zkSNACKs ends Coinjoin service on June 1st amid legal issues

Developers of Wasabi Wallet, a well-known Bitcoin wallet that focuses on privacy above all else, have now released a statement about what they intend to do in the future. Legal complications and developing issues concerning utilizing the advanced privacy feature Coinjoin have forced the team to withdraw its implementation for the time being. This was a very hard decision because Coinjoin has been a crucial reason for many people to choose our wallet.

Wasabi Wallet will still function as a standard Bitcoin wallet, allowing users to create their private keys for secure Bitcoin sending and receiving. Although the Coinjoin function will not be available, the wallet has a strong privacy system based on its built-in client-side filtering system, integration with the Tor network, and customized coin selection options. 

These components cooperate to keep Wasabi one of the most privacy-oriented light wallets available. However, it is crucial to highlight that without Coinjoin, transactions might not have complete confidentiality because of the inherent transparency of the Bitcoin blockchain.

A cease of Coinjoin also affects people who use other wallets relying on the zkSNACKs coordinator, among them Trezor Suite and BTCPayServer users. This thus indicates that there is already a larger impact on the crypto community as a whole.

The entity behind the Wasabi Wallet, zkSNACKs, laid stress that the solution was primarily meant for free and open source. They also ensured that the public knew they were continuously improving and creating better system versions. The community is supported in participating in the wallet’s development by reporting problems, suggesting code changes, developing the project, or even improving what already exists. Apart from that, zkSNACKs has helped fund the operation costs of the widgets.

Looking back at the wallet’s evolution since its first creation in 2018, the founding team of Wasabi noticed how they changed the old model of bitcoins as a private currency to the modern life experience. Through wide-ranging investigation and perfection since its creation, they have become proactive promoters of financial secrecy via Coinjoin; now, you can have a safe and undisturbed financial transaction.

Throughout these new hurdles, the Wasabi creators have achieved good things and know the difficulties that still need to be overcome. They were looking ahead to tomorrow, eagerly anticipating the successive releases that will make Bitcoin a perfect form of money. Meanwhile, in the near term, Wasabi Wallet will continue to provide privacy measures within legal limits while expecting some time before it can offer all Coinjoin capabilities, including the complete ones.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button