Cake Wallet Introduces PayJoin v2: Enhancing Bitcoin Privacy for Users
Cake Wallet, a leading non-custodial open-source cryptocurrency wallet, has rolled out PayJoin v2, marking a significant milestone as the first major mobile wallet to introduce Bitcoin silent payments to everyday users. This pivotal integration entails a protocol upgrade that revolutionizes blockchain surveillance by mixing transaction inputs from both the sender and receiver, thus undermining conventional surveillance techniques relied upon by chain analysts.
In a statement, Vikrant Sharma, CEO of Cake Wallet, emphasized the importance of privacy in Bitcoin transactions, stating, “Bitcoin is open and permissionless, but without privacy, it becomes a surveillance tool.” The latest upgrade empowers users to conduct transactions privately without the need for both parties to be online or run a server, simplifying the process and enhancing user experience.
Cake Wallet’s implementation removes the requirement for both parties to be online or manage a server to facilitate a transaction. Through asynchronous, serverless PayJoin transactions, users can seamlessly send and receive Bitcoin without the necessity of Tor, specific apps, or intricate configurations. This move makes Bitcoin privacy more accessible to a wider audience, including individuals who may not be developers or expert cypherpunks.
This development comes on the heels of Cake Wallet’s recent support for Silent Payments, enabling users to receive Bitcoin without exposing a reusable address. By continually enhancing privacy features within its platform, Cake Wallet is setting a new standard in user-centric cryptocurrency transactions.
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