Maelstrom is asserting that Ron, recognized on-line as “macgyver13,” is the fourth recipient of the Maelstrom Bitcoin Grant Program, per a press launch despatched to Bitcoin Journal. Ron shall be engaged on Silent Funds, as proposed in Bitcoin Enchancment Proposal 352.
“We are excited to be financially supporting Ron, in his mission on integrating Silent Payments into Bitcoin wallets,” mentioned the CFO of Maelstrom Arthur Hayes. “Many merchants and users want to provide/display a single static address that doesn’t change, which is an important, valid and simple use case. With Silent Payments this can still be done, while on-chain address re-use is avoided. Address re-use is a goldmine for the surveillance organisations, and at Maelstrom, we want to help put a stop to it.”
In September 2023, Silent Funds was proposed by Josie Baker and Ruben Somsen. It permits folks to create a single, static tackle to share with buddies, use for donations, or submit for ideas with out sacrificing privateness. This eliminates tackle reuse, a key methodology utilized by surveillance companies to trace consumer conduct on the blockchain.
“With many software projects, and perhaps even more so in Bitcoin, taking an idea from a proposal to a fully adopted solution is the hardest part,” Josie mentioned. “In the short amount of time I’ve been working with Ron, I’ve been thrilled at the progress we’ve made and I’m excited to work with him over the next year on Silent Payments adoption with the goal of making an intuitive, seamless user experience while also protecting user’s financial privacy.”
Bitcoin privateness relies on utilizing new addresses, which frequently requires sender to receiver interplay. Present static tackle 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 isn’t but confirmed safe.
Silent Funds purpose 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 trendy pockets options
“My primary focus will be coordinating development and testing efforts within the growing community dedicated to integrating Silent Payments into desktop and mobile Bitcoin wallets,” acknowledged the brand new grantee of Maelstrom Ron. “By advancing Silent Payments alongside BOLT12 and BIP-353, we aim to enhance privacy and simplify the user experience, paving the way for broader adoption of Bitcoin as a payment solution.”
