More

    Samourai Crypto Wallet Launches New Ricochet Crypto Asset Tracking Service and Privacy Features

    One of the most popular Bitcoin wallets, Samourai Wallet, has introduced a new privacy feature that will allow users to be protected against coin tracking services. In some cases, users’ funds can be blocked by other platforms and exchanges.

    Samourai wallet has always been working in order to provide new privacy features to Bitcoin and crypto users. Using military-grade AES-256 encryption, the wallet gave users an enhanced security experience without necessarily sacrificing efficiency. There is always a trade-off between efficiency and privacy because new features make different functionalities slower or less compatible with other services.

    There are several companies in the space that can block or blacklist funds that could be related to illegal activities or hacks. Firms tend to have an actualized list of accounts and transactions that are associated with attacks and hacks.

    With the new feature called Ricochet, the wallet is able to add hops and steps to every single Bitcoin transaction processed. In general, blockchain softwares take a look at the last five hops. This spying software will have to look even deeper to achieve the same level of security that now they have now. Nevertheless, taking a look at ten transactions is almost impossible for applications because of the expensive costs associated with it.

    Ricochet transactions were updated back in May 2018, to use Samourai’s native SegWit bech32 addresses. The company has also introduced a new algorithm that reduces fingerprint of the Ricochet transaction on the network.

    Samourai wallet is one of the few free and open-source crypto wallets available on the market. Because of this, Samourai has been criticized since they do not have monetization options. The main question that individuals were making was related to how the company remained profitable.

    With this new premium feature, the company was able to monetize the wallet and keep the wallet far from KYC requirements and exposing users’ data to third parties.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,365FansLike
    2,781FollowersFollow
    4,135FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Cash is King in Coronavirus Ravaged Economy But Bitcoin is “Next in Line to the Throne”: Hedge Fund Manager

    Mark Yusko, the CEO at Morgan Creek Capital Management says coronavirus is unleashing a once in a lifetime downturn. Yusko appeared on CNBC’s “Trading Nation”...

    Bitcoin’s is Gold 2.0; Billionaire Chamath Palihapitiya Lays Out BTC’s Path Forward in Macro Backdrop

    In the latest episode of The Pomp Podcast, host Anthony "Pomp" Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who...

    Binance ‘Leak' Signals Possible Bitcoin Options Trading Launch On The Exchange

    The competition across cryptocurrency exchanges in the crypto derivatives markets is heating up to a boiling point as yet another big player hints at...

    BTC Isn’t a Hedge Against Stock Market’s Poor Returns or Coronavirus But US Dollar & Inflation: BitGo CEO

    In 2020, Bitcoin has been following stock markets religiously, so much so that their correlation went to a new high. But now, the flagship...

    Netflix's ‘Tiger King' Villian, Carole Baskin at The Big Cat Rescue Accepts Crypto Donations

    With the Coronavirus (COVID-19) running rampant in the United States, Americans are drooling over the hot new docuseries on Netflix; “Tiger King: Murder, Mayhem...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.