Bitcoin Core

Bitcoin Cash Miner Jiang Zhuoer Answers Infrastructure Funding Questions

23/01/2020 by Idelto Editor

On Wednesday, Btc.top founder Jiang Zhuoer disclosed that five mining operations had plans to donate roughly $6 million in coinbase rewards (depending on market prices) to developers building Bitcoin Cash infrastructure. The news was met with mixed reviews as some of the specifics of the deal were scrutinized and the miner funding subject has been the topic of debate across the entire cryptosphere. On Jan. 23, Zhuoer discussed the developer fund idea in an Ask-Me-Anything (AMA) appearance on Reddit.

Also Read: Bitcoin Cash Sees Mining Pool Shift and Hashrate Surpass 4 Exahash

Bitcoin Cash Proponents Have Mixed Feelings About the Proposed Infrastructure Funding Plan

In the world of cryptocurrency funding developers has always been a controversial subject no matter where the money comes from. There have been many attempts to fund blockchain infrastructure development using a variety of schemes like founders funds, pre-mines, corporate and community donations, and miners contributing a fraction of their block rewards. On Wednesday, Btc.top’s Jiang Zhuoer published a post that discussed miner contributions to development teams working on Bitcoin Cash and he noted that “12.5% of [the] BCH coinbase rewards to a fund that will support Bitcoin Cash infrastructure.” However, the post also noted that the miners participating would use a tactic called “orphaning.”

“To ensure participation and include subsidization from the whole pool of SHA-256 mining, miners will orphan BCH blocks that do not follow the plan,” Zhuoer said. “This is needed to avoid a tragedy of the commons,” he added. Additionally, another aspect of the plan that a few individuals took issue with was the aspect of a “Hong Kong corporation” being initiated to legally accept and disperse the developers’ funds.

Btc.top Founder Jiang Zhuoer Answers Questions

On Thursday, Zhuoer appeared in an Ask-Me-Anything (AMA) post on Reddit in order to answer some of the questions about the proposed arrangement. There are hundreds of questions and comments littered throughout the thread and Zhuoer managed to answer a few questions about the plan. When asked whether small pools would be exempt from donating, Zhuoer said that “all mined blocks need to be donated, [or] otherwise this will lead to the tragedy of the commons.” “Some form of opinion organization is necessary,” the Btc.top founder emphasized. The pool operator continued:

Just like I said in the article, it is necessary ‘To cross the river by touching the stones.’ Miners donate to dev is necessary, but how to do it need to discuss and try.

Another Redditor on the r/btc post asked how the plan will succeed by orphaning blocks when currently there’s an unknown group of miners with a large portion of hashrate. The individual also asked if Zhuoer spoke with the development teams about the plan. “We have a lot of hashrate on BTC to make sure we can do it,” Zhuoer responded and added that the funds “would be used to pay for development contributions to full node implementations as well as other critical infrastructure.” A statement he previously made in the initial infrastructure funding plan announcement.

I don’t understand the arguments against the BCH developer fund.

– It’s not a tax. You’re free to mine on another chain.
– It cannot be a power grab because carrels are unstable (and this one is even time-limited).
– The Hong Kong company has all incentives in the world to be

— Tobias Ruck (@TobiasRuck) January 23, 2020

Zhuoer stressed that models like corporate donations are “neither fair nor decentralized.” “Companies that donate money may interfere with [developers] in the long-term (eg: Blockstream & Core),” the miner underscored. “It’s the best way for [developers] to get donations from coins. It’s actually from [the] coin, not from [the] miner, we need all miners to donate fairly,” he added.

My intuition is that not only will this cartel initiative go as planned, but that it will result in solid price gains for BCH and go down as one of the most important innovations in Bitcoin.

Voluntary, time-constrained, free market solution to one of Bitcoin’s greatest problems. https://t.co/RBhFbPYPCk

— Ⓥin Ⓐrmani (@vinarmani) January 23, 2020

The Btc.top operator also said that as of right now there are no definite management rules, but that the fund would be “managed by [the] main pools and miners of BCH.” Zhuoer was also asked if the group had contemplated proposing these changes as a hard fork rather than a soft fork. “This is under consideration,” the BCH miner responded. Zhuoer was also asked about the Hong Kong corporation that plans to manage the funds and he said the miners will ensure transparency and the effective use of all funds.

