PANews May 20th News, according to Cointelegraph, investment institution Maelstrom has provided a $100,000 grant to Bitcoin developer Ben Allen to improve the privacy transaction tool Payjoin.
Payjoin was proposed by Nicolas Dorier in the Bitcoin Improvement Proposal (BIP-78) in 2019. This technology can effectively enhance the privacy of Bitcoin and improve the efficiency of merging transaction outputs by enabling both parties to jointly construct transactions, thereby enhancing the scalability of the network.
This funding adopts an unrestricted and flexible model and is distributed monthly in the form of Bitcoin for a period of one year. Arthur Hayes, the chief investment officer of Maelstrom and co-founder of BitMEX, pointed out that even if Payjoin is adopted only in small amounts, it can break the key assumption of chain analytics companies that “multiple inputs for the same transaction must belong to the same entity”, thereby enhancing the privacy level of the entire Bitcoin network.
Developer Alan will optimize the Payjoin development suite full-time, with a focus on lowering the threshold for wallet integration. The goal is to promote the adaptation of mainstream open-source wallets (such as Bitcoin Core). He said that a benchmark would be established to assist downstream developers in implementing Payjoin in a single wallet software, and the testing scope would be expanded to ensure the consistency and repeatability of the code.
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