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(Answered) Who owns the keys?

#1

So far I’m enjoying learning about IncognitoChain and all the projects on it. A quick noob question: who owns the keys to individuals’ wallets and the native/p-assets in them? Incognito wallet is non-custodial, including the p-assets in users’ wallets, no? This would mean users have total control over their funds–how to use and when to withdraw or invest, no?

Sorry for the simple questions–but thanks for any answers! I’d like to play a more supportive role in the community. Terrified at how quickly governments around the world are legislating away personal freedoms. Privacy is at the core of citizens’ ability to withstand the onslaught.

#2

Hello @KNZ,

Regarding wallets, private keys, master seed phrases, etc. Every user has access to their keys and funds. Incognito team has no access to user wallets or private keys. That is why it is extremely important to keep a backup at all times.

Regarding the bridges, since :bitcoin: Bitcoin does not natively support smart contracts it is currently still centralized. Other coins that support smart contracts operate with a decentralized bridge.

This article is older but seems to be a good overall: https://we.incognito.org/t/the-state-of-decentralization/10883?u=jared

This is regarding the Incognito network: Progressive Decentralization: The community now runs 66% of the network

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#3

Thanks for taking the time to help out those of us new to IC!

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#4

BTC bridge is also trustless anymore (Detail: [Shipped] Incognito’s trustless non-custodial Bitcoin bridge). @KNZ

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