Incognito, a company specialized in providing privacy solutions, announced its cooperation with the Zilliqa project, a blockchain platform, with the aim of enabling anonymity for transactions made using the “ZIL” token.

The partnership resulted in access to “pZIL” tokens, a special 1:1 version of the “ZIL” token, and instant liquidity for “pZIL” that will be listed on the decentralized platform Incognito pDEX.

stated Mr. Doi Huynh, CEO and Founder of Incognito:

Besides the benefits that blockchain is often described as a transparent and immutable ledger, the reality we are forced to face as a mass industry is that full exposure does not always apply in every case.

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As projects look to provide solutions that cater to traditional audiences and industries, privacy is ultimately essential.

We are excited to support Zilliqa as they continue to transform the payments ecosystem, providing their own ZIL token and the ability to operate in stealth mode.

Privacy Bridge:

The “Incognito-Zilliqa” bridge will allow ZIL holders to transact anonymously, allowing complete privacy for their tokens.

Users simply need to submit their ZIL to the Incognito Wallet to receive pZIL which is a 1:1 confidentiality version of ZIL.

pZIL can be stored, sent, received and traded in complete privacy as transactions are blocked from any public blockchain.

To turn off these privacy features and withdraw pZIL, users simply need to send pZIL to their preferred ZIL wallet.

With this integration, ZIL token holders will now benefit from completely confidential transfers secured by cryptographic algorithms such as zero-knowledge proofs that allow privacy protection between the two parties.

Mr. Amrit Kumar, Head and Chief Scientific Officer of Project Zilliqa stated:

This collaboration with Incognito comes at a logical time in our growth as we explore privacy tools in order to enhance the usability of Zilliqa in the real world.

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As emerging markets continue to digitalize their financial infrastructures, we remain committed to offering affordable and accessible alternatives while keeping in mind the needs of the future-oriented digital economy.

Zilliqa project and pDEX platform:

To allow for instant liquidity, pZIL will be listed on pDEX, a decentralized platform.

In addition to Incognito’s native token, traders will be able to enjoy complete privacy and control over their information while using the platform, protecting them from a wide range of issues spanning from identity theft and fraud.

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The pDEX platform allows users to list their preferred currency and trading pairs in order to contribute to liquidity and earn trading fees on all activities that take place on the platform.

So far the pDEX platform supports a variety of pairs including:

Tether, Ethereum, Bitcoin, USDC, BNB, and MakerDAO’s DAI.

Known throughout the crypto industry as the first blockchain platform to take advantage of sharding as a scaling solution, Zilliqa has focused on financial inclusion.

In June 2019, Zilliqa partnered with Southeast Asian financial payments specialist Xfers to provide blockchain-based payments to more than 500,000 enterprise customers in the region.

Read also:

Zilliqa Project Adds Smart Contract Service to the Blockchain

Find out the deadline for the process of exchanging Zilliqa coin and its symbol ZIL to the mainnet