Trezor Brings ‚New Era‘ of Privacy with Coinjoin for Trezor T Model

• Trezor, the crypto hardware wallet manufacturer, announced that owners of the Trezor T model can now use a Coinjoin feature to preserve their privacy.
• Btcpay introduced a Coinjoin plugin for merchants and also collaborated with the Wasabi developers.
• There is controversy associated with Wasabi’s Coinjoin process as there have been speculations that Chainalysis is tracking the Zksnacks Coinjoin coordinator.

Trezor Enables Coinjoin

Trezor, the crypto hardware wallet manufacturer has announced that owners of the Trezor T model can now use a Coinjoin feature to preserve their privacy. This feature went live on April 19th and it enables bitcoin users to obfuscate their UTXOs by mixing their funds with a pool of other users. The technology has been available since 2013 and several other blockchains have utilized this scheme to mix UTXOs.

Btcpay Introduces Plugin

The open-source bitcoin payment processor Btcpay had also collaborated with the Wasabi developers and introduced a Coinjoin plugin for merchants at the end of February 2021. Merchants who activate this plugin can mix their UTXOs with other bitcoin transactions. Currently, this feature is unavailable on the Trezor Model One but Trezor is testing this idea on its older device.

Controversy Surrounding Wasabi’s Process

There is controversy associated with Wasabi’s Coinjoin process as there have been speculations that Chainalysis is tracking the Zksnacks Coinjoin coordinator. The blockchain analysis company may be able to de-anonymize some users‘ transactions which goes against preserving user privacy.

Network Fee & Coordinator Fee

Users must pay both a network fee and coordinator fee when using this service in order to successfully mix UTXOs. Additionally, they are encouraged to leverage Tor while utilizing its software in order to maintain an extra layer of security and privacy over their transactions.

Conclusion

Coinjoins are an excellent way for users to protect their data and stay anonymous while transacting online but they need to understand all potential risks before opting into these services or plugins – else they may become vulnerable due to malicious actors trying track them down through blockchain analysis companies like Chainalysis

Trezor Brings ‚New Era‘ of Privacy with Coinjoin for Trezor T Model
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