The team behind Samourai Wallet, a privacy-centric Bitcoin app, has received its first round of venture funding.
Keonne Rodriguez and William Hill, founders of Samourai Wallet and former developers at Blockchain.info, along with the wallet’s maintainer, Katana Cryptographic, received $100,000 in investment from Cyberpunk Holdings.
The app was build for Android users and was specifically designed to enhance privacy while using Bitcoin.
According to co-founder of Samourai Wallet and director of Katana, Rodriguez, there is no other cryptocurrency that is as battle-tested and hardened as Bitcoin. The founding team of Samourai, according to him, has zero interest in working on other coins, or even other layers of Bitcoin at this point in time.
In regards to the wallet, it offers a number of features offering greater privacy for users, like a service that puts intermediary hops in a transaction in order to create uncertainty about which wallet pays for what. Tracing the provenance of someone’s Bitcoin has also been made difficult by another feature. A small fee, in Bitcoin, goes to the company from the users that make use of these services.
“Stonewall”, a privacy-enhancing service, is also provided by Samourai for free. The service creates a doubt about the ownership of bitcoin in a given transaction. Dojo, a forthcoming hardware project, is also being offered by the company. It is a user-friendly Bitcoin node built to work with the wallet.
Last year, in September, Samourai Wallets proceeded to replace fiat values with Satoshi – the smallest unit of Bitcoin.
This article was originally sourced from CoinDesk.