December 20, 2019 – Today, Matic and Incognito announce their collaboration to deliver essential functionality for Ethereum – the blockchain that powers a huge majority of all existing use-cases for the technology.
Through the use of decentralized sidechains, Matic brings speed and Incognito brings privacy. Both already running on their respective mainnets, these projects demonstrate a shared commitment to increasing real-world viability for blockchain-powered apps and currencies.
“We’re excited to implement privacy for MATIC”, said Duy Huynh, founder of Incognito. “The fastest layer of the decentralized web now has its own incognito mode.”
As of today, this is what Incognito mode for MATIC looks like:
1. MATIC users are able to send, receive and store their coins with 100% confidentiality. MATIC holders simply need to deposit their coins to the Incognito Wallet to receive privacy MATIC (pMATIC), a 1:1 privacy coin powered by zero-knowledge proofs.
The Incognito team is happy to give the community their first pMATIC for free. [Click here to join the giveaway].
2. Incognito has also listed MATIC on the pDEX – the first completely anonymous decentralized exchange. The team has supplied liquidity for the first MATIC pair.
Now, anyone can experience truly private trading, contribute liquidity to MATIC pairs and earn trading fees, or create a completely new trading pair of their own.
Matic provides a secure network based on the Plasma framework, which seeks to solve the issue of scalability via the use of sidechains, while remaining committed to the principles of decentralization. Matic has a strong focus on dApps, centered around enhancing the user experience and designed to bring them up to the standard of today’s centralized apps.
Incognito is an open-source project devoted to tackling the crypto world’s privacy problem. It is a decentralized platform for privacy tokens, powered by its own proof-of-stake sidechain that can attach to other blockchains to confidentially transfer crypto assets. Built on this sidechain, the Incognito pDEX is a truly anonymous decentralized exchange. Blockchain agnostic and powered by zero-knowledge proofs, it delivers a privacy-first, mobile-optimized, cross-chain trading experience.
Incognito utilizes zero-knowledge proofs optimized for mobile and achieves near-instant transaction speeds through state sharding.