Hardware wallets now support the privacy-enhancing CoinJoin transactions introduced by the Trezor hardware wallet and anonymous bitcoin wallet Wasabi Wallet.
The two projects announced the collaboration on Twitter on Monday. Starting in 2023, users will be able to use CoinJoin on their Trezor devices to boost transaction privacy.
What is CoinJoin?
Combining multiple transactions from various users into a single transaction that is recorded on the blockchain using the CoinJoin method makes it more difficult for people who see that single transaction to trace back all the original transactions from the different users consolidated upstream.
The idea behind this collaboration
By allowing users to use CoinJoin on their Trezor devices, this initiative aims to increase transaction privacy. It should be noted that the Wasabi wallet was created by zkSNACKs and employs CoinJoin technology.
“You will be able to join our zkSNACKs Wabisabi CoinJoin rounds with your hardware wallet in the Trezor Suite application,” announced Wasabi Wallet contributor Rafe.
Rafe claims that Trezor’s action was calculated based on the fact that “this is the most advanced CoinJoin protocol” currently in use.
The reason of partnership behind this collaboration
The partnership was established due to discussions that started in 2019, according to Karo Zagorus, who oversees community and reputation management at zkSNACKs and called it “a phenomenal achievement.”
According to zkSNACKs and the wasabi wallet team, cryptographic privacy is more crucial than ever. This is due to their assertion that government surveillance is growing and that financial transactions may one day be utilized to track what citizens do closely.
