Incognito is a privacy-focused cryptonetwork that offers a unique solution to address the lack of privacy in existing cryptocurrencies. While blockchains have introduced a new asset class of cryptoassets, transactions on these networks are recorded on public ledgers, compromising user privacy. Incognito's mission is to provide privacy for any cryptocurrency, allowing users to maintain confidentiality while using their favorite digital assets.
Unlike other privacy-focused cryptocurrencies like Monero, Zcash, Grin, and Beam,
Incognito doesn't create a new cryptocurrency. Instead, it allows users to "shield" their existing cryptocurrencies like BTC, ETH, and USDT, effectively turning any crypto asset into a privacy coin. The shielding process is carried out through a decentralized group of trustless custodians, making transactions confidential and untraceable. This approach ensures that users don't have to choose between their preferred cryptocurrencies and privacy coins – they can have both.