The pool operator also responded to people who said a “miner cartel” could form and lead to a hash war. “[A] miner won’t start a hash war to only get 12.5% more coins,” Zhuoer told the individual. During the end of Zhuoer’s commentary, he was asked if the plan was “set in stone” or if it was “still being discussed.” Zhuoer noted that “miners will donate [to developer] and this will not change — But [the] details may change.”

Amaury Séchet Speaks on the Infrastructure Funding Plan

On the same day as Jiang’s AMA on Reddit, Bitcoin Cash developer Amaury Séchet published a post about the funding subject on the read.cash platform. Séchet’s post notes that the funding idea is “great news” and the proposal was “a long time coming.” The software engineer stressed that the plan is “very interesting from a game theory perspective.”

“As the system grows, economic specialization took place and this is forcing us to think about the incentives that these specialized groups have to cooperate with each other,” Séchet wrote. He also replied to the accusations that the infrastructure plan was a “tax” when in his opinion he would argue that it is not a compulsory contribution. The BCH developer continued:

They are not forcing anyone to do anything. Other miners can mine another chain such as BTC, or even decide to mine a chain that will not fund the commons. What they cannot do is force Jiang to accept their block if they do so, or to force the market to value these blocks at a certain price, if at all. Jiang does not have this power either.

In Séchet’s blog post he concludes that he is “enthusiastic” about the funding plan and hopes the proposal can “yield very beneficial results to Bitcoin Cash.” The engineer did stress however that the details of the funding arrangement must be done right. “I think the proposed setup would inspire more trust from the community than a faceless corporation, which seems to be the major concern,” Séchet conceded. “I predict that if this is done right, the impact on Bitcoin Cash can be fantastic and will result in benefits for all ecosystem participants.”

If you are interested in reading Btc.top’s Jiang Zhuoer’s blog post about the funding in its entirety, you can find it here. And if you’d like to read Bitcoin ABC developer Amaury Séchet’s post about the subject, you can find it here. News.Bitcoin.com will surely be covering this story as it develops going forward.

What do you think about BCH miners donating to Bitcoin Cash infrastructure development? Let us know what you think about this topic in the comments section below.

Image credits: Shutterstock, Pixabay, Fair Use, Wiki Commons, Twitter, and the Bitcoin Cash logo.

Do you want to maximize your Bitcoin Mining potential? Plug your own hardware into the world’s most profitable Bitcoin mining pool or get started without having to own hardware through one of our competitive Bitcoin cloud mining contracts.

The post Bitcoin Cash Miner Jiang Zhuoer Answers Infrastructure Funding Questions appeared first on Bitcoin News.

Bitcoin Cash Miners Plan $6M Development Fund by Leveraging Block Rewards

22/01/2020 by Idelto Editor

A group of Bitcoin Cash mining pool operations have decided to help fund BCH infrastructure development. On January 22, Btc.top founder Jiang Zhuoer revealed that five mining pools are preparing a short-term developers donation plan. Miners from Btc.top, Bitcoin.com, Viabtc, Antpool, and Btc.com plan to give “12.5% of [the] BCH coinbase rewards to a fund that will support Bitcoin Cash infrastructure.”

Also Read: Bitcoin Cash Sees Mining Pool Shift and Hashrate Surpass 4 Exahash

Btc.top Founder Announces Bitcoin Cash Development Fund

Lately, there’s been discussions regarding funding BCH infrastructure development. The BCH community raised money last summer to go toward various BCH development teams. Now, five BCH mining pools have decided to donate funds from their coinbase rewards to engineering teams working on infrastructure. Btc.top founder Jiang Zhuoer disclosed the news on Wednesday and noted that it is “is impossible for developers to develop for free for long-term.”

However, he also highlighted that the “corporate donation mechanism has some significant problems.” Zhuoer’s example of corporate donations gone bad is Blockstream’s influence over Bitcoin Core’s development process “which has led to the centralization in BTC’s development,” the miner emphasized. Zhuoer’s blog post stresses that centralized development has hindered Satoshi’s plan.

“Only a few companies have taken the commitment to bear the costs for the community development, while other members are free-riders, causing a typical tragedy of the commons,” Zhuoer remarked. Btc.top’s founder added:

Therefore, although there is some controversy among miners for directing coinbase rewards to developers, it is undoubtedly a far better solution than a few corporate donors’ mechanism.

