Cryptocurrency News

Sparrow BTC Wallet Now Supports Whirlpool CoinJoins

The Sparrow Wallet now gives its users the ability to perform CoinJoins after a set of multiple mixing phases.

Being open-source, The Sparrow Wallet, which works on the basis of self-rule and accessibility, is now updated with added support for Whirlpool CoinJoin methodology in its latest version. Version 1.5.0 of the Sparrow Wallet gives users the ability to blend up untouched transaction outputs, also called UTXO’s using the new functionality, which works on both mainnet and testnet Bitcoin-based networks.

About CoinJoin

Fundamentally, CoinJoin Is a unique Bitcoin-based transaction that involves people who are willing to merge their inputs into a single transaction, then receive their docile outputs in return. CoinJoin aims to tackle transaction-based heuristics that are used by chain examination firms in order to bundle up addresses in attempts to counter the ‘unreal name’ that Bitcoin gives.

Sparrow’s Implementation

Using the CoinJoin method, Sparrow Wallet now gives users the ability to send out their ChoinJoin returns into an external wallet after a certain number of blending phases have been completed. In addition to that, the Sparrow wallet has also upgraded its UX for use in Tor Integration and also introduces a new feature that gives out privacy-based analysis of a build-up transaction.

About Whirlpool

Constructed by the developers of the Samourai Wallet, Whirpool is basically a Chaumian-based CoinJoin application. It provides users of Bitcoin to have the benefit of forward-looking privacy. That is achieved by tackling assumptions that many blockchain watchers might have in regards to their coins and their possessions.

By utilizing Whirlpool, the Sparrow wallet can help to widen the use of the CoinJoin method, contributing to the growing liquidity in the protocol and enhancing the fungibility of Bitcoin. Fungibility is basically a sort of action that allows two separate coins or UTXO’s to act as the same, meaning that they will not be distinguishable or no one coin will be chosen over the other.

Providing Privacy and Freedom

Many dictatorial and centralized governments have been implementing strict rules that enable them to control the finance of their people, so being distributed, the Bitcoin Network is something that provides financial freedom and helps to secure privacy. Securing the privacy of users on the Bitcoin network is important in order to ward off any type of oppressive actions and instead promote sovereignty.

Leave a Reply

Your email address will not be published. Required fields are marked *