FanFest

A truly fun experience!

USDB Partners with Privacy Coin Powerhouse, Incognito

Published on May 12th, 2022 | Updated on May 12th, 2022 | By FanFest

USDB partners with privacy coin powerhouse Incognito

Privacy has never been more important in crypto, so USDB is partnering with Incognito to create a privacy-protecting equivalent of USDB in the form of pUSDB.

To add to the exciting string of developments USDB and the Balance ecosystem have recently made, including an exciting foray into the world of e-Commerce, new USDB staking options, an NFT marketplace and HUGE near-future plans to ride the NFT craze, USDB now has world-class privacy functionality for those who need it!

Today we’re going to breakdown what Incognito is, the details of the partnership with the Balance ecosystem and why privacy is so important in the world of cryptocurrency.

Finance 2.0 

Cryptocurrency has changed the world of finance forever. For the first time in human history, you can send, receive and store digital currency securely, without going through a financial institution. While this is financial independence and freedom like the world has never seen before, for those who value privacy, cryptocurrencies come with a big tradeoff.

Through the use of blockchain technology, crypto transactions are all recorded on public ledgers, displaying amounts involved and inscribing virtual identities of their senders and receivers. Although your identity may just be a wallet address, this ledger of transactions is public, which means a real lack of privacy.

Thankfully, Incognito provides a much-needed solution. But before we break down how Incognito addresses the current lack of privacy, let’s look at a few reasons why you might not want every transaction you make to be public.

Danger from threats– the blockchain is public and transparent, meaning every transaction that has been made can be easily viewed. If you have a sizable amount of crypto on a certain address, it’s easy to see why you wouldn’t want people and potentially hackers to have access to your balances and transactions.

General privacy and censorship – part of the appeal of cryptocurrencies is greater independence and autonomy from governments and banks. If all your transactions and balances are public, this opens up the possibility of being censored or having your funds frozen – not exactly the financial utopia crypto envisions!

Better negotiations – if you are in a negotiation with a company or client, you don’t necessarily want them (or your competitors) to know exactly how much money you have.

Incognito – Privacy at its best 

Incognito is an innovative solution to the privacy issue faced by most cryptocurrencies, making privacy ubiquitous, inclusive, and accessible for businesses and everyday users. At Incognito, they believe very few people would willingly disclose their crypto financials to the entire world, and we would have to agree – which is why USDB are partnering with them to make sure that USDB can cater to the more privacy-minded among us.

How does it work?

While there are many privacy-focused coins out there, Incognito takes a different approach, based on the premise that people don’t want a new cryptocurrency with privacy. What they really want is privacy for their existing cryptocurrencies: incognito mode for any cryptocurrency.

Incognito is designed so users don’t have to choose between their favorite cryptocurrencies and privacy coins. They can have both. They can hold any cryptocurrency and still be able to use it confidentially whenever they want.

Incognito’s Privacy Coins (pCoins) are 1:1 privacy-protecting equivalents of cryptocurrencies like BTC (pBTC), ETH (pETH), BNB (pBNB), and now USDB (pUSDB). They do not appear on public block explorers and are completely confidential.

11 major blockchains currently use Incognito bridges to interact privately, and to date, they have anonymized and swapped over $500M in currencies like BTC, ETH, BNB, and now USDB is joining the party!

USDB 

The Balance ecosystem will be pairing 50 000 USDB with Incognito’s token on their privacy exchange, ensuring there is liquidity and a market for pUSDB.

Enjoy the best yields and unbeatable privacy with the world’s latest and greatest stablecoin. USDB. Watch this space. 

 

Leave a Reply

Your email address will not be published.

SEEN ON

as seen on promo graphic

SEEN ON

as seen on promo graphic