Top X

3 Reasons To Pay Attention To Samourai Wallet’s Whirlpool For Bitcoin Privacy

Achieving privacy in the cryptocurrency world is never an easy feat. Public blockchains and currencies like Bitcoin and Ethereum lack these traits by default. Samourai, a Bitcoin wallet provider, has noted a substantial increase in demand for its Whirlpool service to achieve transaction privacy. 

What is Whirlpool Again?

For those unfamiliar with the concept, Samourai’s Whirlpool is a zerolink coinjoin implementation developed by the Samourai Wallet team. The objective is to make Bitcoin transactions private yet lower any technical barriers for users. A straightforward and convenient solution is essential. Under the hood, Whirlpool breaks deterministic links between inputs and outputs to maximize privacy to all users. As users do not need to worry about these technical aspects, the solution continues to gain more widespread adoption. 

At its core, this implementation requires collaborative transactions between five participants. Outputs of every mixing procedure through Whirlpool are identical, creating a list of 1,496 possible interpretations. This process makes it nigh impossible to figure out which output belongs to which input. That may not matter much on paper, but it becomes essential in this era of blockchain analysis firms and government snooping.

Multiple Ways To Achieve A Goal

What makes the Samourai Whirlpool feature so intriguing is how users can achieve their goals through multiple paths. All that is required is running the Samourai Wallet on an Android device. The first option is to mix transactions using one’s phone, even though it is not the best option for long-term mixing or making more significant transactions private. An approachable solution for those who want to get acquainted with this concept first and foremost. 

The second option is using the desktop application, which connects to Samoruai Wallet on the Android device. Users can deposit funds through this graphical user interface, set mix targets, and visualize their Whirlpool mixes. This is very different from the third option – using the WHirlpool CLI – although this option is the more prominent solution when one has access to small devices running 24/7, such as a Raspberry Pi4.

Through the command-line interface, users can achieve the maximal amount of remixes with little effort. However, it is the more difficult option to set up, making it less suitable for novice users.

Whirlpool Liquidity is Growing

A solution like Samourai’s Whirlpool stands or falls depending on how much liquidity there is to perform mixing transactions. At this time, there is 3,000 BTC – worth over $104 million – in pool liquidity, highlighting the overall demand for privacy among Bitcoin enthusiasts. It is the first time such a high liquidity level is achieved, although it will undoubtedly not be the last.

Demand for Bitcoin privacy continues to heat up globally. Not only is this an alternative payment method, but it is also a way to achieve true privacy without relying on governments or banks. It is more convenient to carry around than cash – which can still be traced via serial numbers on notes – making Bitcoin a very different breed altogether. Add a layer of privacy on top of it and things are bound to get very interesting. 


Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: contact@cryptomode.com

JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

Share
Published by
JP Buntinx

Recent Posts

Shiba Inu Records A New All-Time High AS SHIB Bucks Bearish Market Trend

The majority of crypto markets are currently going through a very bearish spell. One notable…

2 hours ago

Drops Announces Upcoming NFT Lending Platform to Boost Market Liquidity

Vilnius, Lithuania, 27th October, 2021, Drops announced today the upcoming launch of its NFT lending…

3 hours ago

TON Swap DEX unveils long-term farming program

Broxus, one of the leading developers of the FreeTON network, has announced that they have…

4 hours ago

What is Student Coin (STC)?

Back in 2018, a few students from the Students Investor's Club ‘Kapitalni’ at Kozminski University…

4 hours ago

Cadalabs: A Decentralized NFT’s and Crypto Collectibles Market kicks Off Token Pre-Sale

Cardano welcomes its first NFT and digital collectibles Marketplace by name Cadalabs. This is the…

5 hours ago

Liquidity Provider and Forex Market – Main Nuances

Information That You Need to Know About Liquidity Providers Today the international market is very…

7 hours ago