12.5% of BCH Coinbase Rewards for Six Months

Zhuoer then detailed that mining pool operators Btc.top, Antpool, Btc.com, Viabtc, and Bitcoin.com are in the midst of preparing a “6-month short-term donation plan.” “This plan aims to provide sufficient funds for BCH developers to accelerate the BCH development before the upcoming bull market in 2020–2021/22,” Zhuoer said. “To provide this funding, we intend to direct 12.5% of BCH coinbase rewards to a fund that will support Bitcoin Cash infrastructure. “This funding will last for 6 months, and it will provide significant and much needed support to the Bitcoin Cash ecosystem.”

The Btc.top founder also discussed the SHA256 mining ecosystem and the hash ratio between BTC and BCH and how things may proceed in the future. Additionally, Zhuoer talked about the estimated amount that could be raised depending on the price of BCH over time. “If we assume a current price of $300 per BCH, then donating 12.5% of the coinbase for a period of 180 days would total $6,075,000,” Zhuoer noted. “This plan provides a substantial sum that would have a positive impact on Bitcoin Cash and the cryptocurrency ecosystem.” The miner’s announcement also said that a “Hong Kong corporation” has been initiated to legally accept and disperse the developers’ funds. Zhuoer continued:

The funds would be used to pay for development contributions to full node implementations as well as other critical infrastructure.

The mining pool representatives who support the funding effort include Bitcoin.com’s Roger Ver, Antpool and Btc.com’s Jihan Wu, Btc.top’s Jiang Zhuoer, and Viabtc’s Haipo Yang. On Wednesday, BCH proponents discussed the funding news. “Sounds like a good solution to the issue of staying on track with what’s best for BCH,” one Redditor wrote on r/btc. “ I like the way they are doing these donations — Much love from a BCH user,” another crypto enthusiast remarked. Throughout the day and into the evening, the BCH funding topic has been trending online. Numerous crypto advocates debated the subject on Twitter and Reddit forums on Wednesday.

What do you think about BCH miners donating to Bitcoin Cash infrastructure development? Let us know what you think about this topic in the comments section below.

Image credits: Shutterstock, Pixabay, Fair Use, Wiki Commons, and the Bitcoin Cash logo.

The post Bitcoin Cash Miners Plan $6M Development Fund by Leveraging Block Rewards appeared first on Bitcoin News.

Bitcoin Cash Sees Mining Pool Shift and Hashrate Surpass 4 Exahash

22/01/2020 by Idelto Editor

Bitcoin Cash Mining Sees Pools Shift While Hashrate Surpasses 4 Exahash

While people have watched the BTC network surpass 100 exahash per second (EH/s), Bitcoin Cash (BCH) has been steadily gathering hashrate as well. Since the November 15, 2018 blockchain split, which produced the Bitcoin SV (BSV) chain, BCH hashrate has jumped by more than 3x. Bitcoin cash is often more profitable to mine than BTC and during the last seven days, the BCH hashrate has averaged around 4EH/s.

Also Read: Debate Ensues After 68% of BCH Hashrate Mined by Stealth Miners

Bitcoin Cash Hashrate Climbs Over 4 Exahash per Second

It’s been well over a year since BSV split off from the BCH network during the mid-November 2018 hash war. After a week or so, both chains saw hashrates drop below 1EH/s and there was a period of significant profitability changes between BTC and BCH miners. Since then, BCH miners have picked up the pace and are hashing far more than they did following the hash war aftermath.

Bitcoin Cash Sees Mining Pool Shift and Hashrate Surpass 4 Exahash — BCH hashrate on January 21, 2020. — Did you know you can earn BTC and BCH through Bitcoin Mining? If you already own hardware, connect it to our powerful Bitcoin mining pool. If not, you can easily get started through one of our flexible Bitcoin cloud mining contracts.

On November 15, just before the split, there was more than 5EH/s hashing away at the BCH chain, but that plummeted to its lowest point on December 17, 2018. Today, according to multiple hashrate recording websites, the BCH hashrate spiked over 8EH/s three hours ago, as recorded by fork.lol. The Bitcoin Cash network’s average during the last week has been around 4EH/s. This means that from mid-December until now, BCH has seen a hashrate increase of more than three times the daily average.

In fact, all three SHA256 networks have seen a hashrate rise since mid-December 2018. The BTC hashrate expanded from 32EH/s to this week’s 110EH/s average. Bitcoin SV (BSV) has also seen its network hashrate swell, as it jumped from 1EH/s to 3.3EH/s on January 21, 2020. Coin Dance also shows that BCH has been more profitable to mine in contrast to BTC for more than half of 2019.

