In a pioneering move, Samourai, the privacy-focused bitcoin wallet, has revealed a BTC to XMR atomic swap feature aimed at revolutionizing onchain privacy in Bitcoin. Addressing the widespread issue of tainted change, also known as leftover unspent transaction outputs (UTXOs) remaining from Whirlpool Coinjoins, this could represent a monumental advancement in the cryptocurrency landscape.
Tackling the Tainted Change Problem
Samourai Wallet has unveiled a new capability allowing bitcoin (BTC) to monero (XMR) atomic swaps, offering a more discreet means of transacting. Atomic swaps enable two parties to exchange different cryptocurrencies without requiring a trustworthy intermediary. Samourai’s BTC to XMR atomic swaps enhance this by integrating a privacy-oriented approach.
Once in place, the system will grant users a more efficient way to handle tainted change, essentially UTXOs leftover from Whirlpool Coinjoins. This change or residual fragments of BTC can result in diminished privacy and be detected by blockchain surveillance programs. Samourai has collaborated with the Mysu wallet developer, Pokkst, on the atomic swap functionality.
Tainted or leftover change from Coinjoins has been an acknowledged issue for some time, and major brands supporting the Coinjoin scheme often overlook discussing the problem. Besides Samourai addressing tainted change concerns, the bitcoin cash (BCH) Coin Shuffle system was transitioned into Cashfusion for this specific reason. Some wallets also employ a method called “change output inclusion” to tackle tainted change.
Monero (XMR), a cryptocurrency with a focus on privacy, made its debut on April 18, 2014. Employing the Cryptonote protocol, Monero’s use of ring signatures, stealth addresses, and bulletproofs conceals the particulars of both the sender and recipient, ensuring transaction confidentiality. This makes XMR appealing to those seeking financial privacy.
The potential to facilitate BTC and XMR through atomic swaps offers the prospect of immediate, trust-free exchanges between the two digital currencies, eliminating the necessity for a middleman.
Although Samourai’s feature has received praise from the privacy community, several bitcoin (BTC) maximalists have critiqued it for utilizing monero (XMR). An X user going by the name “Platelicker” asked followers if Samourai should be “canceled.” Unfazed by the criticism, Samourai continues to develop the feature.
“No one influences our roadmap but us,” Samourai posted to X. “No one will bully us into submission. You’re either along for the ride or you aren’t. If you want off the ride, you better jump because we’re not slowing down for you. It’s as simple as that.”
The introduction of Samourai’s feature coincides with a period where enthusiasm for privacy features among cryptocurrency advocates has waned in recent years. Increasingly, influencers have compromised privacy to seek state approval or recognition and regulation of digital currencies like bitcoin (BTC). Anonymity-enhancing crypto tools have been relegated, privacy coins delisted from prominent exchanges, and a significant number of today’s crypto influencers and businesses embrace regulations and KYC as positive aspects.
What do you think about Samourai’s upcoming feature? Share your thoughts and opinions about this subject in the comments section below.
via Jamie Redman
0 comments:
Post a Comment