SwBratcher on Nostr: BitBox did a thing. Many Bitcoin services and users reuse a single address, ...
BitBox (npub1tg7…cxmt) did a thing.
Many Bitcoin services and users reuse a single address, compromising their privacy, as all transactions related to this address can easily be identified and analyzed.
Bitbox rolled out silent payments in an aim to solve these issues. They use static addresses intended to be reused, while transactions made to these addresses can only be identified by the sender and the recipient. For example, a charity could post their donation address publicly on their website without anyone being able to tell who donated, or how much. Exchanges could register your single silent payment address for all withdrawals without exposing this sensitive funding traffic.
Here’s their 1) intro and 2) technical breakdown:
https://bitbox.swiss/blog/understanding-silent-payments-part-one/https://bitbox.swiss/blog/understanding-silent-payments-part-two/The feature to securely make silent payments, including the correctness check in the BitBoxApp as described in this article, will be released soon in the next BitBoxApp version 4.45 with BitBox02 firmware version 9.21.
(Would love to see you peek in on this,
Foundation (npub1s0v…pq6j) , to see if it fits your ethos to help lead the greater ecosystem toward this type of privacy feature set.)
Published at
2024-10-18 04:49:24Event JSON
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"pubkey": "45904b28ffe0e5cb9132f9a08e976ed7f0fc57d8387781ea9c80f256c412c1b4",
"created_at": 1729226964,
"kind": 1,
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"content": "nostr:npub1tg779rlap8t4qm8lpgn89k7mr7pkxpaulupp0nq5faywr8h28llsj3cxmt did a thing. \n\nMany Bitcoin services and users reuse a single address, compromising their privacy, as all transactions related to this address can easily be identified and analyzed.\n\nBitbox rolled out silent payments in an aim to solve these issues. They use static addresses intended to be reused, while transactions made to these addresses can only be identified by the sender and the recipient. For example, a charity could post their donation address publicly on their website without anyone being able to tell who donated, or how much. Exchanges could register your single silent payment address for all withdrawals without exposing this sensitive funding traffic.\n\nHere’s their 1) intro and 2) technical breakdown:\n\nhttps://bitbox.swiss/blog/understanding-silent-payments-part-one/\n\nhttps://bitbox.swiss/blog/understanding-silent-payments-part-two/\n\nThe feature to securely make silent payments, including the correctness check in the BitBoxApp as described in this article, will be released soon in the next BitBoxApp version 4.45 with BitBox02 firmware version 9.21.\n\n(Would love to see you peek in on this, nostr:npub1s0vtkgej33n7ec4d7ycxmwt78up8hpfa30d0yfksrshq7t82mchqynpq6j , to see if it fits your ethos to help lead the greater ecosystem toward this type of privacy feature set.)\nhttps://m.primal.net/LZXe.jpg",
"sig": "244ada4232156f2bdce4dd90198d0b66b61af7acd43d7799b10b165c38aac83bbef1639b852fe8e86b017c4f23ca833e6b0607ddf45371b26d2efb9b011af91f"
}