For instance, at 12:15 p.m. EST on Tuesday afternoon, “it is currently 3.50% more profitable to mine on the Bitcoin Cash blockchain,” Coin Dance data informs visitors. Since the recent price spike, BSV has been more profitable to mine against BTC. At the time of writing, “it is currently 11.80% more profitable to mine on the Bitcoin SV blockchain,” says the Coin Dance SV website.

Satoshi Probably Didn’t Envision Three Competing SHA256 Networks

As the BCH network has seen a significant increase in hashrate, a large number of stealth miners have been hashing away at the network. News.Bitcoin.com reported on the topic in December 2019 and the trend has remained consistent. During the last week, BCH has had 49% of the network being hashed by unknown mining entities. In the last 24 hours, unknown miners captured roughly 57% of the network hashrate.

Since we published that mining report, a mining operation called Taal has appeared on the Bitcoin Cash network. On January 10, a stealth miner who at one time signed BCH block coinbases as “fezi3*,” changed the block signature to “taal.com/fezi3*.” Taal is associated with Calvin Ayre’s Squire Mining Inc. rebrand and BSV backers Craig Wright and Jimmy Nguyen are advisors for Taal. The name Taal is also the name of a volcano that just erupted near one of Ayre’s island villas. Just prior to advertising onchain that it was mining BCH, Taal implemented a concept called Miner ID.

All Three Networks Will See a Reward Halving This Spring

Alongside Taal, which captures 2% of BCH blocks today, there are nine other identified BCH pools mining the network. This includes Bitcoin.com, Prohashing, Okex, Huobi, Btc.com, Viabtc, Poolin, Antpool, and Btc.top. Seven of the known BCH mining pools today also mine the BTC chain. There are four BCH miners that mine the BSV chain and two of them mine on the BTC network. No one knows exactly why there’s a lot of stealth miners mining the BCH chain or why there’s been such a shift in mining pools. It’s anyone’s guess as to why BSV miners are mining the BCH chain as well and only the pool operators themselves know the moves they are making.

In the last three days, unknown miners from BTC have dipped to around 3% of the network, but a few weeks prior, BTC had more than 20%. BSV’s hashrate also has a high concentration of stealth miners hashing away at the chain. At press time there’s around 55% of unknown hash processing the BSV chain during the last 24 hours. Despite the uncertainty of why pool operators are stealth mining and the shift in hashrate on all three networks, a number of speculators believe the changes are due to the upcoming halvings. All three SHA256 networks will see a block subsidy reward halving in the spring of 2020 and miners may be steadily preparing for this event.

What do you think about the BCH network hashrate climbing more than 3x the number it held in mid-December 2018? What do you think about the changes and shifts between all three SHA256 networks with BTC and BSV included? Do you think these shifts have anything to do with the upcoming halvings? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Coin Dance, Charts.Bitcoin.com, Fork.lol, Wiki Commons, Fair Use, and Pixabay.

The post Bitcoin Cash Sees Mining Pool Shift and Hashrate Surpass 4 Exahash appeared first on Bitcoin News.

UK Tax Agency to Pay $100K for Blockchain Surveillance Software

21/01/2020 by Idelto Editor

On January 17, the UK tax agency Her Majesty’s Revenue and Customs (HMRC) published a job opportunity for a private contractor to design a cryptocurrency blockchain analysis tool. According to the listing, the contract is for one year and HMRC will pay the contractor $100,000 for software that can “identify and cluster crypto asset transactions.”

Also read: Britain’s Tax Authority Updates Crypto Guidelines

HMRC Wants a Blockchain Analysis Tool and Is Willing to Pay $100,000

Governments worldwide have been cracking down on cryptocurrency holders in order to make sure they are paying taxes. In the U.S., the country’s tax agency the IRS has initiated a broad stroke of tax enforcement against people who may own or at one time possessed cryptos. In the United Kingdom, HMRC has been following a similar path as the tax entity issued guidance for individual cryptocurrency holders in 2018 and then published more guidelines for businesses on November 1, 2019. HMRC’s updated crypto rules highlight the fact that they believe “individuals residing in the UK should file their tax obligations.” Despite the new guidelines toward cryptocurrency use, the tax authority’s rules are still not clearly defined and people still don’t understand their tax obligations. Nevertheless, just like the IRS and its confusing guidelines, HMRC plans to crackdown on tax evaders anyway.

