Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other...

32
Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX as of March 4, 2020 40 core dev members Started in May 2018. Launched in Nov 2019. 1.4M lines of code 41,000 commits on Github Self-funded No ICO. No VC funding. At a glance

Transcript of Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other...

Page 1: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Incognito mode for crypto.

$1.2M shieldedBTC, ETH, USDT, and 70+ other tokens

1,046 validatorsPowering the Incognito network

$0.49 (+490%)PRV price on PDEX as of March 4, 2020

40 core dev membersStarted in May 2018. Launched in Nov 2019.

1.4M lines of code41,000 commits on Github

Self-fundedNo ICO. No VC funding.

At a glance

Page 2: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Crypto is eating the world.

Why now

Page 3: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

But crypto is public.

Alice sent 1.5 BTC to Bob

Problem

Page 4: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Incognito mode for crypto.

Alice sent 1.5 BTC to Bob

Solution

Page 5: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Privacy coins are gaining traction.

$200B Market cap of public coins

$2BMarket cap of privacy coins (XMR, ZEC, etc.)

Market Validation

Page 6: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

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.

Page 7: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Incognito secures privacy for every coin.

$200BTotal Addressable Market

$2B Market cap of privacy coins (XMR, ZEC, etc.)

Market Size

Page 8: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Incognito Network—A universal privacy hub that enables incognito mode for any blockchain.

Product

Page 9: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Incognito Wallet—A privacy-first alternative for all your essential crypto activities: buying, selling, holding, investing, lending, and borrowing.

Product

Page 10: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Incognito Node—A plug & play full node that powers privacy and earns crypto.

Product

Page 11: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

$0.0M

$350.0M

$700.0M

$1,050.0M

$1,400.0M

Oct Nov Dec Jan Feb

Volume—$1.2M worth of crypto in 74 different currencies has gone incognito since the mainnet launch in Nov 2019.

$1.2M volume 74 cryptocurrencies

15% 3% 60%

Progress

13%

Page 12: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

$0.0M

$300.0M

$600.0M

$900.0M

$1,200.0M

Oct Nov Dec Jan Feb

Nodes—By design, Incognito is powered by a large group of small validators around the world.

1,046 nodes

Progress

Page 13: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

0

25

50

75

100

Monero Zcash Grin Beam IncognitoIncognito (8 shards)

Performance—Incognito delivers privacy at scale with 100 TPS — a significantly higher number than that of other privacy blockchains.

Progress

Page 14: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Partnerships—Key strategic partnerships for mass adoption.

Progress

Trade Incognito with BinanceBinance funds development of incognito mode for Binance Chain, so any Binance user can trade BNB and BEP2 tokens anonymously.

Pay Incognito with AutonomousAutonomous lets buyers purchase its products completely anonymously with untraceable versions of USDT, USDC, BUSD, and DAI.

Page 15: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Not a single privacy coin. Privacy for every coin.

Privacy

No privacy

Platform of coins

Single coins

Positioning

Page 16: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

First-mover competitive advantages

1st privacy platform BTC, ETH and 70+ tokens already on board

1st privacy sharding10x TPS of other privacy blockchains

1st privacy proof-of-stakeMore efficient than PoW privacy blockchains

1st plug & play gadgetA large group of small validators

Positioning

Page 17: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

A diverse group of 40+ scientists, cryptographers, programmers, entrepreneurs, and operators.

