Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

Reusable Payment Addresses: New Privacy Feature in Bitcoin Cash

Babafemi Adebajo
Babafemi Adebajohttps://www.definitionsbyadebajo.com

Femi is a freelance content writer with adequate experience creating content for online and offline media across different niches including technology. When he is not writing, you can find him trying out new technology or reading.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Electron Cash, a popular bitcoin cash wallet, has recently added a new feature known as Reusable Payment Addresses. Although the newly added feature is still in its testing stages, it is a tool that can be used to achieve a stealth mode level of privacy for your transactions as a result of how it removes public addresses from payment history.

Reusable Payment Addresses: Your transactions are now more secured

While Reusable Payment Addresses remains in its testing stage, the developers of Electron Cash have ensured that the new feature’s functionality is there. Prior to this time, when a user gives a payment address to another user, it usually gives away the entire history of payments associated with that address, alongside the remaining balance. This has always posed a great problem to users who are privacy-concerned. Whether the user is a private individual or a company, everyone posts their address, they are exposing their entire financial information. 

Reusable Payment Addresses aims to solve this problem by giving an alternative address, called “Paycode.” Paycodes are not the same as the conventional public addresses in that, they are not in any way directly associated with the history of the user, meaning that they can be shared with absolutely no worries. Paycodes also comes with other useful features like Cash Accounts, which allows users to enjoy both the privacy of Paycodes and the convenience of human-readable account names. 

Bitcoin cash is relentless in their quest for more privacy

With this latest addition, Bitcoin Cash is easily edging towards offering its users, some Monero-like capabilities. Reusable Payment Addresses are just another tool in Bitcoin Cash’s privacy arsenal that has been made available to their users. There remains the CashFusion, which obfuscates transactions by fusing coins, which also offers a comprehensive privacy-oriented suite for users who are privacy-concerned.

For now, the Reusable Payment Addresses option is only available via the Electron Cash wallet because it’s still in the alpha stages, however, once it is sufficiently tested it could be implemented in any wallet because it is open-source code software. The generalization of this functionality would create an opt-in privacy feature that could be useful for companies like restaurants and any others that don’t want to reveal their payments flow, and for political and freedom activists all over the world. 

Join 10,000+ Fellow Readers

Get Techgenyz’s roundup delivered to your inbox curated with the most important for you that keeps you updated about the future tech, mobile, space, gaming, business and more.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic