You’ll note that the shielding flow in the app has been updated for better UX and security.
In this topic, I’d like to explain the historical shielding process for ETH/ERC20 tokens: what the original design and drawbacks were, the new improvements, and what we’re ultimately working towards. Additionally, we believe that an exploit was carried out last week that took advantage of a user who had a timed out shield request under the original design. This post will provide contextual information ab…
As recently announced, Incognito app users can now withdrawal PRV off the Incognito chain and onto the Ethereum network (ERC20) or Binance Smart Chain (BSC). If you missed the announcement and want to learn how it works check out this link:
Let’s learn how to Shield and Un-Shield PRV to/from the Incognito network.
Step 1 -
From the app home screen: tap on Assets > Shield my crypto > Search for Privacy (PRV) (see figure 1 - Privacy (PRV) asset selection).
Hi everyone, Portal comes back.
As mentioned in
the previous post, we are building the Incognito’s trustless non-custodial bridge v4 (portal v4), and it’s available on the Testnet environment. We are planning to deploy it on Mainnet in a few days. Portal v4 will replace the centralized bridge for Bitcoin (BTC). In other words, after Portal v4 release, users can shield/unshield Bitcoin through the trustless non-custodial bridge instead of the current centralized bridge. We summarize the improve…
As you know, we finished the design and implementation of Incognito’s trustless bridge for public tokens (BTC and BNB) that allow users to shield public tokens decentralized, aka Portal v2 (with Incognito vault) and Portal v3 (with Ethereum smart contract vault). See detail:
[Shipped] Incognito's trustless bridge V3 with Ethereum bond contract
However, there are some problems with our current design.
First, the logic of the shielding and unshielding processes is quite complicated. S…