Also dubbed “CoinJoins” have hiked by around 300 percent within the period of just 9 months. By mixing multiple transactions together before they’re sent to the recipient, the technique is considered as the way of obscuring the sender’s information.
The data revealed by Adam Fiscor, the CTO of the firm that operates Wasabi Wallet, a product that aims to deliver higher levels of anonymity to Bitcoin [BTC] users. It shows that CoinJoins transactions have reached their highest levels since 2013-14.
Moreover, CoinJoins became additionally more popular as the governments around the globe began to collaborate with their observation of transactions on ‘blockchain‘, with several enforcement agencies often employing other specialist companies alike Chainalysis to ‘pursue‘ hackers and criminals dealing in cryptocurrencies.
However, though the privacy coins transactions are touted as an another alternative to the major cryptocurrency Bitcoin [BTC], but they’re experiencing pushback in some countries. While some officials in France have ‘steered‘ that they should be illegal altogether, whereas China recently ‘implemented‘ new anti-anonymity laws that are supposedly designed to contribute towards the industry’s healthy development.