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Experts are wondering how effective this technology will be and whether it will be able to displace from the market and whether it will be able to displace services that preserve on-chain anonymity.
Note that CoinJoin is a technology for anonymizing bitcoin transactions. It was proposed by Bitcoin Core developer Gregory Maxwell back in 2013. The algorithm is able to mix the cryptocurrency of several participants at once, after which it distributes them in an equivalent amount. Due to this, a third party will not be able to identify the participants of the operation.
The technology is popular due to its implementation in large crypto wallets, such as Wasabi. But Mixer.money experts note that it has a drawback — the influence of the "legal" image of the technology.
It blocks dirty bitcoins, ensuring that participants are provided with clean coins. However, it does not check the recipients' wallets themselves. Therefore, coins can be transferred to sanctions.
The specialist also notes that despite decentralization and security, the technology is not able to provide 100% anonymity. This is due to the fact that the participants of the transaction are recorded in the blockchain. Therefore, it is possible to identify them using on-chain analytics.
