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 can 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,” mentioned the CFO of Maelstrom Arthur Hayes. “Many retailers and customers wish to present/show a single static handle that doesn’t change, which is a vital, legitimate and easy use case. With Silent Funds this could nonetheless be completed, whereas on-chain handle re-use is prevented. Handle re-use is a goldmine for the surveillance organisations, and at Maelstrom, we wish to assist put a cease to it.”
In September 2023, Silent Funds was proposed by Josie Baker and Ruben Somsen. It permits folks to create a single, static handle to share with mates, use for donations, or submit for suggestions with out sacrificing privateness. This eliminates handle reuse, a key technique utilized by surveillance corporations to trace consumer habits on the blockchain.
“With many software program initiatives, and even perhaps extra so in Bitcoin, taking an thought from a proposal to a totally adopted answer is the toughest half,” Josie mentioned. “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 objective of constructing an intuitive, seamless consumer expertise whereas additionally defending consumer’s monetary privateness.”
Bitcoin privateness depends upon utilizing new addresses, which frequently requires sender to receiver interplay. Current static handle 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 is just not but confirmed safe.
Silent Funds purpose to implement:
Zero transaction price 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 can be coordinating improvement and testing efforts inside 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 purpose to reinforce privateness and simplify the consumer expertise, paving the best way for broader adoption of Bitcoin as a fee answer.”
