Incognito mode for crypto
Blockchains have introduced an entirely new asset class: cryptoassets. These cryptoassets use peer-to-peer technology to operate without central authority or banks. The management of transactions and the issuance of cryptoassets are carried out collectively by the users of these networks. Bitcoin was the first cryptoasset; today there are over 1,600. People have started buying Bitcoin, instead of gold, as their long-term store of value. Stored under the mattresses of volatile economies, the world?s most desirable fiat currencies are being replaced by stablecoins, that can be sent and received with borderless freedom. Waves of startups now sell their native cryptoassets to investors, not equity. For those who value privacy, cryptoassets come with a significant tradeoff. Transactions are recorded on public ledgers, displaying amounts involved, inscribing virtual identities of their senders and receivers. Given the choice, we firmly believe that very few people will willingly disclose their crypto financials to the entire world. Existing solutions like Monero, Zcash, Grin, and Beam introduced their own version of cryptocurrencies that focus on privacy. Incognito takes a different approach, based on the premise that people don?t want a new cryptocurrency with privacy. What they really want is privacy for their existing cryptocurrencies: incognito mode for any cryptocurrency. Privacy needs to be ubiquitous, inclusive, and accessible. Incognito is designed so users don?t have to choose between their favorite cryptocurrencies and privacy coins. They can have both. They can hold any cryptocurrency and still be able to use it confidentially whenever they want.