At Building on Bitcoin 2018, Wasabi Wallet, a privacy-centric Bitcoin was revealed. It is a desktop wallet for bitcoin users who are worried about permanently writing their financial history to a public blockchain.
The wallet was developed by Adam Fiszor who also made HiddenWallet. In fact, Wasabi is a new implementation of HiddenWallet but launched under a new company named zk-SNACKs. The wallet has been rewritten from scratch to add a variety of new features.
It implements a trustless Bitcoin mixing technique, called Chaumian CoinJoin and enforces a constant 100 anonymity set. This means waiting for peers may take a long time until liquidity catches up, no anonymity system used today in any cryptocurrency comes close to this number.
Wasabi is also a light wallet, so users can run it without a full node. However, unlike most light wallets, it does not leak your data to network analysts.
When asked about the nature of their light wallet, Ficzor said:
“This is the only truly light wallet that is already deployed and that does not fail against network analysis, thus protects your privacy against network observers.”
Basically, Wasabi Wallet prohibits blockchain analytics firms and similar entities from spying on the user’s bitcoin transactions by automatically mixing their coins with other users’ funds when a transaction is initiated. This will make it much more difficult for an observer to decipher the sender and recipient of specific payments. However, unlike most mixing services, Wasabi accomplishes all of this without the help of a centralized coordinator, ensuring that there is no single point of failure.
Given below are some notable features of Wasabi:
- It is open source and cross platform, so it works on every desktop architechture: Linux, OSX, Windows.
- It is an HD wallet, it uses BIP84 derivation scheme, so it can only generate bech32, native segregated witness addresses.
- The only truly light wallet that is already deployed and that does not fail against network analysis, thus protects your privacy against network observers. We achieve this by implementing a BIP157–158.
- The Tor anonymity network is integrated and the wallet cannot be used without it.
The Beta release is scheduled on August 1st while the full version will be launched on October 31st, which coincidentally is the 10th anniversary of Satoshi’s Bitcoin Whitepaper.