For those people who can’t get enough Bitcoins in their life, a new option is emerging. Known as Bitcoin Incognito, it is another attempt at fixing some of the glaring issues which Bitcoin presents.

Whether or not this new fork will succeed is unclear, but more competition isn’t necessarily a bad thing. One of the biggest misconceptions people have about Bitcoin is that it is anonymous.

That is anything but the case, though, as Bitcoin has neither anonymity nor privacy features. The currency allows one to be pseudonymous – similar to an online nickname – but not anonymous. Some projects are trying to address this lack of anonymity through various means.

In the case of Bitcoin Incognito, there isn’t much information to go by at this time, as the project was only announced Friday afternoon. From what little information has been made public, it’s evident Bitcoin Incognito will primarily focus on proof-of-stake and masternode solutions.

Anyone who has paid close attention to the various altcoins on the market will have noticed that masternodes are quickly becoming more popular. It is a system that many currencies are embracing, although it is not something one would ever see as being part of Bitcoin itself. Bitcoin Incognito thinks it is a good time to take the plunge in this regard, although it remains to be seen how this will pan out when combined with proof-of-stake capabilities. Read more from themerkle.com…

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