Duy, Project Lead• Founded Autonomous and led it from 0 to

$100M in sales in 4 years• PhD student in Computer Science, University

of Maryland at age 19• ACM ICPC World Finalist

Ning, Community Lead• Head of Growth at Constant, the fastest-

growing crypto lending platform in South East Asia

• Masters in Literature, University of Oxford• Masters in Philosophy, University of Edinburgh

Andrey, Ecosystem Lead• Founder of Vincash, a privacy coin blockchain• Masters in Physics, Odessa National

University, Ukraine • Coordinated a cyber-identity startup with the

former General Secretary of Interpol

Thuc, Cryptography Lead• Professor of Applied Cryptography, National

University of Vietnam• Founded the Department of Applied

Cryptography and Computer Security

Core Dev Team

Page 18: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Dung, Research Lead• Professor of Distributed Systems, National

University of Vietnam• PhD in Computer Science, University of

Texas

Bao, Technical Lead• Engineering Manager, Viettel, Vietnam’s

largest mobile network operator• Built network infrastructure for 110M

subscribers in emerging markets

Dung Van, Consensus Lead• Masters in Computer Science, Korea

Advanced Institute of Science and Technology (KAIST)

• Led a high-frequency crypto trading team• Designed the FPGA system for neural nets

Hieu, Cryptographer• PhD Candidate, Applied Cryptography,

Singapore Management University• Topic: Privacy-Preserving and Verifiable

Computation for Outsourced Data

On a mission to make privacy ubiquitous.

Core Dev Team

Page 19: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

PowerUsers stake PRV to become validators and power the network.

UseUsers can pay transaction fees in PRV when they send crypto confidentially.

The native cryptocurrency of the Incognito network.

PRV

Page 20: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Token Economics—The total supply of 100M PRV is designed to favor those who work for the network, not to pre-sell coins to speculators.

$0.49 (+490%)Price on pDEX as of March 4, 2020

7.9M circulating supply2.9M mined in the first few months by validators, plus the aforementioned 5M.

5M pre-minedPurchased by the core team for $1M, which has been used to self-fund the project.

Self-fundedNo ICO. No VC funding.

95M block rewardsBeing mined over 40 years. The total block reward for the first year is 8.7M PRV. Block rewards are reduced by 9% every year.

PRV

Page 21: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

$0.0M

$750.0M

$1,500.0M

$2,250.0M

$3,000.0M

Oct Nov Dec Jan Feb

Community commitment—75% of 2.9M PRV mined is staked, demonstrating the community’s long-term commitment. 10% goes to the DAO Fund, devoted to funding long-term community projects. Very little speculative activity.

PRV75% 2.19M staked

10% 0.29M DAO fund

15% 0.42M floating

Page 23: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Thank you.

Page 24: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Appendix

Quick linksEthereum BridgePrivacy Tech StackScalability Tech StackPerformanceIncognito DAOCode

Page 26: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Nodes

A plug & play device

Shielded ETH via the Ethereum Trustless BridgeSource: Etherscan on 2/28/2020

Page 27: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Shielded ERC20s via the Ethereum Trustless BridgeSource: Etherscan on 2/28/2020

Page 28: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Confidential TransactionsShielding transacted amounts

Stealth AddressesShielding receiving addresses

Ring SignaturesShielding sending addresses

Homomorphic Commitment

Zero-Knowledge Range Proofs

Privacy Stack—Now we can send, receive, buy, sell, invest and borrow cryptocurrencies confidentially.

Page 29: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

pBFT

Sharding

Proof of Stake

BLS Signatures

Scalability Stack—Incognito is the first network that delivers privacy at scale by implementing proof-of-stake and sharding.

Page 30: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Performance—Currently, with 8 shards active, Incognito can handle 100 TPS. With a full deployment of 64 shards, Incognito can handle 800 TPS — a significantly higher number than that of other privacy blockchains, which usually top out at less than 10 TPS.

Page 31: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

IncognitoDAO—Designed to fund protocol development and network growth, Incognito DAO collects a gradually reducing percentage of block rewards.

gradually reduces to

90%

10%

97%

3%

Page 32: Incognito Feb 2020 · Incognito mode for crypto. $1.2M shielded BTC, ETH, USDT, and 70+ other tokens 1,046 validators Powering the Incognito network $0.49 (+490%) PRV price on PDEX

Code Structure—Incognito has 27 public repositories on Github with 41,000 commits and 1.4M lines of code since May 2018.