To shield your crypto and use it anonymously on the Incognito network, there need to be interoperable bridges between Incognito and other blockchains.
There are already decentralized, trustless bridges to multiple chains, including Ethereum, Bitcoin, Binance, and others. But building trustless bridges is a labor-intensive process that takes time.
To help make the wait more bearable, we build trusted bridges first. This way, you can use your favorite currencies anonymously right away, while we work on further decentralizing the process.
This is a part of our pragmatic approach to decentralization. Decentralization is a huge priority, but often crypto projects make big promises about decentralization, and it takes them years to release anything useful. We work to build privacy products you can use now, while continuously increasing the level of decentralization, one stage at a time.
So the question remains, if there isn’t already a trustless bridge for your favorite cryptocurrency, when can you expect one?
Here’s our process for choosing which bridge to build, and when:
1: Check which coins are requested most.
2: Build a trusted bridge to requested coin.
3: Shield amount for that coin surpasses $1M, indicating demand.
4: Prioritize trustless bridge for that coin.
Essentially, we want to make sure we’re building things you want. This is just a temporary process. Soon enough every cryptocurrency will have a trustless bridge to Incognito, thanks to developments like the blockchain-agnostic Portal.
Until then, shield your crypto with existing bridges to protect your privacy and let us know that there’s demand. And, share your thoughts on which coins you want to see next!