Operating anonymously and free from the influence of the government and other centralised agencies has always been the main agenda of the cryptocurrency industry. In light of this, CoinJoin— a method of anonymizing bitcoins was developed. Based on a recent report, the method has been used to send the world’s largest anonymous bitcoin transaction.
Coinjoin and Bitcoin 10th Year Anniversary
Coinjoin was developed by Gregory Maxwell. The method has been described as a way through which Bitcoin users who are particular about truly staying anonymous can transact.
The idea behind the method is quite simple: if two or more bitcoin users are willing to make their transactions together, their information remains private or at least very hard to discern.
To mark the 10th anniversary of the Bitcoin whitepaper, a CoinJoin worth over $200,000 was initiated. This particular join was said to involve several participants, with the largest transaction in the cluster said to be about half the entire volume of BTC transacted — 14.8 BTC was moved to address bc1qqcrmkvp97ryyvfu3crp6883v5caunq6v2960sc.
The details of the transaction were made known by the creator of the Wasabi Wallet, Adam Ficsor. He made it known on his official Twitter page. The transfer was also done through the Wasabi Wallet.
Wasabi Wallet Help With Improving The Fungibility Of Bitcoin
The Wasabi Wallet project is a desktop bitcoin wallet project which focuses on enhancing the privacy of BTC transactions through the use of CoinJoin and other methodologies. The wallet has been designed to help with improving the fungibility of bitcoin.
Fungibility is a concept which makes it possible for every bitcoin (BTC) to be interchangeable regardless of who has held it or what purpose it has been used for. Expert has described the lack of fungibility has a very dangerous economic precedent, and technologically speaking, and going by its definition, fungibility is avoidable.