Wasabi is an open-source, non-custodial, privacy focused Bitcoin wallet, that implements trustless coin shuffling with mathematically provable anonymity: Chaumian CoinJoin, it is the first of its kind. However, "anonymity loves company", the more users there are, the better your privacy, and the fas...
## Summary: How to do Chaumian Coin Joins in Wasabi Wallet
This podcast episode provides a practical demonstration of how to perform Chaumian Coin Joins within the Wasabi Wallet, focusing on the steps involved in constructing and signing a transaction. The demonstration is conducted on the Wasabi Wallet testnet, allowing listeners to follow along without risking real funds. The process, while complex under the hood, is designed to be remarkably user-friendly, requiring only a few simple steps like checking coins, entering a password, and pressing "NQ." The episode highlights the benefits of recurring Coin Join rounds, which contribute to a larger anonymity set and allow for multiple transactions with the same inputs, ultimately leading to a state of "pretty much anonymous" funds, as demonstrated by the host. Future episodes will explore advanced topics like increasing the anonymity set and addressing edge cases related to UTXOs and reputation within the Wasabi network.
1. Main Topics Discussed:
- Chaumian Coin Joins: Explanation of the process and its purpose for enhancing transaction anonymity.
- Wasabi Wallet Implementation: Demonstrating Coin Joins within the Wasabi Wallet software.
- Testnet Demonstration: Performing the demonstration on the Wasabi Wallet testnet.
- UTXO Selection & Labeling: Importance of selecting and labeling Unspent Transaction Outputs (UTXOs) for participation.
- Minimum Coin Join Amount: Discussion of the 0.0301 Bitcoin minimum requirement and its implications.
- Coin Join Process Stages: Overview of registration, blinding signature exchange, unblinding, and final broadcasting.
- Recurring Rounds: How multiple Coin Join rounds increase anonymity.
- Anonymity Set: Explanation of what it is and the current limitations (low number of peers).
- Change Outputs: How change outputs are handled and queued for future rounds.
- Dynamic Coin Amounts: How amounts used in each round can vary.
- User Interface Simplicity: The ease of use for participating in Coin Joins.
- Future Development: Plans for future episodes covering advanced topics.
2. Key Quotes:
- "One is a change from an export to Eclare after we have imported it." (Highlighting the origin of UTXOs)
- "It's nice to understand how it works. Of course, it is tricky to understand. But ultimately the user interface is this simple."
- "And this is literally how easy it is. We have to check mark the coins that we want to use. We have to type in our password and we have to press NQ the selected coins for coins."
- "Yes, I got completely anonymous, pretty much anonymous, fake money."
3. People Mentioned:
- Host: (Unidentified, referred to as "we") - Led the demonstration.
- Alice: (Representational) - Represents a participant in the Coin Join.
- Bob: (Representational) - Represents another participant in the Coin Join.
- Pierce: (Guest) - Participated in the discussion.
- ZeroLink Wasabi backend: The system providing the Coin Join functionality.
4. Bitcoin Prices Mentioned:
- 0.0301 Bitcoin (minimum Coin Join requirement)
- 0.375 (initial input amount)
- 0.054 (Coin Join output amount)
- 0.32 (change received)
- 0.05077 (another Coin Join output amount)