On Friday, a representative from England published an advertisement for HMRC looking for a software engineer to build a blockchain surveillance tool. According to the employment listing, the contractor can work from “any region” remotely. The contract runs from January 2020 to February 2021 and the value of the contract is $100,000. However, a group of voluntary, community and social enterprise (VCSE) contractors cannot apply. Small to medium enterprises (SME) are allowed to apply for the position to build the official HMRC blockchain analysis tool. HMRC’s description states:

Provision of a tool that will support intelligence-gathering methods to identify and cluster Crypto asset transactions into linked transactions and identify those linked to Crypto asset service providers.

Governments Worldwide Aim to Combat Crypto Tax Evasion and Money Laundering

The tool must also de-anonymize blockchain activities by cluster analysis and identify confidence ratings in clusters. The tool needs to provide an “attribution of a cluster/address to a known commercial entity (exchange) or a known service provider (mixing service, gambling service, dark market, etc).” The platform must be web-based and offer a visualization of blockchain analytics in order to identify crypto-using suspects and build intelligence. At minimum, the tool needs to support blockchains such as BTC, BCH, ETH, ETC, XRP, USDT, and LTC. HMRC’s job application emphasizes that the tax agency would love for the tool to analyze monero, dash, and zcash as well. The contractor must also provide secondary training so other government employees can learn how to utilize the blockchain analysis tool. The crypto contractor will be paid via HMRC’s dedicated payment portal Ariba.

Additionally, the contractor applying for HMRC’s job has to fill out a lengthy security questionnaire as part of the blockchain tool proposal response. HMRC’s job application proposal cites that crypto assets are being used for “tax evasion and money laundering.” U.S. regulators, specifically Homeland Security Investigations (HSI), have been working with the IRS to tackle money laundering and tax evaders as well. In 2016, an affadavit revealed that HSI created a special task force to identify unlicensed bitcoin exchangers. Two years later, HSI published its 2019 fiscal year pre-solicitation documents which show the agency asked for money for blockchain analysis tools.

“This proposal seeks applications of blockchain forensic analytics for newer cryptocurrencies, such as zcash and monero,” the solicitation letter explains. “Blockchain forensic analytics for the homeland security enterprise can help the DHS law enforcement and security operations across components as well as state and local law enforcement operations,” states page 21 of the DHS solicitation letter. “Private financial institutions can likewise benefit from such capabilities in enforcing “know your customer” and anti-money laundering compliance.”

HMRC’s newly updated tax guidelines toward crypto-related activities note that most crypto asset operations are “taxable economic activity.” This includes cryptocurrency mining as well as buying, selling, and exchanging a digital asset for another type. Individuals and SMEs interested in HMRC’s blockchain analysis tool contract have until January 27 to submit a proposal alongside the security questionnaire. The UK tax agency’s employment listing shows that governments are actively searching for ways to de-anonymize crypto transactions. HMRC’s crypto analysis tool application underscores that the tax agency is there to make sure the collection of money pays for the UK’s public services. The contract proposal notes that the agency wants to “make it hard for the dishonest minority to cheat the system.”

What do you think about Her Majesty’s Revenue and Customs job listing looking for a contractor to build a blockchain surveillance tool? Let us know what you think about this topic in the comments section below.

Image credits: Shutterstock, HMRC application, Fair Use, Wiki Commons, and Pixabay.

Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with a credit card.

The post UK Tax Agency to Pay $100K for Blockchain Surveillance Software appeared first on Bitcoin News.

Bitcoin Cash Gets Significant Privacy Boost With Cashfusion Alpha Launch

21/01/2020 by Idelto Editor

Bitcoin Cash Gets a Significant Privacy Boost With Cashfusion Alpha Launch

On January 17, the BCH developer known as Acidsploit announced the launch of the highly anticipated Cashfusion alpha. Interested parties can reach out to the Cashfusion developers via the team’s Telegram group to become an alpha tester. The news of the launch excited the BCH community a great deal, as it means a significant privacy tool is coming to the Bitcoin Cash environment.

Also read: How to Create Custom SLP Tokens With the Bitcoin.com Mint

Bitcoin Cash Is Becoming More Fungible

During the last few months, there’s been a lot of chatter about the Cashshuffle protocol and the newest privacy-preserving concept Cashfusion. Since the inception of the original Cashshuffle project which launched on March 27, 2019, there’s been over 200,000 BCH shuffled. According to @Acidsploit’s data, that’s a total of 42,446 shuffles to date and daily recorded volumes show shuffling really picks up on the weekends. The developer’s Cashshuffle site also shows the number of Cashfusion transactions, and there are now 1,322 fusions at the time of publication. Cashshuffle leverages the Coinjoin concept, but there are still a few ways shufflers can leak data about their original addresses when they do things like spend change or consolidate funds.

