1.coinjoin is decentralised which is a benefit over bit laundry
2. Failure retry risks when one party is not happy and won’t sign off and the individual creating the transaction would have to try again.
3. By increasing the ammount of transactions it is creating more anonimity
4. CJ doesn’t need to cause a soft fork on the network
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- BitLaundry is a centralized exchange and you have to trust them. CoinJoin is decentralized and to spend some money either the sender and the receiver have to accept the tx to be processed.
- The risk of the transaction failing may happen because of a DOS attack or because a participant of the transaction doesn’t sign his part.
- Increasing the number of transactions included in the process.
- Zerocoin requires a soft-fork change from BTC protocol. CoinJoin tx already works and they are indistinguishable from normal tx.
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CoinJoin doesn’t rely on a centralized service, but rather bitcoin users co-ordinating amongst themselves in order to obfuscate transaction activity.
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For Coin Join to work, all the inputs set-up on a transaction must sign, if 1 person doesn’t sign, or one person’s signature is invalid, or possibly someone manages to spend inputs in another transaction before the CoinJoin transaction is broadcast, all others must retry with a new transaction.
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By increasing the number of inputs / outputs and by ensuring inputs and outputs of the same amounts.
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No Fork required.
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Is does not need a fork. It works right away on top of the bitcoin network. Plus, it needs less resources (computing, memory, fees). It is also more simple.
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CoinJoin is decentralized. Also CoinJoin allows Bitcoin users to come a agreement as to how many inputs will be used in a transaction. A transaction will not occur if users are not satisficed with the terms.
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Failure risk is when either on the parties for doesn’t sign for transaction or a DOS attack occurs which cause the transaction to not execute.
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If you make a joint payment, the transaction are smaller and cheaper, thus multiple transactions can occur increasing the anonymity set.
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There is no change to Bitcoin protocol as Zerocoin would require a softfork.
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- BitLaundry basically coordinates a random delivery time on top of more users
CoinJoin is users agreeing on a group of inputs and a group of outputs, by merging the signatures. - Is when one element of the group does not signs a transaction as valid
- You can basically cascade a ton of small transactions by using the CoinJoin method.
- No need for forks.
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BitLaundry was a centralised service CoinJoin is a mechanism that people can join
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Its related to the risk that the tx fails, basically when during the tx a DOS attack happens and the tx fails
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By doing lots of tx at the same time
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No need for a soft fork
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- What is the benefit of CoinJoin over BitLaundry, if any?
- BitLaundry requires some level of trust from users: users must trust that their Bitcoin is safe and will go to the intended recipient. CoinJoin requires no trust from users and is decentralized: users agree on a set of inputs and outputs, individually sign transactions and agree to merge signatures. The transaction is not valid until all signatures are provided, and no one will sign a transaction that is not to their liking.
- About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
- Failure (retry) risk is the risk that one of the participants doesn’t provide their signature, thus rendering the entire transaction invalid. The bigger the joint transaction (i.e. the bigger the number of participants), the greater the failure (retry) risk.
- How can anonymity set be increased while keeping small transaction sizes?
- By cascading the number of transactions. This allows the anonymity set to be any size, limited only by participation.
- What is the main benefit of CoinJoin over Zerocoin?
- Zerocoin requires a soft-forking change to the Bitcoin protocol, while CoinJoin would not require any modifications.
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. 1. What is the benefit of CoinJoin over BitLaundry, if any?
none, coinjoin bitcoin can still be blacklisted by “authorities.”(thugs threatening with social pressures or violence or imprisonment) true fungibility is needed.
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About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
if one person didn’t accept then there is a risk of needing to try again. i imagine it would be like a league of legends que pop issue sometimes -
How can anonymity set be increased while keeping small transaction sizes?
it shares a tx size with other people so it would reduce fees -
What is the main benefit of CoinJoin over Zerocoin?
Zerocoin requires a soft-forking change to the Bitcoin protocol among many other incidentals like new cryptography which may not be secure.
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- When using CoinJoin, the user never loses control over his currency. With BitLaundry, the currency changes possession. The user must trust BitLaundry to ethically complete the transfer.
- Failure Risk- when one of the parties involved fails to sign the transaction and therefore the transaction does not complete.
- Increasing the number of average size transactions.
- no soft fork needed.
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- One benefit would be that with CoinJoin it is much harder to trace funds directly to input and output amounts, since all output amounts are equal
- If a party refuses to sign the transaction or a DOS attack is successful then the transaction can fail for all participants.
- By adding participants to each transactions. The more participants the higher the anonymity set.
