The popular hardware wallet, Trezor, is working on providing its users’ privacy.
In its desktop app “Trezor Suite,” the cold wallet service provider has implemented the privacy project Tor to allow its users to obscure their connection.
Tor is an open-source network which has its servers distributed around the world run by volunteers and uses a special protocol that encrypts data at multiple levels. One can now not only enjoy the safety of the hardware wallet but the anonymity of Tor as well on Trezor.
“Tor is the perfect match for users who are concerned about sharing identifying data with a third-party service or anyone who might be observing their communications,” said Trezor in its announcement.
By downloading the latest public beta version of Trezor Suite, one can start using Tor with Bitcoin and other cryptocurrencies. Currently, The Tor switch is only available in the desktop app, located in the top-right of the Suite window.
Used by the likes of whistleblowers such as Julian Assange and Edward Snowden to evade espionage from the US governments and from journalists, security specialists, governments to individuals worldwide, Tor has helped protect human rights and individual freedoms.
Encrypted messaging app giant Telegram has rolled out a desktop test wallet for its testnet of the yet to be released crypto network, Telegram Open Network (TON).
According to CoinDesk, the test app is now available for download for Linux, macOS as well as Windows. Interested individuals can access the app from Telegram’s website and they will be able to create a wallet as well as a set of private keys. In addition, users will be able to get and send test Grams, however, at the moment, the wallet will not hold anything of value.
Currently, the test wallet can only accept Grams as it is not indicated whether other cryptos are supported. Users are awarded from 5 to 20 Gram tokens by a bot to transact.
Telegram started a blockchain project and dubbed it TON and went ahead to get funding of $1.7 billion through a private token sale in 2018. Telegram went ahead and told the investors the network would be launched before Oct.31. In this case, the releasing of the Test Gram Wallet seems like a plot to beat the deadline.
Telegram’s plans to launch TON has been put in jeopardy by SEC after it was sued by the regulator saying that the token was equivalent to security. The regulator pleaded with the courts to stop the selling of the Gram token. Telegram has insisted that the token is not a security and has asked the court to set aside the ban.
In the recent past, Telegram and the regulator have come into an agreement where Gram tokens will not be distributed until the court has heard and determined the case which will take off in February.
Telegram has since received relief from investors after they agreed to postpone the selling of the Gram token to April 31, 2020, giving the company enough time to settle issues with the SEC. it turns out that Telegram has a lot to do to convince the regulator that Gram is not a security token or risk returning the $1.7 billion to investors.
Author: Joseph Kibe
Wasabi was first launched as “an open-source, non-custodial, privacy-focused,” Bitcoin wallet for desktop uses.
It implements, a trustless method for combining Bitcoin payments from multiple spenders, typically referred to as coin shuffling – a service offered by CoinJoin.
At the time of launch, the Samourai team behind Wasabi deemed this implementation as increasing one’s privacy as the number of participants go up. However, a recent update from the Wasabi team seems to be concerned by CoinJoin’s lack of privacy reports Coin Telegraph. The company was referenced saying the following:
“With Wasabi, if you are mixing 10 BTC [Bitcoin], I can trivially track that 10 BTC as it is peeled down into smaller UTXOS (unspent funds) […] Additionally, Wasabi outputs are in the order in which they are registered, allowing you to make educated guesses that cluster outputs that you can later cross reference when inputs are inevitably merged to make a spend.”
As per a Wasabi’s executive, who goes by ‘SW’, in “Wasabi’s implementation of ZeroLink there is routinely 30 to 60% of inputs issued from the same, previous transaction,” and this is what causes a reduction in anonymity.
The anonymity feature supposedly gets lost, as traders remain in the entirety of the mixing (of transactions) process. It was further noted that:
“When viewed holistically and crucially with lack of PostMix spending strategy these architectural differences have serious consequences when common user behavior intervenes.”
SW believes that more emphasis needs to be placed on coin control techniques to ensure that anonymity is not compromised in any way.
[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.
Author: Nirmala Velupillai