Cashfusion, the Bitcoin Cash network’s privacy protection solution, is approaching its one year anniversary and over the past four months mergers have increased by 328.93%. The protocol recently completed a security audit and mergers are approaching 20k with nearly $ 200 million worth of bitcoin merged to date.
On November 28, 2020, the Cashfusion protocol for the Bitcoin Cash (BCH) network will celebrate a one-year milestone of operation so far. At the time of publication, statistics from the web portal stats.devzero.be/#/fusion indicate that around 19,658 mergers have been processed since last November.
Four months ago, news.Bitcoin.com reported that the protocol exceeded $ 9 million in merged BCH and 4,583 mergers. Current data shows that Cashfusion usage has jumped 328.93% since this report.
The increase in the use of Cashfusion dramatically increased after the protocol completed a security audit of Kudelski Security. Along with this, Cashfusion’s stake also increased when merger levels rose from 0.82 BCH to 8.2 BCH. The extension allows to merge 10 times more money in bitcoins. Additionally, there have been 791,310 BCH merged to date and using the current exchange rate, i.e. $ 193 million in bitcoin cash.
Bitcoin Cash supporters are big fans of the Cashfusion protocol because they believe the software is more advanced than traditional coinjoin practices. For example, data analyst James Waugh has tested Cashfusion with thousands of transactions and found that merging is much more convenient than other coinjoin methods. Waugh sifted through a number of transaction entries and exits and found that “it is not possible to make a concrete connection” between them.
Indeed, the developers of Cashfusion have chosen to remove the requirement of equal quantity traditionally present in the entries and exits of coinjoin. In a published article titled “Analyzing Combinatorial Mathematics in Cashfusion,” Electron Cash developer Jonald Fyookball explains the process in detail.
When James Waugh tested the claims of combinatorial anonymity and said that “it is impossible to determine the true relationship between inputs and outputs (because there are several possible combinations of ways to balance inputs and outputs).
In addition to the increase in Cashfusion action, BCH supporters still use the Cashshuffle protocol. Cashshuffle was launched in March 2019 and also performed a security audit of Kudelski Security.
The stats.cash/#/shuffle web portal shows that there have been 60,614 shuffles using Cashshuffle since its inception. In mid-September, the shuffles dropped as more users began to flock to the Cashfusion protocol since the security audit and merge levels were extended. Still, 271,962 BCH were mixed for a value of $ 66.5 million today.
What do you think of the milestones of the Cashfusion protocol after one year? Let us know what you think in the comments section below.
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