Maelstrom has announced that Ron, also known on the internet as “macgyver13,” According to a release forwarded by Bitcoin Magazine, the Maelstrom Bitcoin grant program has awarded the fourth award. Ron Silent Payments as suggested in Bitcoin Improvement Proposal 352.
“We are excited to be financially supporting Ron, in his mission on integrating Silent Payments into Bitcoin wallets,” Arthur Hayes, CFO at Maelstrom. “Many merchants and users want to provide/display a single static address that doesn’t change, which is an important, valid and simple use case. With Silent Payments this can still be done, while on-chain address re-use is avoided. Address re-use is a goldmine for the surveillance organisations, and at Maelstrom, we want to help put a stop to it.”
Silent Payments were proposed by Josie Baker, Ruben Sommesen in September 2023. The system allows you to have a unique, static email address that can be shared with your friends or used for donations. It also lets you post tips. It eliminates the address re-use, which is a method that surveillance companies use to track users’ behavior.
“With many software projects, and perhaps even more so in Bitcoin, taking an idea from a proposal to a fully adopted solution is the hardest part,” Josie said. “In the short amount of time I’ve been working with Ron, I’ve been thrilled at the progress we’ve made and I’m excited to work with him over the next year on Silent Payments adoption with the goal of making an intuitive, seamless user experience while also protecting user’s financial privacy.”
Bitcoin Privacy depends on the use of new addresses. This often involves interaction between sender and receiver. Existing static addresses methods use notifications which increase costs and leak data. Silent Payments eliminates interaction as well as notifications, but wallets must scan the blockchain. Security of Multi-party Input hasn’t been tested yet.
Silent payments aim to be implemented:
- Cost of transaction is zero
- There is no linkage between payment and address static
- There is no need to interact with the receiver
- Compatible with modern wallets and privacy features
“My primary focus will be coordinating development and testing efforts within the growing community dedicated to integrating Silent Payments into desktop and mobile Bitcoin wallets,” The new grantee for Maelstrom Ron was announced. “By advancing Silent Payments alongside BOLT12 and BIP-353, we aim to enhance privacy and simplify the user experience, paving the way for broader adoption of Bitcoin as a payment solution.”
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Source: bitcoinmagazine.com
