Sharedcoin trustless mixing now available for testing
Sharedcoin uses a technique known as coinjoin to provide coin mixing without needing to trust any third party with your funds. The service still relies on a centralised server but that server only co-ordinates transactions without any funds passing through it. The main advantages are significantly less risk for both the user and operator and no requirement to keep any logs.
Anyone interested in testing can login using the following link:
The current client stages are:
- The client will submit its "offer", which is the inputs it wants mixing and the desired outputs.
- The server waits a certain amount of time for other clients to submit their offers.
- The server combines everyone's offers and creates a "proposal".
- The clients check they are happy with the proposal and signs their inputs.
- The server submits the final transaction.
The entire process takes about 40 seconds.
Features currently supported:
- Variable number of inputs and outputs per client
- Variable input and output values.
- Randomised fees.
- Ability to draw upon reserve funds when no other participants are available for mixing.
- Taint analysis determines the appropriate inputs to mix.
- Multiple iterations using temporary addresses never saved inside wallets.
- Better randomisation of change outputs and splitting of outputs between multiple iterations.
- Better progress indication.
- Documented Client APIs and SDK.
Example sharedcoin transaction:
The amount currently available in the reserve pool is low, this will be gradually increased over time but during the testing phase if anyone manages to manipulate the client to withdraw excess funds from the pool they can keep that amount.
Client source available at: https://github.com/blockchain/My-Wallet/blob/master/sharedcoin.js
Server status can be viewed while testing at: https://api.sharedcoin.com/