What even happens if you lose your device, if you don't have a seed phrase?
If I had to venture a guess I would say that they probably have all seeds, considering that it's a custodial service. If you changed the device, they would probably have to verify your identity somehow, meaning there is a KYC or other identity process, and then they share your shard with the new device you are connecting with. It sounds silly even writing this with all the quality non-custodial wallets we have at our disposal. I am talking about wallets in general, not only those what support silent payments. 
Topic: Wallets supporting Silent Payments (Read 1453 times)
Without the seed
So it's basically a scam waiting to happen. What even happens if you lose your device, if you don't have a seed phrase? I'm even okay with using a custodial "wallet" for small amounts for certain uses, but if they don't make it very obvious it's custodial, that's a very bad sign.
You can find contradictions in one minute just by looking at their landing page. They have a gif of a user's device connecting to a server to create the final signing key, and the accompanying text claims that you maintain "complete self-custody of your assets". It's so complete that you are dependent on their server to make transactions. One sentence later they state, "No seed phrases, no compromises". Without the seed, you only have control as long as they allow you to. But hey, it's ultra-safe bank grade technology. And so it turns out that the wallet is a custodial one.
Now compare that with their claim of "Your private key", "Private" and "more ~ safely", and it's all the more obvious never to trust them.In my definition, a wallet means I and only I control the private keys. Unfortunately, there are many other "wallets" out there claiming their custodial crypto storage is a wallet. I'm even okay with using a custodial "wallet" for small amounts for certain uses, but if they don't make it very obvious it's custodial, that's a very bad sign.
How It Works (I don't want to give them another backlink so I won't include the link in the quote):
And so it turns out that the wallet is a custodial one. No wonder. That's how they justify their private key splitting scheme between multiple parties. How would one individual divide a key in several parts? Easy, you give them the shards except for one. Quote
Your private key is split into multiple shares
Shares are distributed between your device and a remove server
Shares are distributed between your device and a remove server
I also found it weird that you can make free transactions with certain tokens. The money for fees has to come from somewhere unless it's a custodial service.
There is a new wallet that supports silent payments. It's called Shakesco. Personally, I have never heard of it. It's a multicurrency wallet with certain decentralized features (appearently). Their website also mentions that they have free USDT and wBTC transfers, NFTs, etc.
Strange choice of name for this new wallet, and honestly their website is not giving me much confidence in them.Another thing I am concerned with them is something called Seedless Security, that makes me think they are using something like tangem wallet.
I will hold on for now, and maybe add them later in my list of wallets that support Silent Payments.
I never feel at ease when a flashy website reminds me of the ICO era
It gave me exactly the same ICO scamy vibes or should I say trump-meme pump&dump vibes 
There is a new wallet that supports silent payments. It's called Shakesco. Personally, I have never heard of it.
I never feel at ease when a flashy website reminds me of the ICO era, and lists "Complex Seed Phrases" as a drawback of crypto wallets. The "Watch Demo" shows sliding and spinning phones, but doesn't answer any of the questions I have. Which makes me think this is aiming at people who have no idea what they're doing, as long as they can install an app. I won't use this.How It Works (I don't want to give them another backlink so I won't include the link in the quote):
Quote
Your private key is split into multiple shares
Shares are distributed between your device and a remove server
This sounds a lot like: "Trust. Don't verify.". Literally the first thing I do whenever I install a new wallet, is try to reproduce my receiving addresses without that wallet (on an air-gapped system running from RAM). If I can't do that, it means I can't restore my funds if the wallet disappears. And this sounds like one of those cases. Shares are distributed between your device and a remove server
what is also interesting is that this wallet uses the multi-party computation (mpc) protocol (in terms of security). these kind of wallets are designed to enhance security by splitting private keys into multiple parts, each held by different parties. this means that even if one part is compromised, the key remains secure.
I don't know how the MPC key splitting technology will help private users. As the source you shared mentions, this is a working solution for custodial services, like exchanges, where multiple parties hold shards of a key. When transactions are signed, those shards get combined offline to create the needed signature. The theory is to avoid a single point of failure. Perhaps Shakesco has two different wallet solutions: one for private use and one for businesses and custodians. Or maybe this is a custodial wallet altogether...
There is a new wallet that supports silent payments. It's called Shakesco. Personally, I have never heard of it. It's a multicurrency wallet with certain decentralized features (appearently). Their website also mentions that they have free USDT and wBTC transfers, NFTs, etc.
