Bitcoin community celebrates first CoinJoin Day

On April 5, the supposed birthday of Satoshi Nakamoto, the Bitcoin community celebrates CoinJoin Day for the first time.mixing transactions, technology aimed at increasing user privacy.

Contrary to the thesis often repeated in mainstream media, bitcoin does not offer complete anonymity. By analyzing the public blockchain, transactions can be associated with a specific person.

Many developers are currently working ontransaction privacy. One technology that can partly solve this problem is CoinJoin - transaction mixing. This is the mixing of coins of different users and their subsequent combination in one transaction.

These efforts are facing resistance.Suffice it to recall the story of blocking the withdrawal of funds from the Binance exchange, which was reported in December by one of the users of the Wasabi Wallet supporting CoinJoin.

As Binance head Changpan Zhao explained then,many do not fully understand the ins and outs of regulating the cryptocurrency industry, including the KYC and AML procedures and how they apply to various types of exchanges.

Analytical services like Chainalyisisoffer tools to identify transactions and assign risk levels. This threatens the interchangeability of coins: if a banknote of $ 100 (euros, rubles, etc.) used earlier for criminal purposes is accepted without question at any store without asking for its origin, then in the case of bitcoin, there is a chance that those marked coins will not be accepted or even frozen. This is the problem that CoinJoin solves.

Currently, it is supported by severalWallets - Samourai Wallet mobile with its associated Whirlpool technology and desktop Wasabi Wallet. In honor of today, the Wasabi developers have already introduced a new release.

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COVID-19 Coronavirus Pandemic Issuesprivacy is becoming more relevant than ever, and this applies not only to bitcoin, but also to cryptocurrencies with user anonymity algorithms.

Weiss Crypto Ratings analysts, for example, alreadyThey stated that the demand for anonymous currencies was highly likely to grow, and this statement is supported by figures. In March, the number of fully secure transactions on the Zcash network doubled:

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If you turn to the leading price chartscryptocurrencies for the first quarter of 2020, you can see that another private Dash coin turned out to be the growth leader - in the first three months its value grew by 63%. Among the cryptocurrencies that grew in price were Zcash and Monero.

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The true birth date of the creator of Bitcoin is notnobody knows. The theory that it falls on April 5 was put forward on Reddit six years ago. The assumption is based on the profile data of Satoshi Nakamoto on the P2P Foundation website, where you must specify the date of birth when registering. This version was supported by well-known representatives of the bitcoin community.

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CoinJoin Day is celebrated in his honor today.within which Bitcoin users are encouraged to pass as many coins as possible through mixers, making “every Satoshi dirty” and thereby force exchanges to abandon the practice of using transaction rating systems.