Source: Cointelegraph
Original: “Bitcoin (BTC) Privacy Enhancement Tool Payjoin Receives $100,000 Grant from Maelstrom Foundation”
Bitcoin developer Ben Allen has received a $100,000 grant from investment firm Maelstrom to support the development of Payjoin—a privacy-focused tool aimed at enhancing Bitcoin's scalability and privacy.
According to an announcement shared by Maelstrom with Cointelegraph on May 20, Maelstrom will fund the development toolkit (devkit) for Payjoin, co-developed by Allen and Dan Gould. This system allows Bitcoin senders and receivers to conduct transactions through batch transactions, with the potential to enhance network scalability and privacy.
The Payjoin technology was initially proposed by Nicolas Dorier in 2019 through Bitcoin Improvement Proposal (BIP) 78. The core principle of the system is to allow both parties in a transaction to jointly construct the transaction inputs. "This not only enhances privacy but also allows for efficient integration of transaction outputs, thereby improving network scalability," Maelstrom emphasized in the announcement.
According to a Maelstrom representative who spoke to Cointelegraph, the grant will be disbursed monthly in Bitcoin, with Ben Allen's funding period set for one year, totaling $100,000. The project does not have specific milestones and adopts a free management model: "We believe that giving developers full autonomy can inspire innovation more than strict control from funders."
Is Payjoin about to hit mainstream wallets?
Allen will focus on optimizing the Payjoin implementation plan, with the core goal of promoting the integration of this feature into more wallets. He stated that this funding allows him to dedicate himself full-time to project development. The announcement also pointed out that the technology has implementation challenges, including the need for the recipient to remain online, and that the payment communication process is more complex than conventional non-interactive Bitcoin transactions.
Maelstrom's Chief Investment Officer and BitMEX co-founder and former CEO Arthur Hayes noted: "Enhancing Bitcoin's financial privacy is crucial. The beauty of Payjoin is that even limited adoption can break the key assumptions of financial surveillance companies—they originally thought that multiple inputs in Bitcoin transactions must belong to the same entity."
A Maelstrom representative told Cointelegraph that the company "looks forward to supporting more developers in the privacy space" and is actively seeking candidates with mature experience in Bitcoin privacy projects.
Inclusive Privacy Protection
Hayes specifically emphasized: "The adoption of Payjoin can even enhance the privacy security of non-users." Allen believes that privacy protection can provide Bitcoin users with a better experience in their daily use, truly allowing them to control their personal financial data.
Allen revealed to Cointelegraph that he is "establishing standardized benchmark tools to help downstream developers integrate Payjoin into wallet software while expanding test coverage to ensure code stability." By "shifting the technical complexity to the underlying layer, we are lowering the user entry barrier in the most effective way, promoting the adoption of Payjoin."
A Maelstrom representative pointed out: "The key metric for the success of Payjoin will be the adoption rate among mainstream open-source Bitcoin wallets, especially if the Bitcoin Core wallet can integrate this technology, it would be a milestone."
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