Cashshuffle Bitcoin Cash Privacy Protocol is Close to Ready, to Raise Funds on Bitbacker for Security Audit
The world of cryptocurrency has survived this far owing to features such as privacy whereby users are protected from authorities or other regulators in pursuit. Bitcoin Cash (BCH) is the latest blockchain project to embark on the development of a private protocol which is designed to reshuffle for secrecy. At the moment, the security audit on this ecosystem is being planned for and a fund has been launched on Bitbacker.io for this purpose.
Cashshuffle Innovation Audit Funding
This protocol is open-sourced and consists of efforts from Bitcoin Cash developers and programming from the Electron Cash team. The Cashshuffle innovation is designed to leverage the ability of servers in mixing the BCH UTXOs. Basically, the reshuffling of crypto coins makes it hard for 3rd parties to track hence evading any challenges with authorities.
According to New.Bitcoin.com, the Cashshuffle project is almost being completed as per the statements of a contributing participant, Josh Ellithorpe. Furthermore, the funding platform on Bitbacker.io is barely two days old and has started receiving BCH contributions. The fundraising post by Ellithorpe shows optimism for this soon to be a milestone;
“Getting ready for the Cashshuffle security audit from Kudelski Security — Can’t wait to finally release a mature privacy solution for BCH,”
Cashshuffle has been in play since 2017 when the idea was relayed to crypto enthusiasts. This marked the beginning of this project which has been experimented on using Bitcoin Cash wallet plugins so far. As it stands, the open sourced Cashshuffle protocol is hosted in its website with the aid of plugins.
Jonald Fyookball, the developer of Electron Cash, emphasized the importance of crypto privacy;
“Privacy and fungibility go hand in hand and are vital for cryptocurrency — free people living in a free society should have a right to privacy without fearing the state peering into their personal finances,”
The Bitbacker.io fundraising for the Cashshuffle security audit remains the final step for this milestone to be undertaken. Josh is convinced that once the target is accomplished this will happen in less 30 days and this protocol can go live!
Cashshuffle; A potential Crypto Privacy Protocol
Once the security audit is complete, Cashshuffle will take its services to a new level. This means that interested users will be able to access it as a default installed within the Electron Cash digital currency storage. In addition, the services will be extended to mobile users and light customers in the near future. The team behind this development have consistently provided updates on the progress with plugin launch marking one of the big milestones for them.
Plugins For Cashshuffle
This innovation came when the industry was dealing with the challenges presented by crypto-centric tumbles and the shuffle of networks to alter the liquidity. The Cashshuffle team created a PoC automatic bot to alter liquidity through shuffling when the ecosystem has a few contributors. Other plans include the development of a scheme to incentivize participants who want to engage in this network.
A notable advantage of the open source shuffle network is possible implementation with other Bitcoin Cash light customers that include BTC.com digital storage. A good number of the BCH crypto community are impressed with this fungibility idea’s progress and soon completion. This has pushed them to contribute towards the security audit for the project’s completion.