Every day, thousands of innocent bitcoin users are targeted by blacklists.
Centralized services suspend users and lock funds based on bogus blacklists and reports published by Blockchain Analytics companies.
These companies scan the history of the last 4 transactions associated with the incoming addresses. Your coins can be frozen for their past activity. Even if they weren't in your control at the time.
Protection with the flip of a switch.
Toggle Ricochet before sending to any centralized service such as Coinbase, Shapeshift, Localbitcoins, and Gemini to add additional hops of history to your transaction.
How it works.
Ricochet doesn't solve the problem of blacklists but it does present a means of attacking the way spies build those blacklists.
Hop 0 - "The Setup"
The wallet collects the needed inputs and calculates the total miners fee for the entire ricochet.
The wallet broadcasts the first decoy transaction. This will look like an ordinary transaction.
The wallet broadcasts the second decoy transaction. This will look like an ordinary transaction.
The wallet broadcasts the third decoy transaction. This will look like an ordinary transaction.
Hop 4 - "Final Destination"
The wallet broadcasts the last transaction to the final destination with the correct amount.