Now at first glance that statement feels a bit superfluous, a play on words if you will. Leaving the suggestion that the two might more or less be equivalent. However, as it stands there are some significant differences between those two positions and there is a whole market developing around finding ways to take transactions on the blockchain and make them (if not perfectly anonymous) closer and closer to anonymity with each added layer of security.
Case in point Darkcoin, utilizing what it calls “Darksend” manages to make it very difficult to track transactions through “the
mixing of inputs and outputs going through the Darksend system. A
user’s payment is automatically split into smaller denominations and
pooled with the split-up payments of other users. Receivers of payments
draw these denominations automatically from the pools until they have
received the correct amount. Anyone viewing the blockchain will see payments being made but they won’t be able to see who paid who.”So sitting at slot 7, with a little over 4.5 million units of DRK available at a price of 0.00638474 BTC per unit we end up with a marketcap of 29,260 BTC (14,790,424 USD). Suggesting that at the very least there’s 14 million dollars betting on the idea that the market just might want some anonymity features that Bitcoin, in it’s current form, cannot provide. Yet Darkcoin is hardly the only player in the anonymity game.
Just a few slots down in the 18th spot we have BitcoinDark (are you sensing a theme yet?) with a current 3,143,825 USD in terms of market cap. Relying on an “off- blockchain private network” to accomplish what it is calling “Teleport Technology”. Something that, according to Darkcoin developers, can be applied to any cryptocurrency thus potentially making the entire market anonymous in one fell swoop.
Yet my current favorite in the anonymity scene (if for no other
reason than because it breaks the “Dark” name theme) is currently at
slot 51, named ducKnote. A fork of Bytecoin, utilizing the same cryptonote technology
it claims to “provide unlinkable and untraceable transactions”. While
it is currently enjoying an opening burst, as many alt-coins do,
sometimes opening burst continue on to become something more. Only time
will tell if that can be said of ducKnote.
Last (but perhaps not least) on my list of anonymity focused choices is Icognito Coin, the community based relaunch of which was covered by our own Armaan Chandnani.
Utilizing what it is calling “Bitkey Technology” it claims to create
anonymity by handling the transactions in a Bitkey-transport layer.
Whether or not that is sufficient to create actual anonymity is unclear
to me at this time however should it prove a reliable method, Bitkey
technology can be used on any and all cryptocurrencies currently in the
market. Meaning once again, we can add anonymity to any coin, token, or
share of our choice. If that is true then we can expect Incognito Coin’s
current market cap (clocking in at 30,964 USD) to grow in time.Read more at:
http://bitcoinist.net/market-focus-anonymity/
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