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 will likely 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 tackle that doesn’t change, which is a crucial, legitimate and easy use case. With Silent Funds this will nonetheless be performed, whereas on-chain tackle re-use is prevented. Handle 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 tackle to share with pals, use for donations, or publish for suggestions with out sacrificing privateness. This eliminates tackle reuse, a key technique utilized by surveillance corporations to trace person conduct on the blockchain.
“With many software program tasks, and even perhaps extra so in Bitcoin, taking an concept from a proposal to a totally 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 following yr on Silent Funds adoption with the purpose of constructing an intuitive, seamless person expertise whereas additionally defending person’s monetary privateness.”
Bitcoin privateness will depend on utilizing new addresses, which regularly requires sender to receiver interplay. Present static tackle 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 intention 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 trendy pockets options
“My main focus will likely be coordinating improvement and testing efforts inside the rising neighborhood devoted to integrating Silent Funds into desktop and cellular Bitcoin wallets,” said the brand new grantee of Maelstrom Ron. “By advancing Silent Funds alongside BOLT12 and BIP-353, we intention to reinforce privateness and simplify the person expertise, paving the best way for broader adoption of Bitcoin as a cost answer.”