Bitcoin Cash Gets Significant Privacy Boost With Cashfusion Alpha Launch — Acidsploit’s Bitcoin Cash Privacy Stats website notes there’s been 1,322 fusions so far and 42,446 shuffles.

Recently, former lead Bitcoin Core developer Gavin Andresen wrote about the issues with consolidating coins and spending change after using the Coinjoin-styled ethereum wallet Tornado.cash. Cashfusion, however, goes beyond the traditional Coinjoin idea because developers claim Cashfusion-based Coinjoin transactions can be done without the equal amount requirement. Electron Cash developer Jonald Fyookball published a paper about the combinatoric math in Cashfusion. A quote in Fyookball’s paper from software developer Mark Lundeberg states:

In Cashfusion, we have opted to abandon the equal-amount concept altogether. While this is at first glance no different than the old naive schemes, mathematical analysis shows it in fact becomes highly private by simply increasing the numbers of inputs and outputs. For example, with hundreds of inputs and outputs, it is not just computationally impractical to iterate through all partitions, but even with infinite computing power, one would find a large number of valid partitions.

The Bitcoin Privacy Game-Changer Cashfusion Is Here

Additionally, the privacy-centric Wasabi wallet developer recently complimented the Cashfusion project and said that if the math works it could benefit Bitcoin privacy significantly. “I am not convinced if this is true, but if it is, it’s a game-changer in Bitcoin privacy,” the Wasabi engineer tweeted. Then on January 17, after the Cashfusion developers teased the early software would be available soon, Acidsploit announced the Cashfusion alpha launch via the read.cash blog.

“The alpha version has been polished enough so that it can be used by power users to get an initial feel of the tool and to test the protocol for stability and robustness,” Acidsploit’s announcement revealed. “We are actively looking for more people to test,” he added. Interested people who want to test the early version of Cashfusion can do so by reaching out to the Cashfusion developers via the team’s Telegram chat group.

The developer also noted that the current alpha Cashfusion client leverages the following features:

Enable/Disable Cashfusion
Integrated TOR client
Monitor status
Coin target setting (number of coins, size of coins, random fraction)
Multi queueing
Self Fusion (temporary for better liquidity during testing)

The developer remarked that there are other features coming that are scheduled in the Cashfusion roadmap like the ability to track fused coins to determine the level of privacy. Two options for “smart coin choosers” are coming, such as avoiding the combination of tainted and non-tainted coins as much as possible and choosing properly fused coins when doing payments. Lastly, the engineer detailed the Cashfusion developers want to add a limiter on perpetual fusing. “When you join a Cashfusion (CF) transaction, you specify the inputs you want to join with and the outputs you expect,” the developer’s post notes. “When the transaction is built, you are asked to sign it [and] the client verifies that the CF transaction contains the inputs and outputs you specified. If that is not the case, your client will not sign the transaction and it will fail.” Acidsploit further stressed:

Cashfusion transactions are atomic, meaning when something goes wrong for a participant for whatever reason, the CF transaction will fail as a whole.

Throughout crypto forums and social media, the Cashfusion launch announcement was welcomed with open arms, as the protocol could benefit bitcoin cash fungibility a great deal. Bitcoin.com Executive Chairman Roger Ver excitedly wrote “Privacy on Bitcoin Cash” and was asked if the protocol would be implemented in a future version of the Bitcoin.com Wallet. “Absolutely,” Ver responded, while other BCH supporters discussed the importance of the alpha release. “Enhanced privacy and fungibility are the cornerstones of making BCH truly peer to peer cash, a place BTC never got to, and never will as it spirals into institutionalized custodial fed-chains,” one user wrote on Reddit. In addition to the launch announcement, Acidsploit’s read.cash post also has a step-by-step guide on how to use Cashfusion by utilizing the Electron Cash wallet.

What do you think about the Cashfusion alpha being released and added privacy coming to the Bitcoin Cash network? Let us know what you think about this topic in the comments section below.

Image credits: Shutterstock, Acidsploit, read.cash, Acidsploit’s stats pages, and

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Bitcoin Cash Gets Significant Privacy Boost With Cashfusion Alpha Launch appeared first on Bitcoin News.