The privacy-centric Bob Wallet will now offer its users to transfer BTC and BCH from a public wallet to a private wallet in a private manner.
As blockchain surveillance has increased tremendously cryptocurrencies have become incredibly popular due to their anonymous nature. Companies including Chainalysis and Elliptic and many other organizations are surveilling public blockchain networks such as Bitcoin Core (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). But a developer decided to make a wallet that will help bitcoin transaction be more fungible and make it more difficult for transaction tracking procedures.
Bob Wallet Adds Bitcoin Cash Support
The open source project Bob Wallet is a unique type of wallet that doesn’t let users make payments to others, its only purpose being the transfer of funds from your public wallet to a private wallet in a remote fashion.
At current, the Bob Wallet project is in its beta stage and should only be used in Testnet for the time being until the software is thoroughly tested, according to its developers. On July 2nd the Bob Wallet exchange added bitcoin cash (BCH) support for its platform, so BCH owners can experiment with the mixing service through BCH Testnet coins. Users can check out the Bob Wallet website or drag and drop the ‘bobwallet.html’ into a browser to create a new Bob Wallet.
“Bob Wallet is not a traditional bitcoin wallet,” reads the Github repository of the developer. “You cannot use it to make a payment to someone else. Its only purpose right now is to move your bitcoins from your public wallet to your private wallet securely without anyone knowing your private Wallet addresses.”
You will have to use a separate bitcoin wallet after your bitcoin has been made private in order to spend them — Ideally, use a full-node for your private wallet because 3rd-party balance queries can de-anonymize you. This transfer happens by joining together all other Bob Wallet users in order to create a single transaction called a Coinjoin — Your bitcoin cannot be stolen since only you own and control your wallet keys and no one can determine your private wallet addresses.”
Privacy Focused Features for Bitcoin Cash
The Bob Wallet team has been actively creating the privacy sending tool and say there are no additional fees for the service, apart from the standard miners’ fees required per mixing round. A round can be as long as 15 to 60 second per round, and if there are more active Bob Wallet participants then the addresses become more private.
For the moment, there are not many privacy-centric choices for bitcoin cash users so Bob Wallet’s latest addition was welcomed by the community. BCH supporters can make tests with the Cash Shuffle plugin for the Electron Cash wallet.
“No need to download, compile, or configure a complex program — It’s as simple as visiting a website — This makes it fully cross-platform on any device,” the developers note.