Trezor has collaborated with Bitcoin privacy firm zkSNACKs in order to introduce a new “CoinJoin” feature into its Model T device. This feature allows multiple Bitcoin transactions to be combined, resulting in an increase in privacy for users. The Model T hardware wallet is the first and only device of its type to enable CoinJoin transactions for Bitcoin, a feature already present in several “hot” wallets such as zkSNACKs’ Wasabi wallet. Trezor has indicated that this feature will also be available for its Model One devices at a later date.
Transactions on the Bitcoin blockchain are generally available to the public, potentially allowing the mapping of transaction activity to actual individuals or organizations. CoinJoin is designed to restore privacy by combining multiple Bitcoin payments from various individuals, resulting in a single transaction whose history and ownership are hidden.
The CoinJoin service can be accessed through decentralized coinjoin marketplaces, or integrated into wallets such as Trezor’s Model T or Wasabi wallet, which leverages zkSNACKs CoinJoin service with a coordination fee of 0.3% of the coinjoined amount, according to Trezor.