The Stratis team has been working on several interesting projects from the first quarter of 2017 up until now.
On December 8, Stratis announced the availability of their masternodes on the mainnet in the beta stage to complement the release of the Breeze wallet with TumbleBit functionality. The Breeze software wallet will integrate the privacy protocol better known as TumbleBit.
The TumbleBit protocol, with the help of masternodes, differs from traditional centralized mixers where the trust is put on the third party that hosts the mixing service.
Once the release is fully running on the mainnet, masternodes will be an important factor in handling the tumbling of Bitcoins. By default, masternodes provide a discoverable and trustless service on the blockchain that it operates on, which in turn removes the need to trust a third party. This also removes the possibility of a malicious attack that steals your funds while tumbling takes place.
The Breeze wallet, which now includes TumbleBit protocol integration, will rely on masternodes to process the mixing of Bitcoins to further anonymize transactions. The release of TumbleBit masternodes on the mainnet (in beta) makes the progress of Breeze one step closer to being complete and ready for use by everyone interested in mixing their Bitcoins through a trustless protocol while remaining fully decentralized.
Chris Trew, CEO of Stratis, answered the question of the utility of TumbleBit and its masternodes:
The requirements for a masternode are 250,000 STRAT. The 250,000 Stratis requirement for the masternode is not something that we put in place. It’s something that is dictated by the technology. TumbleBit works best with a smaller number of servers. It provides privacy through obfuscation.
The main requirements of running a TumbleBit masternode when the release of Breeze is fully operational on the mainnet can be seen below:
Investors who are holding the required amount (250,000 STRAT) are able to set up the masternodes on Windows. The guide for the Windows installation can be found here.
The release of the TumbleBit masternode on the Stratis mainnet marks another deliverable that is complete, with Breeze nearly finished and operational.
As privacy continues to be essential in many industries, the revolutionary Breeze wallet will be able to implement anonymous transactions. Funds moving from point A to point B remain in a fully decentralized state where trusting another party is not a factor, thanks to the power of masternodes and their function in securing the network.