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 might 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 need to present/show a single static handle that doesn’t change, which is a crucial, legitimate and easy use case. With Silent Funds this will nonetheless be finished, whereas on-chain handle re-use is averted. Deal with re-use is a goldmine for the surveillance organisations, and at Maelstrom, we need 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 pals, use for donations, or submit for ideas with out sacrificing privateness. This eliminates handle reuse, a key technique utilized by surveillance corporations to trace person habits on the blockchain.
“With many software program initiatives, and even perhaps extra so in Bitcoin, taking an concept from a proposal to a completely adopted answer is the toughest half,” Josie mentioned. “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 subsequent yr on Silent Funds adoption with the objective of creating an intuitive, seamless person expertise whereas additionally defending person’s monetary privateness.”
Bitcoin privateness depends upon utilizing new addresses, which frequently requires sender to receiver interplay. Present 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 shouldn’t be 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 might be coordinating growth 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 purpose to boost privateness and simplify the person expertise, paving the way in which for broader adoption of Bitcoin as a cost answer.”
