Announcing Privacy Coin Awards, a competition for custom cryptocurrencies created on the Incognito blockchain. To join, just download the Incognito Wallet and tap “Issue a Privacy Coin.” Create your own cryptocurrency in 15 seconds, set up a customer loyalty program, trade IOUs, and more.
Users who have created coins with the most transactions and followers will win awards. There will also be a community vote for the most innovative, charismatic coin.
The competition has officially begun. Winners will be announced in February 2020.
What is a Privacy Coin?
All coins issued on the Incognito blockchain are privacy coins. These special coins provide their users with true anonymity — balances and transaction histories are encrypted using zero-knowledge proofs for 100% privacy.
With most cryptocurrencies, balances and transaction data are public, meaning anyone can see how many coins you’re holding, where you got them from, and what you do with them. On Incognito, you can trade Privacy Coins — as well as cryptocurrencies like Bitcoin and Ethereum — completely anonymously.
How can I use Privacy Coins?
Have a business? Issue rewards for your customers that can be traded privately. Or create vouchers that can be airdropped to customers’ wallets and redeemed in-store for special offers.
Know people? Create IOUs to share with your friends, family or colleagues. Maybe issue custom tokens to vote anonymously on controversial topics (and see what people really think).
You could of course just issue your own cryptocurrency and convince buyers and sellers to adopt your coin. There are hundreds of use-cases we haven’t listed here — or thought of yet.
What do you think is the killer use-case for privacy coins? Which real-world (or virtual-world) application do you think will win?
How do I win awards?
Privacy Coin Awards was created to increase transactions on the Incognito network and to promote creativity and innovation in the use of privacy coins. There are two categories of awards (and 2 ways to win):
Highest Privacy Coin Score:
Privacy Coin Score = (Number of Transactions * 0.7) + (Number of Followers * 0.3)
1st place: $375 in PRV (based on the pDEX rate at the time of transfer).
2nd place: $250 in PRV.
3rd place: $125 in PRV.
Winners will be selected on January 31, 2020, at 11.59 PM. A leaderboard showing the top ten Privacy Coins and their score will be available on the website soon.
Most Innovative Privacy Coin:
After the competition has closed, the founding team will compile a shortlist of candidates (including the top 10 Privacy Coin Scorers).
The community will vote for the most innovative, and the winner will receive $250 (USD-equivalent).
We can’t wait to see what you guys come up with. Privacy Coin Awards is open to the world — anyone can play.
Start tokenizing your life…
Download the Incognito Wallet today!
If you have any questions or if you just want to bounce ideas, join the conversation!