Wasabi: the creator of the wallet talks about privacy
Wasabi: the creator of the wallet talks about privacy
Crypto

Wasabi: the creator of the wallet talks about privacy

By Amelia Tomasicchio - 8 Jul 2019

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The creator of the Wasabi Wallet recently stated in a tweet that, in terms of privacy, his Wasabi wallet is like a “temporary hack” due to the lack of privacy of the Bitcoin blockchain.

Wasabi allows merging several transactions using the so-called CoinJoin functionality. This makes it difficult to trace transactions and amounts of transactions, but has limitations, for example sending a maximum of 0.1 BTC. 

In addition, using the Wasabi wallet increases the fees, due to the so-called trilemma, reaching even double-digit amounts.

In the tweets, the creator of Wasabi also points out that privacy coins like Monero (XMR) are much more effective than Bitcoin and that if a user would like optimal privacy, then he should rely on that blockchain.

The Trilemma Blockchain

Much has been said about the subject of anonymity in the blockchain area, but this often involves either higher fees or greater centralisation. 

It is a term coined by the founder of Ethereum, Vitalik Buterin, and it means that it is almost impossible to get a blockchain that is equally scalable, decentralised and secure. Every time it focuses on one of these aspects, one of the other two would certainly fail.

wasabi wallet privacy

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and she is writing a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector.

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