Maelstrom is saying 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 will probably 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,” stated 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 crucial, legitimate and easy use case. With Silent Funds this may nonetheless be achieved, whereas on-chain handle re-use is averted. 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 associates, use for donations, or submit for ideas with out sacrificing privateness. This eliminates handle reuse, a key technique utilized by surveillance corporations to trace consumer conduct on the blockchain.
“With many software program initiatives, and maybe even extra so in Bitcoin, taking an thought from a proposal to a completely adopted resolution is the toughest half,” Josie stated. “Within the brief 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 purpose of constructing an intuitive, seamless consumer expertise whereas additionally defending consumer’s monetary privateness.”
Bitcoin privateness relies on utilizing new addresses, which frequently requires sender to receiver interplay. Current static handle strategies use notifications that improve prices and leak metadata. Silent Funds avoids each interplay and notifications however requires wallets to scan the blockchain. Multi-party enter use will not be but confirmed safe.
Silent Funds goal to implement:
Zero transaction value 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 will probably be coordinating improvement and testing efforts throughout 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 goal to reinforce privateness and simplify the consumer expertise, paving the way in which for broader adoption of Bitcoin as a cost resolution.”
