Bitcoin is by definition, virtually anonymous – but for some people there’s still not enough privacy integrated into Bitcoin’s innateness , due to the public blockchain that records every transaction, associated with every Bitcoin address.
Which is why there’s been an attempt to make it even harder to trace Bitcoin transactions. Enter the “Dark Wallet”, created by unSystems, with Cody Wilson, a prominent member of the group, claiming,
“We want to encourage and embolden the entrepreneur who is working outside of expressed state-sanctioned systems”, before cheesily pronouncing, “Let there be dark.”
Indeed, Cody Wilson is no stranger to controversy, he’s proud to be the creator of the world’s first ever 3D-printed gun. Perhaps it fires balls of mozzarella as well…
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Crowd-funded via Indiegogo to the tune of $50,000 last year, Dark Wallet is installed on to a browser such as Mozilla Firefox or Google Chrome as an open source extension / plug-in, entailing all the usual features of a traditional Bitcoin wallet (e.g. send/receive/store Bitcoins), except it adds further layers of privacy by using a method called CoinJoin, which combines a payment with another random payment under a single transaction.
On their website, unSystem say,
“This is fully experimental and bleeding edge concepts put together into a wallet, whose initial 3-4 months development has been funded by a crowdfunding where more than 1000 people from around the world put money forward to make this happen. We have made a wallet that will make use of new mechanics to better preserve the financial privacy and freedom of users.”
Right now the Dark Wallet plug-in is in Alpha, with developers citing caution due to it’s potential instability.