Coinjoin will increase privacy by combining multiple bitcoin payments from different transactions to form a single transaction whose historical events and ownership are hidden.
(Tetra images/getty images)
Hardware crypto wallet company trezor has partnered with bitcoin privacy display organization zksnacks to bring "coinjoin" to its own model t gadget. Coinjoin is a variant of combining multiple bitcoin transactions to earn privacy.
Trezor can say that model t is the 1st and only hardware wallet that supports bitcoin coinjoin transactions. Several programs or "hot" wallets, like the wasabi zksnacks wallet, already have a coinjoin. According to the company, this feature will be rolled out to trezor model one devices in the future.
Most transactions on the bitcoin blockchain are public. A basic tool such as a block explorer is part of the software support for processing cryptocurrency transactions - anything and everything to ensure that these transactions are associated with living identities and violate the financial privacy of users.
Coinjoin is trying to restore privacy , by combining several bitcoin payments from different transactions to arrange a single transaction, the historical identity and the possibility of ownership of which are confused. . Purse t or zksnacks for wasabi. Both model t and wasabi use zksnack's coinjoin service, which charges a coordination fee of 0.3 percent percent percent of trezor's joint join rate.
According to trezor's release: anonymize button. . Buyers then prefer the number of rounds of coinjoin - with all the rounds privacy sentiment rises - confirm the preference on android trezor and the rest of the coinjoin process is automated and therefore does not solicit active user participation.
Other privacy features of trezor include tor, coin management, crypto coin cleaning and shamir backup.
“Trezor values privacy as a person's most important asset,” matei said. Zach, ceo of trezor. “Which is why we are happy to have found the choice for our community to keep their bitcoin history a secret.”
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Frederic munawa is a technology reporter for coindesk. It covers blockchain protocols with a close attention to bitcoin and networks adjacent to bitcoin.