Bitcoin Privacy

Fedimint combines distributed custody with blind-signed ecash tokens to let Bitcoin users transact privately. --- Despite its growth, Bitcoin still needs some limitations to reach mass adoption as a fully censorship-proof payment network. One of them is privacy. Bitcoin’s ledger is open and public, meaning anyone can track another person’s transactions if they know his public address.  The other is a custody problem. While wallet software UX has improved considerably, many Bitcoin holders still store their assets with custodians,  exchanges,…

In Japan, a cryptocurrency company Freessets has announced a new technology for the enhancement of Bitcoin wallet privacy. The top enterprise cryptocurrency wallet provider came up with the new technology using a protocol in cryptography known as Private Information Retrieval (PIR). The technology was implemented using a customized version of Microsoft SealPIR which is among the PIR implementations. Microsoft SealPIR uses Microsoft SEAL, which is an entirely homomorphic encryption library. Based on the announcement on June 8, it is now possible for…