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a good catch Pmalek!
seems to be a completely new wallet, which is also not yet so well known... the twitter account was created in december 2024
what is also interesting is that this wallet uses the multi-party computation (mpc) protocol (in terms of security). these kind of wallets are designed to enhance security by splitting private keys into multiple parts, each held by different parties. this means that even if one part is compromised, the key remains secure.
https://www.bitstamp.net/learn/security/what-are-multi-party-computation-mpc-wallets/
There is a new wallet that supports silent payments. It's called Shakesco. Personally, I have never heard of it. It's a multicurrency wallet with certain decentralized features (appearently). Their website also mentions that they have free USDT and wBTC transfers, NFTs, etc.
https://shakesco.com/
More information about the wallet's silent payments feature is available on GitHub:
https://github.com/shakesco/shakesco-silent
https://shakesco.com/
More information about the wallet's silent payments feature is available on GitHub:
https://github.com/shakesco/shakesco-silent
I just added Wasabi wallet to the list (for sending only), but note that I didn't test myself how everything works with this wallet.
Are there any estimates when receiving silent payments could be integrated and released?
PS
This information should be available on their website, but I couldn't find it anywhere.
Are there any estimates when receiving silent payments could be integrated and released?
PS
This information should be available on their website, but I couldn't find it anywhere.
Sorry, just seeing this now, the release containing SP send support just went out today: https://github.com/WalletWasabi/WalletWasabi/releases/tag/v2.4.0
I deposited $4000 into Silentium and ended up with endless synchronization, is it a scam? 
It is not a scam but still an experimental feature in the rare wallets.
I would advise everyone not to use Silent Payments except for the case of research until its ability will be confirmed by at least hundreds of thousand transactions made from reputable wallets.
P.S. It would be ideal if Silent Payments trx could be made with the test coins before becoming mainnet routine.
I deposited $4000 into Silentium and ended up with endless synchronization, is it a scam?
Sorry about that, but I clearly wrote that Silentium is still experimental wallet.You should try contact Silentium team, maybe you just need to select different node and scan exact block height or date.
Best wallet I know that accepts Silent Payments currently is Cake wallet, so you can also try importing your backup in that wallet.
I deposited $4000 into Silentium and ended up with endless synchronization, is it a scam?
Are you the same person who posted this issue in their GitHub repo (since the username is similar)?Because the core developer is already working on it based from this reply.
Link: https://github.com/louisinger/silentium/issues/16
For the possibility of a scam, most open-source projects are hardly a scam since anyone who's capable of auditing their code can check for malicious code and cross-check it with their live version (website).
Of course, new projects tend to be out of the radar so being open-source alone isn't enough without any investigation.
Isn't a web wallet the opposite of what you'd want for Silent Payments? It's convenient, because you don't have to process all blocks, but your privacy depends on a third party.
You can use Silentium with tor browser to hide your IP address, and I think you can generate seed words offline.I am not supporting any wallets in this list, and Silentium is more experimental proof of concept wallet to test how Silent Payments work, so it should not be used with larger amount of coins.
There are some reports from users with coins getting stuck using Silentium because of sync issues, so I don't recommend it for anything serious.
Cake wallet works much better but note that Silent Payments is still in beta phase.
and where can I read about this, about funds getting stuck?
I deposited $4000 into Silentium and ended up with endless synchronization, is it a scam?
Sending support for silent payments was just merged into Wasabi Wallet: https://github.com/WalletWasabi/WalletWasabi/pull/13536
Receiving support is in development: https://github.com/WalletWasabi/WalletWasabi/pull/13565
I just added Wasabi wallet to the list (for sending only), but note that I didn't test myself how everything works with this wallet.Receiving support is in development: https://github.com/WalletWasabi/WalletWasabi/pull/13565
Are there any estimates when receiving silent payments could be integrated and released?
PS
This information should be available on their website, but I couldn't find it anywhere.
Sending support for silent payments was just merged into Wasabi Wallet: https://github.com/WalletWasabi/WalletWasabi/pull/13536
Receiving support is in development: https://github.com/WalletWasabi/WalletWasabi/pull/13565
Receiving support is in development: https://github.com/WalletWasabi/WalletWasabi/pull/13565
What's the status of including Silent Payments in an upcoming release of Bitcoin Core? Is it still in the works?
Another interesting article about Silent Payments was released on Hiro blog.
They explained basic of how Silent Payments work, and they mentioned how there is a lot more work to done on improving standard.
Electrum server protocol doesn't support silent payments so devs need to add t support to Electrum or create another standard.
https://www.hiro.so/blog/what-are-bitcoin-silent-payments
They explained basic of how Silent Payments work, and they mentioned how there is a lot more work to done on improving standard.
Electrum server protocol doesn't support silent payments so devs need to add t support to Electrum or create another standard.
https://www.hiro.so/blog/what-are-bitcoin-silent-payments
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