Amidst Halving, Bitcoin Cash (BCH) to Start Supporting Anonymous Transactions

Being anonymous online is one of the most important things everyone wants to achieve. It goes, especially to cryptos. Soon, one of the largest forks of Bitcoin will receive the function of obfuscating transactions, increasing the level of anonymity. The Bitcoin Cash (BCH) cryptocurrency community is one step closer to yet another layer of anonymity thanks to a new technology called CashFusion.

According to the technology description on GitHub, CashShuffle is a tool for tangling BCH transactions. The technology provides a high level of confidentiality thanks to a flexible scheme that allows for an arbitrary number of inputs and outputs of non-standard amounts within each operation on the blockchain.

Now Bitcoin Cash is a pseudo-anonymous ecosystem in the sense that when a user transacts using 

BCH, he essentially uses a “false name”, that is, a public address. In the real world, for example, when someone uses their credit or debit card, they make transactions using their real name, written directly on the cards themselves and tied to accounts that are recorded in financial institutions.

Practical example

The most anonymous transaction option is the physical transfer of funds from hand. In this case, the recipient of funds does not have a way to find out who is the initiator of the transaction or to link these funds to any other transaction that was made with this money before.

Now all operations with Bitcoin Cash are somewhere in the middle between the above methods of transferring funds. When conducting a transaction, a “false name” is used; however, any BCH sent or received by any particular address can be associated with the owner of this same address in the tree-based system of transaction operations. Using the CashFusion protocol, this problem can now be solved.

Community requirement

The idea of ​​integrating an additional level of anonymity turned out to be so in demand that instead of the required $50,000, a custom audit of the CashFusion protocol from Kudelski Security, an analytical firm, raised more than $70,000.

The demand for anonymous cryptocurrencies, despite the ambiguous attitude towards them on the part of regulators and crypto exchanges, is growing every month. There has also been the case that the creator of the Grin cryptocurrency project focused on anonymity. David BURKETT presented an update to the plan for integrating the MimbleWimble (MW) protocol into the Litecoin (LTC) cryptocurrency.

Burkett announced his intention to introduce non-interactive transactions based on MW, which was previously impossible, having decided, as a result, a significant user barrier that opens up more confidential opportunities on Litecoin.

Image courtesy of The Merkle