- CoinJoin works without requiring any fork to the Bitcoin protocol
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- What is the benefit of CoinJoin over BitLaundry, if any?
CoinJoin is, opposed to BitLaundry, decentralized! CoinJoin even allows users to decide how many UTXOs will be utilized for a transaction.
- About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
The risk is, that all parties need to sign the transaction, otherwise it will not go through. Also, a denial of service attack could cause the transaction to fail.
- How can anonymity set be increased while keeping small transaction sizes?
By increasing the average number of transactions, the anonymity set can be increased!
- What is the main benefit of CoinJoin over Zerocoin?
CoinJoin does not need a soft fork.
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CoinJoin is more decentralized than Bitlaundry therefore it is harder to backtrack transactions to users.
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Failure Risk is when one party doesn’t want to sign a transaction as valid. Meaning the individual making the transaction would have to retry again
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Because these transactions are cheap, there is no limit to the number of transactions you can cascade. Allowing you to create a network with many participants involved in transactions. The anonymity is determined by the number of users with the network. More users more anonymity
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It doesnt require an adjustment (softfork) to the bitcoin protocol
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CoinJoin - Reading Assignment
Questions:
- What is the benefit of CoinJoin over BitLaundry, if any?
A. CoinJoin is not custodial and integrated.
- About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
A. The huge transactions will stand out because it is much less likely for larger transactions to opt in rather than more modest size transactions and so the smaller transactions may show to have a greater anonymity set than the greater size.
- How can anonymity set be increased while keeping small transaction sizes?
A. "In particular, if you have can build transactions with m participants per transaction you can create a sequence of m*3 transactions which form a three-stage switching network that permits any of m^2 final outputs to have come from any of m^2 original inputs.” - gmaxwell
- What is the main benefit of CoinJoin over Zerocoin?
A. CoinJoin is less disruptive to the main chain properties and an opt in opportunity as opposed to ZeroCoin protocol. Which, would require a hard fork and all of the disadvantages of splitting the computing power which secures the true chain if the fork did not speak to all of the original bitcoin community.
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Actually zerocoin could be implemented in Bitcoin with a soft fork 
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1. What is the benefit of CoinJoin over BitLaundry, if any?
The CoinJoin approach is non custodial. All the users need to sign the transaction or it doesn’t go through.
2. About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
The more people participating in the transaction means that there is a higher chance that errors are introduced, or that one of the actors is a bad actor. Either scenario would cause the entire transaction to fail.
3. How can anonymity set be increased while keeping small transaction sizes?
By cascading transactions through CoinJoin. Doing it multiple times further anonymizes the sender and receiver.
4. What is the main benefit of CoinJoin over Zerocoin?
CoinJoin works with the existing protocol, and wouldn’t depend on Zerocoin being adopted by the bitcoin commutity and wouldn’t depend on them fixing/optimizing their code and performance problems.
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COINJOIN
What is the benefit of CoinJoin over BitLaundry, if any? The use of CoinJoin increases privacy. -
About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk. The failure risk is because the single transaction has too many participants, exceeding the transaction size limits. But transactions can be structured to accommodate any number of participants.
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How can anonymity set be increased while keeping small transaction sizes? By cascading the smaller transitions.
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What is the main benefit of CoinJoin over Zerocoin? CoinJoin offers privacy to larger anonymity sets.
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Both are privacy protocols, CoinJoin doesn’t rely on a centralized server
Zerocoin requires a soft fork on the Bitcoin protocol while CoinJoin can be used now.
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What is the benefit of CoinJoin over BitLaundry, if any?
CoinJoin is integrated and therefore decentralised. Unlike BitLaundry -
About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
Failure risk is when one of the parties involved does not provide their signature, therefore invalidating the transaction. The larger the joint transaction the higher the risk. -
How can anonymity set be increased while keeping small transaction sizes?
By transacting multiple small amounts which increases the vagueness of the entire transaction. -
What is the main benefit of CoinJoin over Zerocoin?
No need for a soft fork
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- What is the benefit of CoinJoin over BitLaundry, if any?
CoinJoin is a trustless method for combining multiple Bitcoin payments from multiple spenders into a single transaction to make it more difficult for outside parties to determine which spender paid which recipient or recipients. - About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
Failure Risk is when one party doesn’t want to sign a transaction as valid. Meaning the individual making the transaction would have to retry again - How can anonymity set be increased while keeping small transaction sizes?
By increasing the number of transactions happening within the process. - What is the main benefit of CoinJoin over Zerocoin?
Zerocoin requires a soft-forking change to the Bitcoin protocol. Unlike many other privacy solutions, coinjoin transactions do not require a modification to the bitcoin protocol.
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