Blockchain building interface using C# and the Microsoft .NET Framework.
After years of production on different components to create a digital currency wallet for enhanced privacy protection, Stratis developed the Breeze Wallet.
The first Bitcoin wallet to address privacy issues
Within two months the wallet is expected to be released. When it is, it will become the first Bitcoin wallet to address privacy issues in Blockchain transactions while working with the Bitcoin protocol without requiring any forks.
Speaking to Cointelegraph, Chris Trew, founder and CEO at Stratis, said that the Breeze Wallet will serve as a typical Bitcoin wallet for desktop computers, but combines the innovative TumbleBit solution and privacy enhancements.
“Connected through a TumbleBit tumbler, Breeze Wallet users can mix their coins without needing to trust each other or the tumbler with their coins or their privacy,” he said.
Their goal, according to Trew, is to offer a truly trustless and decentralized privacy protocol on the Stratis Blockchain, which has its own token, the Stratis token, and its private chains. It will also work with financial service regulators on creating regulatory compliant Blockchain solutions using the Stratis Privacy protocol.
Introduced by Ethan Heilman, Leen AlShenibr, Foteini Baldimtsi, Alessandra Scafuro and Sharon Goldberg, as an unlinkable payment hub, TumbleBit utilizes cryptographic techniques to ensure that the Tumbler doesn’t violate anonymity, steal Bitcoins or print money by issuing payments to itself.
By replacing on-Blockchain payments with off-Blockchain puzzle solving, Alice can send payments faster to Bob, with transactions completed in seconds. In the TumbleBit white paper, the authors explain it like this:
“Alice A pays Bob B by providing B with the solution to a puzzle. The puzzle z is generated through interaction between B and T and solved through an interaction between A and T. Each time a puzzle is solved, one Bitcoin is transferred from Alice A to the Tumbler T and finally on to Bob B.”
Trew explains that different ideas were looked at before deciding that TumbleBit was the best fit for their future goals as it is fully compatible with the Bitcoin’s protocol.
“The team behind Stratis carefully evaluated the different concepts and technological options to deliver a truly trustless and secure privacy solution that would meet the requirements of enterprise and consumers worldwide,” he said.
Full block SPV
In order to ensure the privacy features that the Breeze Wallet is promising, it will be introducing the Full Block Secure Payment Validation System or the Full Block SVP.
To aid the Stratis team to build the Breeze Wallet to the TumbleBit specifications, Adam Ficsor, one of the contributors to the TumbleBit research paper and the official implementation of TumbleBit NTumbleBit, is helping them with the creation of the full block SPV wallet in C#.