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What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Privacy-Enhancing Protocol Cashfusion Completes Security Analysis

Privacy-Enhancing Protocol Cashfusion Completes Security Analysis

Just a few days prior to the Bitcoin Cash anniversary, BCH fans found out that the Cashfusion audit from Kudelski Security is now complete. Electron Cash engineer Jonald Fyookball announced the audit was finished and said the protocol “passed, mostly with flying colors.”

Last February it was announced that Bitcoin.com would host a fundraiser for the Cashfusion team in order to raise $100,000. $50k worth of the money went toward an audit from the firm Kudelski Security, and the rest of the funds went toward developer expenses.

For every BCH donation sent in by the community, Bitcoin.com matched dollar for dollar. The fundraiser surpassed the goal by 103.3% or $51K worth of bitcoin cash spread out between 623 donations.

In the past, Kudelski Security also audited the Cashshuffle platform prior to its official release. After improving upon Cashshuffle with the Cashfusion protocol, developers decided to have Kudelski audit the code as well.

Privacy-Enhancing Protocol Cashfusion Completes Security Analysis

On Wednesday, Electron Cash (EC) developer Jonald Fyookball revealed that the Cashfusion audit was complete and the BCH community can read the report hosted on the EC website. Moreover, Fyookball explained that the “[Cashfusion] protocol passed, mostly with flying colors.”

“Overall, we believe that Cashfusion addresses an existing problem in managing anonymized transactions in Bitcoin Cash by adopting a reasonable security tradeoff,” the Kudelski report notes.

“We observe that the security analysis of Cashfusion considers many important aspects, although it can certainly be improved in the future. The protocol is very complex, which limits the accessibility for a sound analysis and security evaluation,” Kudelski’s findings highlight.

Kudelski Security further added that the Cashfusion codebase they reviewed “is implementing the protocol as correctly as described and we did not find any evidence of malicious intent or potential backdoor in the codebase.”

In addition to the audit, Electron Cash developer Calin Culianu announced the launch of the Electron Cash wallet version 4.1.0 with Cashfusion.

Of course, the BCH community was thrilled to hear about the completion of the security audit and Fyookball’s announcement was the top post on the Reddit forum r/btc. The top comment on the post stems from Bitcoin.com’s Roger Ver who said:

This is one of the most exciting developments of the year— Strong privacy on BCH is a big big deal.

Another BCH supporter wrote: “Love it, love it, love it— Let’s bring this puppy to Bitcoin.com wallet.

“Let’s bring it to every wallet,” another individual responded in the thread. “Users should actively opt-out and declare they will need their account/transactions to be public instead of private (standard),” he added.

What do you think about the Cashfusion audit completion? Let us know what you think in the comments section below.

The post Privacy-Enhancing Protocol Cashfusion Completes Security Analysis appeared first on Bitcoin News.



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