Project Incognito provides robust privacy to DeFi transactions

The stand-alone blockchain project aims to bring privacy & interoperability to Ethereuem decentralized finance platforms

There have been some innovative solutions lately to address the so-called trilemma of Cryptos — privacy, scalability & interoperability. The most recent one that I talked about is Rootstock (RSK), an open-source smart contract solution that provides an interoperability bridge between Bitcoin and Ethereum blockchains.

Decentralized finance has seen a rapid rise in popularity over the past year or so. Although different blockchain platforms offer varying forms of privacy, the novel project Incognito intends to anonymize the tokens of every other blockchain. As part of this endeavor, Incognito plans to launch private versions of leading Ethereum decentralized finance (DeFi) platforms.

It promises robust features as the ones offered by privacy-centric coins like Monero — employing techniques like ring signatures, stealth addresses & confidential transactions. In fact, the project goes one step beyond by offering interoperability with other blockchains and supports private tokens. Basically the project team envisions a universal sidechain for public blockchains, where the latter can benefit from…