Trezor is a manufacturer of hardware wallets. Wasabi, which has a Coinjoin mix, was the first to announce that they have joined forces with Wasabi in order to integrate Coinjoin into their hardware wallets. On Sunday, Wasabi tweeted “hardware wallet Coinjoins are coming next year with our friends at [Trezor].”
Trezor Says Company Is ‘Working on a Coinjoin Implementation’
Trezor and Wasabi claim that Coinjoin mixing will be coming soon to hardware wallets. Coinjoin allows for anonymization of transactions on the blockchain and is privacy-enhancing. The basic idea behind the Coinjoin scheme is that a group of people transact together and mix their unused transaction outputs, (UTXOs), into a pool in order to hide the origins of all funds.
On Sunday, Wasabi’s official Twitter account tweetedAbout adding privacy-enhancing schemes to hardware wallets. The thread was started by someone. asked Wasabi when they would release an “album,” and Trezor replied: “Hi, we’re working on a Coinjoin implementation, not an album. Thanks for understanding.”
Following the U.S. government’s sanction of Tornado Cash (ethereum) mixing app Tornado Cash (ETH), which leverages Coinjoin and Zero-Knowledge Succt Non-Interactive Arguments of Knowledge (zk-SNARKs), the news is also relevant to withdrawals and deposits. In March 2022, reports indicated that some bitcoin unspent transaction outputs (UTXOs) would be censored from Wasabi’s Coinjoin process.
Chainalysis stated that at February 20, 2022 it would be able to deanonymize Wasabi transactions after Laura Shin claimed she had identified the 2016 DAO hacker. Since coinjoin apps have had weaknesses known for a while, a handful of blockchain-mixing schemes have used zero-knowledge proofs such as zk-SNARKs or combinatorial anonymity in order to make them more powerful.
Wasabi and Trezor teaming up to add Coinjoin mixing functionality to hardware wallets. Please comment below to let us know your thoughts on this topic.
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