According to a study released by Longhash on April 29, 2019, the relative usage of CoinJoin out of all bitcoin transactions has tripled in one year, currently sitting at 4.09 percent.
CoinJoin was first proposed in mid-2013 as part of many solutions to solve the issue that bitcoin transactions are not genuinely anonymous. Considering that transaction histories can be easily traced on the public ledger, anyone with the technical know-how and resources can perform transaction analysis to de-anonymize users.
CoinJoin works by allowing multiple users to pool their individual transactions into a single, grouped transaction. This, in turn, scrambles the funds in this pool to obscure the link between sending and receiving addresses. This shuffling greatly improves anonymity and has become a favorite of privacy-minded bitcoiners.
Longhash’s report acknowledges that several early spikes in the relative prominence of CoinJoin-type transactions can be attributed to early tests of the technology and the release of Shared Coin integration…