TL;DR: Widely praised privacy tool CashFusion recently blasted past its security audit fundraising goal of $100,000 with the help of individual community donors and a matching grant by Bitcoin.com. The critical next step will allow the project to potentially be used by applications looking to provide users with greater transaction anonymity.

Bitcoin Cash Privacy Tool CashFusion Fundraiser Blasts Past Goal

“Woah just saw the news this morning,” CashFusion lead developer Jonald Fyookball told CoinSpice. “I’m excited to see the CashFusion fundraiser goal has been met. Big thanks to Roger Ver and Bitcoin.com for making this happen. This means we can take the next big, bold step forward with a professional security audit that can help provide the highest level of robustness to the project.”

Asked what the next steps are in the process, Fyookball explained to CoinSpice how he expects “the audit to take about a month, and shortly thereafter we will begin releasing Electron Cash with CashFusion integrated. This is a huge advancement toward solving the long-standing problems of privacy and fungibility on a public blockchain. A great day for Bitcoin Cash and crypto in general.”

At press time, $51,614.55 showed on the Bitcoin.com fundraising page for CashFusion, a Bitcoin Cash (BCH) transaction anonymizing tool thought by analysts to be a step forward in the long-sought fight for greater financial privacy. With Bitcoin.com’s matching of another $50,000, that means the project is ready to purchase an outside security audit, critical in the potential use by applications hoping to employ its technology.

The Next Step Begins

CashFusion came out of the early work of CashShuffle, another privacy tool brought to market by the likes of developer Josh Ellithorpe. CashShuffle is an opt-in tool on the Electron Cash wallet, mixing BCH coins together for a kind of relative transaction anonymity. It passed a security audit last year and received high marks from the community.

Still, more needed to be done as CashShuffle could only take users so far, and there were ways, albeit more difficult, to trace transactions. Jonald Fyookball of Electron Wallet, along with independent developer Mark Lundeberg, hoped to bring CashShuffle along further by anonymizing outputs and inputs, obscuring transactions even more, running such a tool in a wallet’s background, and integrating it with the Tor browser.

CashFusion’s promise even intrigued other projects, such as privacy hawks over at Wasabi who found it compelling. At least one key to its allure is the fact it’s not a coin in particular, such as Monero or Zcash, that can be simply banned by governments outright. CashShuffle can be turned on or off, allowing for bitcoin cash users to choose the degree of privacy they desire. And as financial life transfers nearly entirely into the digital age, the ability to have control over one’s funds becomes ever more important.

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DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.