According to the latest report, the Samourai Wallet has launched the beta version of Whirlpool, a Chaumian CoinJoin implementation. The feature supports privacy of transaction by disassociating the senders and recipients of the cryptocurrency and making it challenging to track the crypto exchange.
The Samourai Wallet is one of the leading wallet services in the crypto space. It helps in keeping the transactions private, funds secured, and identity is hidden. By launching this new feature, the company has become the first company to offer such type of technology.
Whirlpool, a framework backed up by a collection of software tools that mathematically disassociates the senders from the receivers in a bitcoin transaction. This increases the privacy of the participants, protects against the financial surveillance, and as a whole increase the fungibility of the Bitcoin network. Whirlpool is a fully modular CoinJoin implementation based on a heavily modified fork of the ZeroLink theory.
CoinJoin is a process that involves anonymization and uses various software tools to enhance privacy. In 2013 Gregory Maxwell proposed a “Chaumian CoinJoin” for the first time. It is based on the idea to involve someone who also wants to make a payment and together make a joint payment.
Furthermore, other than the fact that it is quite challenging to organize a CoinJoin, there are several other restrictions also, including the single transaction block that can allow only a limited amount of data; this tends to limit the CoinJoin’s viability. Moreover, some of the Bitcoin enthusiasts believe that Bitcoin’s built-in transparency and some privacy are mutually exclusive. Samourai responded to this in a tweet: