Async Payjoin has emerged as an advanced and effective method to improve Bitcoin privacy, designed to ensure confidentiality in Bitcoin payments much like HTTPS does for the web. Developed quietly by the Payjoin Foundation, this toolkit aims to be widely adopted across Bitcoin wallets to provide large-scale privacy enhancements. Built in the style of Bitcoin and Lightning Network development kits, Async Payjoin employs the same cryptographic principles found in Bitcoin Core, allowing seamless integration into the main Bitcoin network. It is specifically designed for adoption by both everyday users and developers.
Offering an open-source and free software solution similar to Let’s Encrypt, which popularized HTTPS on the web, Async Payjoin addresses Bitcoin privacy challenges under an open standard, distinguishing itself from specialized privacy wallets like Samourai and Wasabi. As a software library, it can be incorporated into any Bitcoin payment application. The new version, V2 or Async Payjoin, improves upon the original V1 by eliminating the need for both parties to be online simultaneously. Several well-known Bitcoin wallets, including BTCPay Server, Blue Wallet, Bull Bitcoin Mobile, Wasabi Wallet, and Sparrow Wallet, currently support various Payjoin versions, and the protocol remains compatible with older wallets to ensure smooth user experience.
Payjoin obscures Bitcoin transaction identification through a unique technique, making it difficult for blockchain analysts to track users’ financial activities. This process is fully non-custodial and requires mutual consent from both parties for any transaction to complete. The Payjoin Foundation is a nonprofit organization dedicated to developing open-source privacy tools, supported by several reputable entities and staffed by experienced developers with notable contributions to Bitcoin privacy. This technology enhances Bitcoin fungibility, a critical attribute for a robust and trustworthy cryptocurrency. Adoption of Async Payjoin will not only increase users’ financial privacy but also make Bitcoin usage more secure and private overall.
Source: bitcoinmagazine
