Hey privacy supporters!
The dev team finalized the development roadmap for Q2 (May, June, and July) of 2022. Persisting in the privacy nature of Incognito and listening to the community’s demands are what always drive our direction in making an action plan.
Here are what we commit to deliver in Q2:
Key result 1: Release Instant Finality to reduce the transaction processing time by 50%.
The current design of the Incognito blockchain requires 2 consecutive blocks to guarantee that a transaction will not be reverted. Instant Finality will remove the requirement of 2 blocks and allow transactions in the current block to be finalized once they are gathered and get enough votes from committee validators.
Effect on end user: Users will enjoy a 2x faster speed for swaps, cross-shard transfers, and pApps processing time.
Key result 2: Skip chaining empty blocks.
Keep adding new blocks without any transaction results in over-occupied disk storage and directly affects the effectiveness of network validators. In this quarter, we will work on an upgrade so the blocks with no transaction or instruction will not be added to the chain. This will also come up with a new challenge for the team to recalculate and propose a new formula for block rewards to maintain the total PRV supply.
Effect on end user: Validators won’t need to store unneeded blocks which will help reduce significant required storage in the current network situation.
Key result 3: Reduce block time from 40s to 30s.
Currently, a new block on Incognito chain is confirmed after 40s. In this quarter, we aim to speed up the transaction processing time by reducing block time to 30s/block. This development will only be implemented after we deliver key result 2.
Effect on end user: Swap and pApp processing time will be extra improved by 25% multiplied by the speed achieved from Instant Finality development.
Should you have any questions regarding the infrastructure layer, please contact @0xkumi for further discussion.
Key result 4: Release One-time shielding address.
Since a detailed proposal for this feature was published in January, we have seen lots of interest and support from users. OTA shielding address is estimated to be officially released by end of July and will support shielding from BTC and EVM-based networks.
Key result 5: Improve tx verification time by 50%
This improvement will support Block time reduction as stated in Key result 3.
Should you have any question regarding privacy improvement, @daniel is the right member to reach out to.
Integration and Privacy Apps
Key result 6: Deploy bridges to
Terra and NEAR networks.
Seeing the demand to store, transfer, and trade NEAR and
Terra assets privately, in this quarter, we will build the 14th bridge to Terra and the 14th bridge to NEAR protocol.
New bridges will come along with new utilities. Privacy Multichain, pStable Coin, and Privacy Savings are 3 new products that we plan to build in Q2. For those who have been waiting for pUnified Token feature during the previous months, pStable Coin is not only the continuation of the development, but also an upgrade version of the utility.
What potentials do you see from those new products? Do not hesitate to visit this topic and share your feedback.
Should you have any question regarding bridges and pApps, @hiennguyen is the key member to discuss.
Key result 7: Launch Wallet Extension.
In addition to mobile application, wallet extension is providing users with a new option to interact with Incognito blockchain. Using Incognito extension, users can manage their keychains as well as balance, store and transfer tokens in a web-based environment.
Key result 8: Launch a Web-based application.
The first web-based application to be built after wallet extension will be the privacy exchange (known as pDEX for familiar users). Once this product is launched, users can trade crypto assets, view charts, and hopefully add liquidity on web-based interface.
Should you have any question regarding Web-based products, please ping @hieutran for further discussion.
For the first quarter of having the Growth team back, here are the goals and activities that Growth team will work on:
- Grow $1.5M total TVL.
- Grow 75% of 24h Trading volume.
- Grow 15% of the total Liquidity Pool.
To achieve the goals committed above, Growth team will focus on these activities:
- Get grant and cross-marketing with
Terra, NEAR, Polygon, and Fantom.
- Partnership with dApps projects.
- Community referral.
- Get Incognito listed on major listing sites.
- Public Relations (TBD)
Products support Growth
To support Growth metrics, here are 2 products that Dev team will collaborate with Growth team to build:
Referral program: Similar to other tech projects, we believe that referral is one of the most effective ways to acquire new users. However, different from the majority of projects on the market, the referral mechanism of Incognito needs to be designed in a way that preserves users’ privacy.
Incognito Explorer v.2: Definitely! The current explorer site only contains basic information about the network. We believe that users want to deep dive into the network more than that. Explorer v2 will appear with more insightful charts, more essential information, and a new interface structure.
We will keep the community posted on every achievement/ new product launch. Thank you for being around and using Incognito products!