This week, hardware wallet maker Trezor and non-custodial bitcoin wallet with an integrated Coinjoin mixer, Wasabi, revealed that the two teams are working together to introduce Coinjoin mixing into hardware wallets. On Sunday, Wasabi tweeted “Coinjoins hardware wallets are coming next year with our friends from [Trezor].”
Trezor says the company is “working on a coinjoin implementation”
According Trezor and Wasabi, a form of Coinjoin mixing is coming to hardware wallets soon. Coinjoin is a privacy-enhancing process that is used to anonymize transfers on a blockchain. Basically, the scheme involves a number of parties transacting together and mixing their unspent transaction outputs (UTXO) into a pool to hide the origin of all funds.
Sunday, the official Wasabi Twitter account tweeted about adding the privacy enhancement system to hardware wallets. In the wire, someone asked Wasabi when they would release an “album” and Trezor replied: “Hi, we are working on a Coinjoin implementation, not an album. Thank you for your understanding.”
The news follows the US government sanctioning ethereum (ETH) mixing the Tornado Cash app, which also leverages a form of Coinjoin and Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) for deposits and withdrawals. In March 2022, reports indicated that some bitcoin unspent transaction outputs (UTXO) would be censored from Wasabi’s Coinjoin process.
Additionally, in late February 2022, Chainalysis claimed it could de-anonymize Wasabi transactions, after journalist Laura Shin claimed to have identified the infamous 2016 DAO hacker. known to have some weaknesses for some time and a few blockchain mixing schemes leveraged zero-knowledge proofs such as zk-SNARK and combinatorial anonymity to make them stronger.
What do you think about Wasabi and Trezor working together to bring Coinjoin mixing to hardware wallets? Let us know what you think about this topic in the comments section below.
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