• 14 July, 2024
News

Mercury Wallet Implements Blind Signature Feature; Paxful CEO Exalts

Ray Youssef, the CEO of the financial service platform Paxful acknowledged Mercury Wallet’s new pull request intended to enhance privacy with blind signatures as “huge news”. He added that his unstoppable free marketplace Civ Kit would leverage the advent to its maximum.

Earlier today, the Bitcoin layer-2 scaling technology, Mercury Wallet announced via its official Twitter page the implementation of the blinded two-party Elliptic Curve Digital Signature Algorithm (ECDSA):

Incorporating the detailed description of the blind signature feature, Mercury Wallet asserted that the pull request is “exciting news for Mercury Wallet”, adding that the feature aims at “enhancing privacy and using groundbreaking cryptography with blind signatures”.

Interestingly, Mercury Wallet pictured the initial procedures of the feature, stating:

The client generates a blinding factor and blinds the partial signature using homomorphic scalar multiplication. It then sends it to the server (SE) without revealing the content of the transaction.

Subsequent to the publication of the news, software architect and bitcoin hacker Nicholas Gregory shared a Twitter thread exalting “the future is blinded”. He quoted:

Excited to share Mercury Wallet’s pull request that enhances privacy with blind signatures! Client-server transactions got a whole lot more secure without revealing their content.

Notably, the news received wide response and acclaim; among the enthusiasts was the CEO of Paxful who has been overwhelmed by the new move by the bitcoin wallet. He tweeted:

Significantly, Youssef hailed the blind signature feature as a “Godsend” adding that the team behind the project has been working relentlessly to invent such a valuable feature. 

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