In a major breakthrough for Bitcoin users, Breeze Wallet will introduce new transaction privacy features.
Stratis announced the news saying that Breeze Wallet will be releasing the new features shortly.
Breeze Wallet is the Bitcoin wallet that has been developed by Stratis, a blockchain platform startup.
Breeze Wallet will offer a Bitcoin wallet for personal computers along with a new tumbling option.
The TumbleBit tumbler will be used for connection and the users of Breeze Wallet can mix coins in a truly trustless manner, without trusting the tumbler and without losing their privacy.
The announcement notes that the new Breeze Wallet will bring in innovations using TumbleBit for Bitcoin as well as Stratis, resulting in privacy improvements due to the introduction of the Full Block SPV system.
Stratis is a startup based in the UK offering solutions for developing, testing, and deploying blockchain applications.
It maintains its own Stratis blockchain and also creates tools for other blockchains, such as Bitcoin and BitShares.
One of the projects includes the Breeze Wallet, holding Bitcoin as well as Stratis tokens.
The CEO at Stratis, Chris Trew, discussed the project with Cointelegraph and shed light on the innovative feature.
Stratis has created the new Bitcoin wallet after making several components for digital currency wallets to enhance the protection of privacy for Bitcoin users.
Trew states that protection of privacy is a major factor or problem in the cryptocurrency game, as cryptography provides the backing for the safety of the system.
He stated that the new Wallet will offer users a better privacy level in comparison to other Bitcoin wallets.
The new features will bring in end-to-end privacy solutions for users of Bitcoin and Stratis alike.
The Bitcoin wallet will introduce the Full Block SVP (Secure Payment Validation) System.
Breeze Wallet is now moving on to the next level and is considered as an ambitious project.
There have been several modifications made to the components and the features of this blockchain project.
Today, Stratis offers a Bitcoin wallet that takes privacy to the next level.
The privacy features will be useful not only while making transactions, but also while connecting with the network and while downloading the blockchain data.
Bringing in TumbleBit
TumbleBit, a privacy advancement project that is built over Bitcoin, will be used for the new Breeze Wallet.
The new wallet is seeking to bring in a combination of the TumbleBit solutions and the Full Block Secure Payment Validation System’s privacy features.
The privacy protocol will be completely decentralized and trustless, bringing full compliance of financial services regulators.
According to Trew, the TumbleBit solution is very suitable for the Breeze Wallet noting that the former offers private and unlinked Bitcoin transactions.
None of the participants or the tumbler will have access that will let them steal the coins and none of them can deanonymize the transactions of the user.
TumbleBit makes use of off-chain transactions, so there is no possibility of linking them either by Tumble or any other participant.
Moreover, the transactions can be conducted without any changes being made to the Bitcoin protocols.
Furthermore, using TumbleBit enables all users to set up their payment channels using one intermediary, so that all participants can transfer Bitcoin using the intermediary.
No Forks Required
The Bitcoin Wallet will be released soon and will probably be the first to offer privacy solutions in a blockchain transaction while still working with the Bitcoin protocols and without needing any forks.
TumbleBit offers a natural matching, as it has the same programming language.
Transactions within Seconds
By using TumbleBit for the wallet, person A can send a Bitcoin payment to person B faster with the transactions being completed within seconds.
Trew explained how many ideas were considered before they decided upon TumbleBit, and that the latter was completely compatible with the protocol of Bitcoin.
The Stratis team had evaluated several technical options for offering a completely private and trustless solution, meeting the requirements of businesses and consumers all over the world.
However, due to the technical challenges posed by the new Bitcoin Wallet, it won’t be available as a mobile wallet anytime in the near future.