JoinMarket is software to create a special kind of bitcoin transaction called a CoinJoin transaction. It's aim is to improve the confidentiality and privacy of bitcoin transactions.
JoinMarket is software to create a special kind of bitcoin transaction called a CoinJoin transaction. Its aim is to improve the confidentiality and privacy of bitcoin transactions.
A CoinJoin transaction requires other people to take part. The right resources (coins) have to be in the right place, at the right time, in the right quantity. This isn't a software or tech problem, its an economic problem. JoinMarket works by creating a new kind of market that would allocate these resources in the best way.
A CoinJoin transaction requires other people to take part. The right resources (coins) have to be in the right place, at the right time, in the right quantity. This isn't a software or tech problem, it's an economic problem. JoinMarket works by creating a new kind of market that would allocate these resources in the best way.
One group of participants (called market makers) will always be available to take part in CoinJoins at any time. Other participants (called market takers) can create a CoinJoin at any time. The takers pay a fee which incentivizes the makers. A form of smart contract is created, meaning the private keys will never be broadcasted outside of your computer, resulting in virtually zero risk of loss (aside from malware or bugs). As a result of free-market forces the fees will eventually be next to nothing.
Bitcoin Hodler
5 years ago