CoinJointhat is amethodologyof anonymizing bitcoins that developer Gregory Maxwell came up with inan endeavorto assistbitcoin usersstayanonymous.The conceptis simple:once2userswishto createatransaction, ifthey createthe transactionstogether, theirdataremainsprivateoratleast veryonerous todiscern.
Recently in this week on the10th anniversaryof the Bitcoin protocol asan inspiration[whereas the blockchainfailed totrulylaunch until in Jan. earlier inyear 2009], a CoinJoinworthover $200,000 USD came forth. The join involvedseveralparticipants, withthe largest transactionswithin thebunch being nearlyhalf of the entirevolume transacted, around 14.8 Bitcoins [BTC]were transferred to address bc1qqcrmkvp97ryyvfu3crp6883v5caunq6v2960sc.
Thetransactionwas initiated by Wasabiwalletdeveloper named ‘Adam Ficsor’ andproclaimedon his official Twitter page stating:
The Wasabi wallet projectis adesktop Bitcoin [BTC]walletprojectthatfocuses on enhancing the privacy of BTC transactions throughthe utilizationof CoinJoin andalternativemethodologies.it’sownedbya corporationknown aszkSNACKs —to notbe confused with ZEC’s zkSNARKs.
It intendsto enhanceinterchangeablenessof Bitcoin [BTC].Interchangeablenessis theconceptthat each bitcoin is interchangeablein spite ofwhohasacquiredit or what purposeit’sbeen used for.A scarcityofinterchangeablenessmay be adangerous economic precedent, and technologicallyit’s avertable. CoinJoinsisa wayofimproving interchangeablenessbypermitting“tainted” coins into “legitimate” transactions — note thateachof these concepts, “clean/dirty” coins,arethe issuesin and of themselves that Wasabi is addressing.
The bestway tovisualisethe questionis whether or notor notyou’dreject a $100 USD bill to sell your usedautomotivejust becausethat bill had once beenutilized ina drugdealing. In cash transactions,this is often tougherto to,howeverwith digitalcash,it’sentirelypossible, andnumeroustechnologiestogether withmonero, zcash, and CoinJoin aimto stopsuch astate of affairsthrough privacy and anonymization of coins.
Wasabiwallethas CoinJoininbuilt. To participatein a veryCoinJoin oneshouldbe transactingquite0.1 Bitcoin [BTC]. This featureis comparableto monero’smixtureprotocol. Itseemsthatsolely alternativeWasabiwalletuserswillparticipate in these CoinJoins,howevereven sothe featureis certainto extendadoption of Wasabi,thataims to launch on mobileshopperswithin thefuture.