The open source, privacy-focused Bob Wallet has started accepting Bitcoin Cash (BCH) alongside Bitcoin (BTC) starting July 2. Now, the users of this platform can use as well as experiment BCH Testnet coins with the mixing service. With the help of Bob Wallet’s public Block Explorer, now it is easy to track down the Bitcoin transactions from one address to the other. As of now, the Bob Wallet project is in beta form.
Bob Wallet conceals BCH, BTH transaction details
In the last few years, the popularity of cryptocurrencies has soared in a big way. Simultaneously, the surveillance of blockchain has also grown massively. So, now there are so many people who are snooping around to track down publicized transactions on blockchain platforms. Companies such as Elliptic and Chainalysis and similar other organizations are constantly monitoring popular blockchain networks such as Ethereum (ETH), Bitcoin Core (BTC), and Bitcoin Cash.
For a large number of crypto traders, privacy is an important thing while they openly trade in the virtual currency ecosystem. These are the individuals who want to avoid being watched by the deep state and rely heavily on the private transactions. As per the demand, some of the developers have designed specific tumblers and Bitcoin mixers that conceal the transactions of digital assets recorded on blockchain-based public platforms.
Bob Wallet is a similar type of specific project that provides privacy-focused feature enabling users to move BCH and BTC secretly from a public to private wallet.
Bob Wallet is a lot different from traditional BTC wallet
According to Bob Wallet’s Github repository,” Bob Wallet is not a traditional bitcoin wallet. You cannot use it to make a payment to someone else. Its only purpose right now is to move your bitcoins from your public wallet to your private wallet securely without anyone knowing your private Wallet addresses.”
The repository states that the user will have to use a separate wallet of BTC after his Bitcoin has been privatized for spending. Ideally, the users must use full-node for transacting via private wallet as the queries related to the third party can take off anonymity cover. When all the Bob Wallet users are joined together for completing a single transaction it is called Coinjoin. In this way, a user can prevent his Bitcoin from being stolen as only the owner can control the wallet keys.