What are the functions and transactions of Wasabi Wallet?
Functions of Wasabi Wallet :
The Wasabi Wallet has some additional functionality around its built-in coin join technology, which is super exciting, so why are they doing that wasabi? If you think it is fascinating, you know, software that embeds a lot of critical benefits around privacy, so they’re fully open source non-custodial. So you own your you know your keys privacy-focused bitcoin wallet. It’s a hot wallet, so it’s on your computer now. It’s not on mobile for you for security reasons. But as you’ll see on their website, they articulate several benefits. As they get into that, it’s super important that you know you’re using the website you will link in the order down given by them.
The Wasabi Wallet, you know, doesn’t go anywhere else. There are bad actors out there, so be careful with all That. But in any case, they cite some critical benefits of built-in coin joins that are super exciting for them. A coin joint, as you’ve alluded to in prior Segments, is essentially a mechanism to obfuscate who owns what coins, so how that works is multiple participants will contribute Inputs. They uh their kind of unspent coins right from a wallet into that overall transaction, which mixes everything together.
That makes it extremely difficult to understand the lineage of those coins going back. That is important because that helps solve the lack of perfect fungibility with Bitcoin. That may seem odd to you, so fungibility is essential that one bitcoin is the same as another Bitcoin. that is a crucial property of money, right, and that is true from a kind of technology implementation standpoint. It’s not necessarily true from a sort of societal Standpoint.
Transactions of Wasabi Wallet :
What do you mean by that? Let’s say there is two bitcoin out there. One bitcoin came from Bob. You know, 100 transactions ago where bob used it for some illegal activity, right, passed from Hand to Hand. Now it’s with you versus that other coin from Alice, which was 100 transactions ago. You know it’s clean. So you have that kind of dirty bitcoin defined by some Versus. That clean bitcoin, and so for Some, they’re going to value one more than the other naturally. So there’s not that kind of perfect fungibility with bitcoin, at least at that kind of societal Layer. So coin joins are super crucial for that.
There’s Wasabi Wallet also, as you can see the integrated, which is lovely again. that is all just kind of overall privacy enhancing you beyond the fungibility question. If you think many of us want privacy rights, you mean privacy is a fundamental tenant and foundational pillar of Freedom. So you know they don’t want folks tracking everything. That they do with their hard-earned money, the other benefit is around good coin control features. So, you’ll often hear UTXO, which stands for unspent transaction Output, which is essentially how bitcoin accounting works. So whenever you execute a transaction. that transaction is inclusive of inputs, so the coins that you put in, and then there is an output to whatever wallet address you are sending.