Bitcoin Cash Developers Are Building Tools for Better BCH Fungibility

Bitcoin Cash Developers Are Building Tools for Better BCH Fungibility


On Oct. 12 the Bitcoin Cash developer Chris Troutner published a new shuffling protocol concept called Tokenshuffle, a platform that aims to anonymize BCH transactions. Meanwhile, the Cashshuffle project has recently outlined the platform’s roadmap and accomplishments so far. Over the past few months the focus on bitcoin cash fungibility and tools that make blockchain obfuscation possible has become a popular trend among BCH proponents.

Also read: BCH Devcon Streamlines Bitcoin Innovation in San Francisco

The Tokenshuffle Idea

Bitcoin Cash Developers Are Building Tools for Better BCH FungibilityChris Troutner

Privacy is a pretty big deal to cryptocurrency proponents and it seems many developers and projects have been racing for the holy grail of digital currency anonymity. Members of the Bitcoin Cash (BCH) development community have been passionately working towards this goal. On Friday, Oct. 12, the programmer Chris Troutner published a concept called Tokenshuffle, an intended light wallet that utilizes two types of cryptocurrency mixing protocols. Troutner has published his gist on Github and explains that after some significant community review an open source application will be built.         

“Tokenshuffle is a protocol for anonymizing Bitcoin Cash (BCH) and improving its fungibility,” explains Troutner’s gist on Github. “This protocol is loosely based on the ideas in Coinjoin and Coinshuffle, and is intended to be implemented as a light-weight web app that people can anonymously interact with.”

Troutner adds:  

It leverages new token protocols built on top of Bitcoin Cash like Wormhole, though other token protocols could be used.

Bitcoin Cash Developers Are Building Tools for Better BCH FungibilityA diagram of Chris Troutner’s Tokenshuffle idea.

Cashshuffle Development Continues

Bitcoin Cash Developers Are Building Tools for Better BCH FungibilityAlongside Troutner’s announcement, the development team behind the Cashshuffle project has published the protocol roadmap showing a lot of effort is being dedicated toward this privacy tool. On Oct. 13 Cashshuffle programmers explained the project’s goals and how they are aiming for the “next phase of maturity in the next 1-2 months and finally become a real fungibility solution for Bitcoin Cash.”

The team says they have been steadily trying to find a solution for the liquidity problem with a bot that shuffles coins for people when there are not enough participants tumbling coins. The developers say they have been contemplating other ideas like incentivization techniques similar to the Coinjoin protocol. However, the Cashshuffle programmers detail that there are some “big things coming” that will separate the program from other types of privacy methods.

For instance, the blockchain engineer Josh Ellithorpe has proposed a mechanism that enables wallets to pre-shuffle their UTXOs. “This can happen in the background and when you need to make a payment, your coins will already have been shuffled,” the Cashshuffle team emphasized. Further, the Electron Cash lead developer Jonald Fyookball has been working hard to merge Cashshuffle into the popular BCH light client. The team states that the privacy tool’s build will be double-checked by an independent security audit as well. The programmers believe Ellithorpe’s new idea of mixing UTXOs in the background automatically will improve shuffling efficiency a great deal.

“There should be plenty of liquidity because it will be widely available to many users and it can happen in the background, not while someone is waiting for a payment — Everyone will naturally be incentivized to participate to enjoy the privacy features,” the Cashshuffle developer explained. “There will still be a client-server model and the client can indicate a group of active servers and each time a shuffle is made, the client will randomly select one of the active servers — By having multiple servers, the solution will be distributed and censorship-resistant.”

At the moment Troutner’s Tokenshuffle idea is receiving some feedback on Github and the Cashshuffle roadmap was discussed in great detail on the r/btc Reddit forum. Privacy concepts on the BCH chain are welcomed by most of the community as a majority of the discussions have shown great interest in bitcoin cash fungibility improvements.

What do you think about the Tokenshuffle idea and the roadmap announced by the Cashshuffle development team? Let us know what you think about these projects in the comments section below.

Images via Shutterstock, Cashshuffle, Twitter, and Github.

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Bitcoin Cash Price Weekly Analysis: BCH/USD Sell on Rallies Near $470

Key PointsBitcoin cash price found support near the $420 level and later recovered against the US Dollar.There is a key bearish trend line formed with resistance at $470 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).The pair is likely to face a lot of selling interest near the $470 and $500 levels in the near term.Bitcoin cash price is under pressure below $500 against the US Dollar. BCH/USD remains sell on rallies near the $470 and $480 levels.Bitcoin Cash Price AnalysisThis past week, we saw a major downside move below the $520 and $500 supports in bitcoin cash price against the US Dollar. The BCH/USD pair declined heavily and broke the $450 support. There was also a close below the $450 level and the 100 simple moving average (4-hours). It traded close to the $400-410 support area and formed a low at $421. Later, the price started an upside correction and moved above the $430 level.At present, the price is testing the 23.6% Fib retracement level of the last decline from the $531 high to $421 low. If there is a break above the $450 and $455 resistance levels, the price may climb towards the next important hurdle at $470-475. There is also a key bearish trend line formed with resistance at $470 on the 4-hours chart of the BCH/USD pair. Moreover, the 50% Fib retracement level of the last decline from the $531 high to $421 low is also positioned near the $476 level. Therefore, sellers are likely to appear near $470-475 if the price continues to climb higher.Bitcoin Cash Price Weekly Analysis BCH ChartLooking at the chart, BCH price may perhaps hold the $400 support area for some time and it could correct towards $470-475.Looking at the technical indicators:4-hours MACD – The MACD for BCH/USD is slightly in the bullish zone.4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is recovering above the 30 level.Major Support Level – $420Major Resistance Level – $470

An In-Depth Look at the Keepkey Cryptocurrency Hardware Wallet


Keeping cryptocurrencies safe is a fundamental part of participating in the digital economy, and hardware wallets have become popular security solutions. These days there is a slew of devices on the market, each with its own options and features. One of these is the Keepkey wallet, a product that’s been well received by digital currency investors over the last three years.

