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

The CoinJoin protocol enables a trustless bundling of Bitcoin transactions. The goal of this technique is to provide an extra layer of privacy to users. 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. You don't register your name when you open a Bitcoin wallet, but there are still digital footprints that…