CoinJoin – What is the CoinJoin Protocol and How Does It Work?

The CoinJoin protocol enables a trustless bundling of Bitcoin transactions. This technique aims to provide users with an extra layer of privacy. Notably, CoinJoin transactions are not impossible to decipher using current statistical analysis tools and correlation techniques, but they are far more expensive and difficult to track. Many years ago, most Bitcoin users believed that the network provided anonymity. For example, you don't register your name when you open a Bitcoin wallet, but there are still digital footprints that could…