delvingbitcoin

Who will run the CoinJoin coordinators?

Who will run the CoinJoin coordinators?

Original Postby kravens

Posted on: August 28, 2024 17:15 UTC

JoinMarket operates as a distinctive platform in the cryptocurrency domain, particularly focusing on Bitcoin transactions.

It introduces an innovative approach to increase transaction privacy through a mechanism known as coinjoin. This process involves two main types of participants: Makers and Takers. Makers contribute by offering their Bitcoin to be mixed, thereby providing liquidity to the system. They are incentivized to remain online consistently to facilitate transactions whenever needed. On the other hand, Takers are those individuals or entities seeking to enhance their transaction privacy. They engage with the system sporadically, choosing from available Makers to execute a coinjoin. For the service provided, Takers compensate Makers with either a percentage of the transaction amount or a predetermined flat fee. This model not only augments privacy within Bitcoin transactions but also fosters a dynamic ecosystem where participants benefit from mutual cooperation.