Wasabi, an open-source and non-custodial bitcoin wallet, has recently announced its plans to launch the Wasabi Wallet 2.0 to boost privacy.
In an official blog post on Thursday, the company stated that the Wasabi Wallet 2.0 would come with a full rewrite of its user interface with extra touches of modern design principles but not in a way that it completely changes the current features of the software.
The upgrade would feature the debut of its “long-awaited” anonymous credential scheme that is dubbed WabiSabi, which would strengthen the wallet’s security measures.
The WabiSabi protocol, according to the company, “will facilitate faster, more cost-efficient collaborative transactions without waste, lay the foundation for payments within CoinJoins, and open the door for combinations with other technologies.”
Additionally, the update will further improve user experience by making manual CoinJoining “a thing of the past or for power users only”. This suggests that the CoinJoins will be automatic and this would further increase the privacy of Wasabi wallet users’ transactions.
CoinJoins refer to processes whereby multiple payments from several people are combined into a single transaction, making it extremely difficult for any third party to track the payments to anyone.
It is imperative to note that the WabiSabi protocol will address some of the limitations that CoinJoining has in the original Wasabi Wallet. For instance, for the CoinJoin to work, each peer is required to contribute a specific amount of bitcoin to receive equal outputs with other peers.
However, with the WabiSabi protocol, each user is allowed to contribute different amounts of bitcoin, not minding the amount that other participants contribute.
The privacy offered by Wasabi wallet is the major reason why many users choose it. It is committed to providing much-needed privacy to bitcoin holders and the introduction of the Wasabi Wallet 2.0 would go a long way to further strengthen this privacy.
Wasabi 2.0 is a next-generation Bitcoin privacy wallet that will finally bring confidentiality within reach of any Bitcoin user, not just the technically inclined. Wasabi 2.0 may be Bitcoin’s last stand in the fight for becoming ‘good money’
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