November 30, 2018 12:00 am

Bitcoin/Bitcoin Cash Mimic DASH Anonymity Features

Two new wallets have been released, serving users of Bitcoin BTC and Bitcoin Cash BCH. These are Wasabi Wallet 1.0 and CoinShuffle respectively, and both debut new privacy features that closely mirror DASH’s anonymity service offerings. While both new features may bring near-perfect anonymity to BTC and BCH, some question the way in which anonymity was achieved, still touting DASH anonymity as the superior option.

Why is Anonymity Important in Cryptocurrency?

Obviously, some people want cryptocurrency to be anonymous so that they can use it as money without their transactions being recorded or traced. This is a problem for users of both Bitcoin and Bitcoin Cash. While it’s a persistent rumour that Bitcoin transactions are anonymous, they aren’t really. Bitcoin is considered pseydo-anonymous. Transaction records exist on the public ledger, and authorities can connect these transactions to specific persons if they have reason to.

But anonymity is more than simply a way to make sketchy purchases. An anonymously transacted currency is fungible currency, and fungibility is a necessary trait for all successful currencies.

When a currency is fungible, one unit of that currency is totally interchangeable with any other equivalent unit. A £1 coin is fungible with every other £1 coin, for example. Because Bitcoins are linked forever to their transaction histories, they’re not technically fungible. An individual could refuse to accept specific Bitcoins if they have been used in fraud in the past, for example. If transactions were truly anonymous, all Bitcoins would become truly equal and therefore fungible.

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Author: Coinlist
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