Also read: A Review of the Swiss-Made Digital Bitbox Hardware Wallet

The Keepkey Hardware Wallet

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet KeepkeyEarlier this week I took a look at the Keepkey hardware wallet, a device that allows users to store multiple cryptocurrencies in a secure fashion. Keepkey is sold for US$129 per device, which is more expensive than the Ledger Nano, Coolwallet S, and Trezor One. Nevertheless, the small rectangular device is more pleasing to hold and the screen looks very nice when the Keepkey is operating. The case the Keepkey comes in is packaged well and resembles an unopened Apple product. Keepkey, Coolwallet, and the Ledger all have well-packaged boxes compared to the Trezor One packaging.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet KeepkeyKeepkey’s PIN system is identical to the Trezor entry method. Numbers are displayed on the device and the user has to submit the order on the Keepkey client’s on-screen pin-pad. 

The black Keepkey box is sealed in plastic wrapping and when removed there’s also a piece of tamper-resistant tape holding the box closed. After inspecting the tape and making sure the box has not been opened previously, a knife is needed to cut the tape’s seal. Inside the box is a Keepkey, a 12-word seed card, a USB cord, and some warranty information. The Keepkey has a plastic anti-scratch film laid over the device’s screen and is encased in black foam. Keepkey’s large OLED screen is pleasing to look at and is probably one of the device’s best features. After opening the Keepkey, I headed over to the company’s Getting Started page and downloaded the Keepkey application for Google Chrome. Keepkey only works with Chrome, but it’s the same with most hardware wallets now.

Connecting to Chrome and Initializing the Seed

After installing the application to Chrome, the platform asks you to plug your Keepkey in to get started. Immediately after initiating the Keepkey it required a firmware update and would not start the process of initiating a seed until the firmware was downloaded into the device. Removing the USB cable from my Keepkey was an uncomfortable feeling and it took a bit of force to insert and remove the cord compared to other devices. Ledger Nano is probably the best as far as connecting the cord, with the Trezor One following behind because my Trezor device has always had a weird connection feeling as well. However, after using the USB connection a few times with the Keepkey, connecting was easier and got much more comfortable to insert over time.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet KeepkeyOverall the Keepkey user interface is fairly intuitive and easy to navigate.

Moving on, the Keepkey begins by initiating a new device name, seed and PIN. The program makes you double check the PIN twice and then asks you to write down the seed phrase, which is located on the device itself. Unlike other hardware wallets, the Keepkey does not require you to double check the 12-word phrase. After this process, you are granted access to the first account which is dedicated to BTC. In order to add other cryptocurrencies, there is a dropdown menu that allows users to add BCH, DOGE, LTC, ETH, plus a range of ERC20 tokens.

Transactions, Shapeshift, and Comparisons to Other Models

Unlike other hardware wallets, Keepkey needs to be plugged in to view accounts and they can’t be seen when the device is disconnected. After the initial seed had been set up, I created a bitcoin cash (BCH) wallet to send myself some funds. Anytime I test a new wallet I always send a small fraction of crypto just to make sure the application is working properly. The wallet immediately saw the transaction; you can view confirmed and unconfirmed transactions in a separate window that’s tethered to a block explorer.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet KeepkeyKeepkey transactions can be viewed in a separate window and searched with the platform’s tethered block explorer.

The Keepkey’s interface is fairly intuitive, and you can change things like the PIN or use the wallet’s in-client Shapeshift option within the settings section. Sending and receiving is simple and the actual device itself is used for signing verification, while also showing sending/receiving addresses on the screen as well.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet KeepkeyKeepkey shows account addresses on the device’s screen.

Following the transaction, I decided to look at the client’s Shapeshift integration. Keepkey is owned by the firm Shapeshift AG and was one of the first hardware wallets to offer trading abilities within the wallet. Recently, however, Shapeshift has changed the platform’s business model to a membership exchange and all Keepkey users have to register using the client.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet KeepkeyKeepkey users can use Shapeshift in-wallet but have to register for the company’s membership program and verify their identity in order to trade.

The required items needed to use Shapeshift include a verified email and the user must submit a photo ID to trade. All of these tasks can be done through the Keepkey client and a quick email verification. After the account is processed you can trade on the Shapeshift exchange in-wallet using the “quick” or “precise” trading options.

Overall, the Keepkey operates fairly smoothly and I didn’t really have any problems throughout the setup and funding the device. The Keepkey’s user interface is more comfortable to move around and use than the Ledger Nano, and Keepkey operates similarly to the Trezor One. Unlike the Trezor or Ledger, the Keepkey uses one button navigation but still works fluidly with the wallet’s tasks like sending and receiving. The device doesn’t have support for too many cryptocurrencies right now, and other products offer a greater selection. But as far as the coins it does hold, the Keepkey offers an easy to use operating system and is just as secure as its competitors by using similar opsec techniques.

What do you think about the Keepkey hardware wallet? Let us know what you think about this device in the comment section below.

Disclaimer: This editorial should be considered Review or Op-ed material. The opinions expressed in this article are the author’s own. does not endorse nor support views, opinions or conclusions drawn in this post. is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Review editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are considered optional. Neither nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.

Images via Jamie Redman, Keepkey, Shapeshift, and Pixabay. 

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