The bitcoin industry has struggled to protect individual privacy and control over personal data. An open-source, non-custodial Bitcoin wallet called Wasabi Wallet has surfaced as a solution that puts privacy first. The CEO of zkSNACKs, Max Hillebrand, talks about how he got started in the cryptocurrency space and how innovations like CoinJoins and the Lightning Network have changed the industry.
Wasabi Wallet manages standard Bitcoin wallet functions and has the special capacity to carry out CoinJoins, embodying the free and open-source spirit. According to Hillebrand, CoinJoin enables more transactional privacy by enabling numerous users to concurrently cry out their transactions. A CoinJoin API is another feature of Wasabi Wallet that allows other wallets to interface with the Wasabi coordinator and improve transactional privacy throughout the Bitcoin network.
Hillebrand acknowledges the trade-offs between efficiency and privacy as she addresses the controversy around centralized versus decentralized systems in the cryptocurrency space. He sees a Wasabi Wallet in which software and protocol designers take care of the complexities and keep complexity hidden from users. Solutions that focus on privacy, like Wasabi Wallet, are expected to be important as the cryptocurrency industry develops because they embody the spirit of decentralization and technological innovation.