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Cashfusion, the privacy-enhancing solution for the Bitcoin Cash network is nearing its one-year anniversary and during the last four months, fusions have increased by 328.93%. The protocol recently completed a security audit and fusions are nearing 20k with close to $200 million worth of bitcoin cash fused to-date.

On November 28, 2020, the Cashfusion protocol for the Bitcoin Cash (BCH) network will celebrate a milestone of one year operating so far. At the time of publication, stats from the web portal stats.devzero.be/#/fusion shows approximately 19,658 fusions have been processed since last November.

Four months ago, news.Bitcoin.com reported on the protocol exceeding $9 million worth of BCH fused and 4,583 fusions. Current data reveals that Cashfusion usage has jumped 328.93% since that report.

Cashfusion Use Increased by 328%, $200M in BCH Fused and Close to 20,000 Fusions

The increase in Cashfusion use jumped a great deal after the protocol completed a security audit from Kudelski Security. Alongside this, Cashfusion participation also increased when fusion tiers were expanded from 0.82 BCH to 8.2 BCH. The expansion allows for 10x a larger amount of bitcoin cash to be fused. Moreover, there’s been 791,310 BCH fused to-date and using today’s exchange rate that’s $193 million worth of bitcoin cash.

Bitcoin Cash proponents are big fans of the Cashfusion protocol as they believe the software is more advanced than traditional coinjoin practices. For instance, data analyst James Waugh tested Cashfusion with thousands of transactions and found fusing is far more practical than other coinjoin methods. Waugh sifted through a number of transaction inputs and outputs and realized that it’s “not possible to establish a concrete link” between them.

This is because Cashfusion developers opted to remove the equal amount requirement traditionally found in coinjoin inputs and outputs. In a published a paper called “Analyzing the Combinatoric Math in Cashfusion,” Electron Cash developer Jonald Fyookball explains the process in great detail.

When James Waugh tested the claims of combinatorial anonymity and said that “it’s impossible to determine the true way that inputs and outputs truly relate (since there are multiple possible combinations of ways of getting the inputs and outputs to balance).”

In addition to the Cashfusion action rising, BCH supporters are still leveraging the Cashshuffle protocol as well. Cashshuffle was launched in March 2019 and also completed a security audit from Kudelski Security.

The web portal stats.cash/#/shuffle shows there’s been 60,614 shuffles using Cashshuffle since its inception. In mid-September, shuffles dropped a bunch as more users started flocking to the Cashfusion protocol since the security audit and fusion tiers were expanded. Still, 271,962 BCH has been shuffled worth $66.5 million today.

What do you think about the Cashfusion protocol’s milestones after a year? Let us know what you think in the comments section below.

Tags in this story
Acidsploit Stats, audit, BCH, BCH Privacy, BCH Shuffles, bitcoin cash, Bitcoin Fungibility, Cashfusion, Cashfusion Friday, Cashshuffle, Cashshuffle Saturday, Electron Cash, Fused, fusion server, Fusions, Jonald Fyookball, Kudelski Security, Privacy, Private Transactions

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Jamie Redman , 2020-10-18 01:00:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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