What is Cashshuffle and why is it important? How does Cashshuffle work?
One hears it often regarding privacy. A popular app introduces a clever or convenient feature that requires the use of personal information. A new revelation becomes public on the abuses of government surveillance or violations of privacy. These are the circumstances lead people to say, “I ain’t got nothin’ to hide“.
Satoshi Nakamoto called Bitcoin pseudo-anonymous. This is because transactions occur and create records with addresses that don’t include names. By looking at the public blockchain ledger, one can see the balance and activity for any given address, but not the name of the owner associated with the address (BCH Rich List). The combination of blockchain analysis tools and KYC and AML compliant companies have made the blockchain nearly completely public.
But BCH in particular is concerned about being a currency. This is important because, currency must be fungible. A currency is not fungible if the history of transactions makes one element of the currency more or less valuable than another element. For example, if some BCH was used in a crime, then a person may not desire that particular BCH as much as some BCH that had a clean history, because possessing the ‘tainted’ coins may bring unwanted attention to the current owner.
Bitcoin community awareness on the privacy issue existed before I even discovered Bitcoin. Therefore, developers suggested and implemented various solutions to this privacy problem. A solution for BCH that I recently heard about is the CashShuffle tool. CashShuffle mixes coins from various participating wallets automatically.
For this article, I downloaded Electron Cash for the Mac. After downloading and opening the Electron Cash wallet, all of the expected and usual prompts occur. The wallet prompts you to name your wallet, write down your backup phrase and create a password for the wallet.
I usually use BCH to make purchases on line. Therefore, the app for my desktop will probably be my primary wallet. However, there is an iOS client available in the App Store. This is dope – it means that I can easily access my private coins for spending when I am out and about. It increases the utility of BCH to have tools like this available. I am liking this wallet a lot, yo!
If you got value from the article or have questions regarding CashShuffle, email me or let me know in the comments below. Thanks!