USDB Partnership with Incognito
USDB Partnership with Incognito – creating a privacy-protecting of USDB in the form of pUSDB.
Incognito is a revolutionary solution to the privacy issue faced by most cryptocurrencies, making such as privacy ubiquitous, inclusive, and accessible for businesses and everyday users. At Incognito, in fact they believe very few people would willingly disclose their crypto financials to the entire world. And now the USDB partnership with Incognito will make sure that USDB can cater to the more privacy-minded.
The new financial world
Cryptocurrency has ushered in a new era of finance. For the first time in human history, you can send, receive and store digital currency securely, without going through a financial institution. This is financial independence and freedom, 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, additionally 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.
Reasons why your transactions not to be public
- Danger from criminals — the blockchain is public and transparent, furthermore every transaction that has been made can be easily viewed.
- General privacy and censorship — part of the appeal of cryptocurrencies is greater independence and autonomy from governments and banks.
- 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.
How does it work?
In conclusion, 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.
Help add liquidity to Incognito
First you will have to shield your USDB, which you can learn how to do here.
Secondly, learn how to add liquidity to an Incognito pool here.
About Incognito
Incognito is designed where you can have favorite cryptocurrencies and privacy coins. Moreover, users can hold any cryptocurrency. In addition, users can still be able to use it confidentially whenever they want.
About USDB
USDB is a decentralised stablecoin backed by FHM. To sum up, it uses a method known as proof of burn to cement its value at $1. At a specific point in time and value. In conclusion, a decentralised reserve asset and an arbitrage mechanism that anyone can participate in.
SOURCE
https://medium.com/fantohm/usdb-gets-a-privacy-upgrade-incognito-partnership-b2ee09e1f4b0
