Trezor activates the coinjoin data protection function for Bitcoin users
Trezor activates the coinjoin data protection function for Bitcoin users
On April 19, Trezor, one of the most popular cold wallets in the crypto community, has activated a new data protection function for its users through the coinjoin security protocol.
The new update for Trezor is now available for Trezor Model T user who simply have to add your coinjoin account to use the safety advantages of the decentralized protocol.
Coinjoin improves the privacy and anonymity of the user
Coinjoin is a veiling method in which various wallet addresses carry out organized operation and combine your entries into a single transaction, which makes it almost impossible for trackers to know the origin and goal of the funds held by each wallet. Trezor users can hide their transaction and their credit in the wallet if they carry out transactions.
The new implementation was made possible by collaboration with the data protection -oriented Wasabi Wallet, the open source and for Windows, Linux and Mac is available.
The decentralized mixed protocol Coinjoin is used to enable anonymity when carrying out transactions and to prevent the recipient from checking the history of the sender.
In order to activate the new update of Trezor, users have to add their coin join account in the main menu of Trezor, where there are also options for other accounts such as Segwit, Taproot, Legacy Segwit and Legacy.
The disadvantages of using Trezor's new update
The use of coinjoin requires a coordination fee, which makes transactions a little more expensive. So if you want to enjoy more security, you have to pay a small usage fee of about 0.3 %.
TREZOR warned in her contribution that coinjoin is “currently being tested publicly, so there are some warnings. In addition, the algorithm is still improved”, so that sudden changes can be expected.
In addition, it should be noted that the use of coin join can lead to longer transaction times due to the mixing process.
You also recommend "to limit coin joining to a maximum of 1 BTC to avoid that too many utxos (non -issued transaction expenses) are created". This means that transactions are initially limited to 1 BTC to avoid errors.
Despite the few disadvantages of the new update, Trezor shapes the ecosystem and becomes the first hardware wallet to implement the coinjoin protocol.
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