Samourai Wallet, bitcoin wallet based on privacy and security has recently partnered up with GoTenna a blockchain startup to work on an application that enables the users to make bitcoin transactions without using the internet.
Dubbed TxTenna, the app is the next level of decentralization. Richard Myers, one of the blockchain engineers from GoTenna wrote an article in which he stated that the app would decentralize bitcoin even more and the users could join a particular network and send information without using the internet.
According to GoTenna, the transaction is sent by the user to the Textenna app which is delivered to mesh nodes. Following this, the operation gets received by a GoTenna device which should reach another TxTenna node connected to the internet. Finally, the transaction enters the bitcoin network.
Richard Myers declared this process could work even with two random nodes placed in a three square mile area. The developer also proclaimed that this new process could make the bitcoin network safer and more responsive.
Besides this Myers wrote that while using the internet bitcoin can be manipulated by the IPS providers since they are big companies and can put commercial interest over net neutrality.
“If we expect people to rely on bitcoin or any other decentralized financial system, we must make sure the local communications networks (mobile carriers, wired ISPs and the internet hubs that route traffic between cities and countries, etc.) are as resilient as possible,” wrote Myers.
He added that currently if a government decides to ban bitcoin entirely, it can add the local network nodes to the blacklist.
“Just as BitTorrent users have had their sites blocked or their speeds throttled, bitcoin users could come under similar attack. If a country outlawed bitcoin and forbade its citizens from using it, local ISPs could block network nodes locally (even if the global system continues to function),” he added.
Besides governmental interdictions and corporate manipulations, Myers presented in his report scenarios in which the local internet is interrupted by natural calamities. He pointed that if a future mass adoption for the cryptocurrencies should occur, natural disasters could damage phone towers and switching station, making the internet unavailable for some time, and blockchain transactions could not be confirmed.
“This would cripple any economy that relies on existing cryptocurrencies, as merchants would be unable to detect if the funds had already been spent (double-spend attack).”
In the end, the GoTenna developer wrote that the crypto users are going to receive new updates on the project in the following months.