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Cryptocurrency Wallet Wasabi

Wasabi Wallet

Wasabi is an open-source, non-custodial, privacy-focused Bitcoin wallet that launched its 1.0 version in August of 2018. The wallet stands out by implementing a variation of the CoinJoin technology called “Chaumian Coinjoin”, which is in short defined as ”trustless coin shuffling with mathematically provable anonymity”. This variation of the coin mixing technology was created by Wasabi’s founder Ádám Ficsór, who named its latest invention ZeroLink.

Wasabi is the first full-scale implementation of the ZeroLink technology. The wallet is open source and has cross-platform capabilities, but it currently works only on desktop architectures like Linux, OSX, and Windows. The founders and creators of the wallet said that they won’t be looking to break through into the world of hardware wallets, at least not until there’s further work to be done on improving the current client’s privacy features and stability.

Features of the Wasabi wallet include:

  • Cross-platform functionality
  • Integrated Tor anonymity
  • BIP 157–158 architecture which allows it to function as a full light wallet
  • HD wallet that uses BIP84 derivation scheme, meaning that it can only generate bech32, native segregated witness addresses (legacy wallets, like the ones that major exchanges have, cannot send funds to the wallet)
  • 12-word address seed system
  • Multi-wallet support with the ability to easily load the desired wallet
  • Intra-wallet clustering system asking users to use required labels, which helps them make educated decisions when mixing
  • Decently looking, Avalonia-written GUI that is quite easy to master
  • Pay to Many
  • Advanced RBF
  • Lightning Network integration
  • Sweep Private Key
  • Paper Wallet Generation
  • QR Code Reader (currently it only shows it)
  • Bitcoin URL support
  • Clipboard Hijacker Malware Defense
  • In-Wallet Block Explorer Query over Tor
  • Integrated VPN Service For Oppressed Countries
  • Basic PGP Client
  • Simple P2P, Encrypted Messaging
  • Add Folder EncryptionProtect Data Folders
  • Active transaction privacy level rating done by the wallet itself
  • Advanced coin control features
  • ZeroLink wallet fungibility framework
  • Constant connection to the Bitcoin P2P network
  • Implementation of a trustless Bitcoin mixing technique, called Chaumian CoinJoin, which enforces a constant 100 anonymity set
  • 0.3% mixing fees
  • Round-based mixing with mix coordinator being unable to steal the funds or de-anonymize users
  • Rounds that take up to 5 minutes to complete
  • A minimum amount of 0.1 BTC required for the transaction to be able to take part in the mixing process.

Wasabi Wallet Pros & Cons

Pros:

  • Easy to use
  • Fairly cheap ~0.15% fee
  • Pretty good privacy
  • Automatically uses Tor

Cons:

  • ~0.1BTC minimum
  • With a great deal of effort and investigation, transaction analysis may still be possible, especially if you leave other traces.
  • The coordinator could possibly do an active Sybil attack against specific coins.
  • ZeroLink protocol isn’t yet completely commercially ready and vulnerabilities tend to pop up from time to time.  

The Future
Overall, the wallet offers an interesting and ever-expanding set of features. While there’s much work to be done on its stability, UI, performance and overall polish, Wasabi’s ability to already increase user privacy and fungibility might sway more than one new user to install it.

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