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Japanese Crypto Startup Released New Feature for Enhancing Bitcoin Wallet Privacy

By Shannon Wilson | June 10, 2020

Crypto startup from Japan Freessets has reportedly disclosed details of a new technology which looks to make Bitcoin wallet (BTC) more private. 

Specifically, Freessets has reportedly built a solution which enables addresses’ Bitcoin balances request feature in crypto wallets, that does not require any revelation to the servers from which they request the balances or transaction history.

Conventional Bitcoin wallets reportedly tend to request servers for their addresses’ balances, which creates a connection among the balance, transactions and addresses.

Nonetheless, “using the technology Fressets has developed, it is mathematically proven that the servers cannot learn anything from the user’s query”, the report further read. 

Adam Ficsor – CTO of privacy-enhancing Bitcoin wallet Wasabi reportedly shared his excitements regarding the new update. Bitcoin wallet Wasabi also has the function as the one just rolled out Freessets, but reportedly claimed that their solution does not require as much bandwidth, and is more compatible with mobile devices.

“Any improvement in making privacy more efficient is significant and needed” Ficsor further remarked. 

Ficsor further predicted that the new development could reportedly result in a loss in the transaction history, during the process of recovering preexisting wallets, and he is not fond of the Freessets’ move to design its technologies in a proprietary manner. 

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