I will try to sketch the transactions graph of the three Coinjoin implementations that we have to better understand how they work. These are just abstractions, the real process being much bigger and with many more users.
Thread:
Thread:
@wasabiwallet creates one big round of coinjoin where many participants add different UTXOs and the outputs are equal size UTXOs that have high anonymity set but also change UTXO that is still linked to each user.
The change could be used for mixing later, a LN channel or donated
The change could be used for mixing later, a LN channel or donated
@SamouraiWallet 's Whirlpool creates continuous mixes between users and their UTXOs. Five UTXOs participate in each mix and no more than 1 output from a previous mix will be included in a following mix to prevent remixing with the same users. All outputs are equal.
In the following graph we assume "user 5" as the main user. We can see the coloring (the anonymity set) increasing and tending towards green. The coloring in here is only from user 5's perspective, all other UTXOs having different coloring from their perspective.
@joinmarket creates coinjoins from different size inputs, resulting equal outputs (and change) and then restarts the process with different users. After many mixes and matches the final output is consolidated in 3 UTXOs provided at the beginning of the process (can be from CC).
These are different implementations of the Coinjoin process. Some software are easier to use, some more difficult, and with different degrees of fees. Consider supporting the developers of these implementations and coinjoin all or part of your stash to preserve your privacy.
