We’d like to sincerely thank all of you who joined the AMA with Aurora Insider on 29th December 2022 on Twitter Space. We appreciate all your support. This is a recap of the entire session, in case you missed it!
1. What is incognito?
Incognito is a layer-1 blockchain that aims to bring privacy to both crypto assets and decentralized applications. Incognito supports multi-chain integration via the bridges built to 13 major blockchains on the market: Bitcoin, Ethereum, BNB Chain, Polygon, NEAR, and Aurora.
2. What is the problem incognito trying to solve? And how do you solve this?
Problem: Transactions are recorded on public ledgers, displaying amounts involved, and inscribing the virtual identities of their senders and receiver. In other words, anyone can see to who and how much you transfer your money. They shouldn’t be able to do that without your consensus, violating your privacy and your right to own and protect your information.
Solution: Incognito built bi-directional bridges to other blockchains so crypto-assets from the blockchains could go in and out Incognito easily. You can SHIELD crypto-assets to Incognito via a bridge, then your assets will enter Incognito mode and allow you to privately send, receive, or anonymously cross-chain trade crypto. You can also withdraw crypto back to the original blockchain at any time.
3. Aurora Intergration Progress
We will bring a privacy layer to all of your favorite DApps on Aurora, creating a seamless on-chain experience. We are happy to announce that Trisolaris is the first application we will support right after the AMA. Right now you guys can download the Incognito Wallet, join the reward program and get the first 10 PRV and use that to interact with Trisolaris Privately.
4. Incentive Program
Right now Incognito chain is offering a good incentive program for PRV holders. You can use PRV and stake to provide more decentralized power to the network and earn block rewards with your PRV. Since we established a functional bridge with Aurora network and Near, you can move your funds across 3 blockchains easily.
5. It means that users have to move their funds into Incognito blockchain. Why?
The infrastructure of public ledger blockchains like Aurora, Ethereum, or EVM compatible blockchains require 4 information {from}, {to}, {ammount}, {token} for each transaction. With incognito, we utilized Zero-knowledge Proof as the fundamental when developing our blockchain, there for all of the transactions will naturally exclude all of this information. This will help us provide privacy from the blockchain level and don’t have to work around the certain architecture of existing blockchains. Our blockchain is up and running for 3 years and we didn’t have any downtime or issue from our users moving funds in and out of Incognito Chain.
Keep an eye on our Twitter for coming collaborations and activities!