Bitcoin Cash Becomes The Second Crypto To Be Supported on Bob Wallet
Privacy-centric Bob Wallet recently added Bitcoin Cash (BCH) support so BCH users can use BCH Testnet coins and experiment with the mixing service. The Wallet was created to help preserve Bitcoins fungibility. Today it is easy to trace bitcoin transactions from address to address by simply using any public Block Explorer. Bob Wallet helps fix this.
The open source project doesn’t allow you to make payments to others as its only purpose is to allow the movement of funds from your public wallet to a private wallet in an isolated manner. The project, which is currently in Beta should only be used in Testnet for now until the software is thoroughly tested. Users can visit the Bob Wallet website or drag and drop the ‘bobwallet.html’ into a browser to create a new Bob Wallet.
The developers released an official statement saying: “Bob Wallet is not a traditional bitcoin wallet, 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.”
For now, there are not that many privacy-centric options for bitcoin cash users so the development of projects like Bob Wallet is welcomed. BCH proponents also have the ability to experiment with the Cash Shuffle plugin for the Electron Cash wallet. Bob Wallet wants to make bitcoin transactions more fungible in a very simple way.