THE NUMBER OF MIXED CRYPTOCURRENCY TRANSACTIONS INCREASED BY 300%

Mixed cryptocurrency transactions currently account for 4.09% of all bitcoin payments.

According to data published by Longhash, the frequency of using CoinJoin technology, by which random transactions are mixed with each other to hide participants, has increased by 300% over the past 9 months.

Data were provided by Adam Fiscor, technical Director of zkSNACKs. The main product of the company is the Wasabi Wallet, aimed at increasing the level of anonymity for bitcoin users. Fiscor States that transaction using CoinJoin has reached its highest level since 2013-2014.

Mixing with CoinJoin and other mixers is becoming more popular as governments around the world are beginning to strengthen control over transactions on the blockchain. At the same time, law enforcement agencies often use specialized companies, such as Chainalysis, to prosecute hackers and criminals associated with cryptocurrencies.

Although anonymous cryptocurrencies are positioned as an alternative to bitcoin, in some countries it is becoming increasingly difficult to use them. In March, the Finance Committee of France called for a ban on anonymous cryptocurrency transactions, and in November, the highest legislative body of Taiwan has approved the amendments to the existing laws, which allow the regulator of the country to oppose the implementation of the anonymous cryptocurrency transactions.

The post THE NUMBER OF MIXED CRYPTOCURRENCY TRANSACTIONS INCREASED BY 300% appeared first on Bitcoin News.

from Bitcoin News https://www.cryptocynews.com/the-number-of-mixed-cryptocurrency-transactions-increased-by-300/
via Bitcoin News
via Bitcoin News Today