Cashshuffle is a service for Bitcoin Cash (BCH) users that enhances privacy for them and their digital assets. It’s a decentralized protocol that gets a bunch of coins from Bitcoin Cash users and mixes them up. The point in the mixing is to obfuscate the blockchain’s transaction history in such a way that even a serious analysis of the chain it’s thoroughly challenging to do.
So forensic analysis on a user’s transaction history becomes a nightmare, almost impossible. The service appeared about two weeks ago, and it’s already supported by several popular cryptocurrency wallets.
This kind of development speaks volumes about the type of loyalty and bullish sentiment that Bitcoin Cash has been able to instill in its users. Blockchain projects such as Monero (XMR) have privacy features hardwired into the blockchain, the network, and the token.
One would think that the easy way to go about keeping nosy individuals (or institutions) confused about the way you use your digital capital would simply be to adopt that kind of digital asset, at least in a transient exchange, and then go back to the cryptocurrency of your choice. But Bitcoin Cash holders seem to prefer to keep operating in BCH even if taking care of their privacy needs a third-party service.
During the two weeks in which Cashshauffle has been online, it’s gained a lot of attention and users. It’s shuffled 8,825 BCH tokens as per the data from last week, and it’s settled about 2.000 transactions. It’s proving popular.
“I shuffle all the time.”
Traction is on the new platform’s side. Those nearly nine thousand BCH tokens are worth USD 2,6 million in the market. It’s an impressive trading volume for such a short history. A BCH developer tweeted information about the total amount of Cashshuffle transactions since it went online and the number is 1,917. Early support from Electron Cash wallet hasn’t hurt either.
The new protocol is not your ordinary cryptocurrency shuffling service. The usual story for those is that you, as a user, need to trust the service not to lose your coins in the mixing process, and pay a fee, which is usually rather steep. Cashshuffle is way cheaper than any of its competitors. It’s open source, and the fact that none of the individual parties involved can know how inputs and outputs are related makes it safer than other similar products.
An alpha version was released on Electron Cash (EC) as a plugin extension. Now it’s a standard feature.
The security and code analysis consultants Kudelski reviewed the source code and the compiled software thoroughly as well. Their report was very encouraging. The firm tried to find any common vulnerabilities, bugs and to assess the code’s overall security.
“We did not find any critical shortcoming in these components,” Kudelski Security informed in the published audit. The firm added that,
“It seems that the Coinshuffle protocol and the Cashshuffle implementation provide a practical solution to the problem of mixing transactions without the risk of funds being stolen in the process.”
The BCH community helped Cashshuffle come true
Donations have been a big part in the funding, maintaining and improvement of the protocol. They’ve been critical in keeping the developers going and doing the excellent and innovative job they’ve done. Just in the last day or so, the Cashshuffle team has raised about USD 14.000,00 in donations from the community. Some of that came from the Bitcoin Unlimited development team in the form of 15 BCH units. That was yesterday.
And there’s even further progress. Jonald Fyookball, who serves as Electron Cash’s lead developer, announced that EC v 4.0.0 will include Cashshuffle and will be available for Windows, Mac OSX and Linux.
Mr. Fyookball was also vocal in thanking the community for their help in supporting the protocol. He also praised the developing team and all those who helped pay for the critical security audit. The EC’s 4.0.0 version includes new features such as coin control as well as additional logic that turn the wallet into a better tool for ensuring privacy.
Nilic the Grim (an EC developer) thanked some of the developers by name (Acidsploit, Emergent Reasons, Imaginary Username, Mark Lundeberg, Josh Ellithorpe, Clifford, and Calin Culianu) for their essential help with the freshest version. But he didn’t hesitate to say that most of the support came from the BCH community.
“This community is the MVP — Really I swear, so many people helped out from suggestions to testing to finding esoteric bugs, to organizing stuff like the audit and finding funds for it — It was a community effort beyond the devs 100%.”
The BCH community loves the new Cashshuffle protocol because of the new and unprecedented level of privacy it guarantees for the BCH environment. Amaury Sechet, one of Bitcoin’s ABC leading developers, thanked the EC developers as well for the great work they did and assured them and the community that the voyage is only beginning “There is more to do before that thing is as secure as it could be given the auditability of the chain.”
Other BCH fans have hailed the new protocol as a real pioneering effort that puts the BCH network right on the limit of the Cryptosphere’s most advanced technology. The amount of support, the rapid expansion of the user base, and the money the project has collected in donations seem to support the good vibes about the project.
Image courtesy of Pixabay.
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