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 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 vital, legitimate and easy use case. With Silent Funds this could nonetheless be achieved, whereas on-chain handle re-use is prevented. Tackle 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 buddies, use for donations, or submit for ideas with out sacrificing privateness. This eliminates handle reuse, a key methodology utilized by surveillance companies to trace person 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 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 subsequent 12 months on Silent Funds adoption with the aim of constructing an intuitive, seamless person expertise whereas additionally defending person’s monetary privateness.”
Bitcoin privateness depends upon utilizing new addresses, which regularly requires sender to receiver interplay. Present 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 is just not 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 fashionable pockets options
“My major focus will probably be coordinating growth and testing efforts inside the rising neighborhood devoted to integrating Silent Funds into desktop and cell Bitcoin wallets,” acknowledged the brand new grantee of Maelstrom Ron. “By advancing Silent Funds alongside BOLT12 and BIP-353, we purpose to reinforce privateness and simplify the person expertise, paving the best way for broader adoption of Bitcoin as a fee resolution.”
