A new era for hardware wallets? As wallets of this type come under increasing scrutiny from regulators, Trezor has just expanded its anonymity options. It is now possible to carry out transactions with Coinjoin, directly from the wallet.
Trezor now offers anonymous bitcoin transactions
Announced last fall, this development was made possible by a partnership with the anonymous wallet Wasabi. As a reminder, the Coinjoin technology allows, as its name suggests, to mix assets, in order to hide their origin. and offer better anonymity to users. Transactions are grouped with hundreds of others, blocking any attempt to determine the origin and destination of funds.
“Pay with your money, not your data.This is how the option, unveiled by Trezor yesterday, is presented. The wallet details several benefits, including protection against fraud, and keeping amounts held in cryptocurrencies anonymous. In addition, Trezor emphasizes the interest of anonymity options for people subject to authoritarian political regimes.
For now, the option is only available on the Trezor Model T, and not on the Model One. But it will eventually arrive on the latter, according to the company. Coinjoin usage fees amount to 0.3% of the transaction amount.
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The use of Coinjoin criticized by some
However, the anonymity options offered by Coinjoin are sometimes criticized – and the initiative of Trezor has revived the debates. The company is thus blamed to censor Coinjoin transactions according to government lists:
Trezor is hiding all replies to its tweets that mention the fact that it will be censoring Bitcoin addresses that the government asks it to block from its new Coinjoin feature. https://t.co/CdWu5CHkRD
—Chris Blec (@ChrisBlec) April 19, 2023
Separately, questions have been raised about the effectiveness of Coinjoin. Rumors have been circulating for some time about the ability of the analysis firm Chainalysis to “unravel” transactions. According to the firm Elliptic, Coinjoin transactions can be revealed… But only in certain cases where the user has made mistakes, for example by reusing an address.
Beyond these considerations, we can nevertheless retain that this is a rather symbolic step forward for Trezor, at a time when governments and regulators are chasing anonymity in the cryptocurrency sector. It shows that the “monetary sovereignty” so defended by cryptocurrency enthusiasts is not just a keyword, but that real issues are emerging over the years.
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Source: Trezor
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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