Trezor Model T gets Bitcoin privacy upgrade with new CoinJoin feature

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Crypto hardware wallet company Trezor has collaborated with Bitcoin privacy firm zkSNACKs to introduce CoinJoin on its Model T device. CoinJoin is a way to combine multiple bitcoin transactions to improve privacy.

Trezor claims that the Model T is the first and only hardware wallet to enable CoinJoin transactions for Bitcoin. Several hot software or wallets like zkSNACKs Wasabi Wallet already have CoinJoin. The feature will roll out to Trezors Model One devices at a later date, according to the company.

Most transactions on the Bitcoin blockchain are publicly available. A basic tool like a block explorer, cryptocurrency transaction analysis software, is enough to link these transactions to real identities and violate users’ financial privacy.

CoinJoin attempts to restore privacy by combining multiple bitcoin payments from multiple spenders to produce a single transaction with obfuscated history and ownership.

CoinJoin can be done through decentralized marketplaces such as JoinMarket, or through wallets such as Trezors Model T or zkSNACKs Wasabi wallet. Model T and Wasabi both use zkSNACKs CoinJoin service which charges a coordination fee of 0.3% of the joined amount according to Trezor.

Per Trezors version: users simply click the anonymize button. Users then choose the number of CoinJoin rounds, with each round increasing the level of privacy confirming their choices on the Trezor device, and the rest of the coinjoin process is automated and requires no active user participation.

Trezor considers privacy as the most important asset of individuals, said Matj k, CEO of Trezor. Therefore, we are glad to have found a way for our community to keep their bitcoin history private.

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