Last Friday, it was announced that the NEO Project has partnered with Incognito.

Project Neo, which is an open source blockchain platform, recently announced its collaboration with Incognito.

The partnership’s goal is to create privacy-improving features for the NEO community, according to a post on Incognito’s official blog.

Thanks to this partnership, it will provide Neo’s two million+ users with much-needed day-to-day privacy with untraceability.

The partnership will be a “trusted privacy bridge” that will enable users to hide their balances, quantities, time times, recipients of transactions…etc.

Privacy is the future:

With the increasing adoption and awareness of blockchain technology, privacy and its realization have become a prominent issue.

Read:Ripple announces $250 million NFT fund to support innovators

As governments and regulators are doing their best to eliminate the privacy feature of crypto and blockchain completely.

Speaking about the partnership with NEO, Dai Henh, Project Manager, Incognito, noted:

We and our partners alike know that the greatest danger facing our world is the alarming lack of privacy, and we are excited to tackle it together.

While Mr. Da Hongfei, founder of the NEO project, said about the new partnership:

Privacy and user security are critical to the next generation internet

[…] I am confident that this partnership will open up new and exciting possibilities for everyone

Working with Incognito will provide the foundation for the next generation of internet and the smart economy of the future.

How Incognito works:

According for the white paper At Incognito, the company has created a segmentation-powered POW network, a beacon that oversees massive numbers of cortex organization chains and networks.

When combining, it produces parallel blocks, the platform uses the pBFT protocol to form a consensus on the new blocks.

This makes Project Incognito offer high privacy with anonymity, using a data layer that contains zero-knowledge clues, ring signatures, confidential transactions…

Read:Why should you stay in the crypto and cryptocurrency market in 2019?

The Incognito project also uses CryptoNote and Bulletproofs features that provide Do Not Track feature and require no prior setup.

However, a read-only key can provide audit access when necessary.

Anyone with the key will be able to view the balances.

This option will enable the possibility of regulatory compliance and will also be submitted to the relevant authorities for tax and regulatory purposes.

Read also:

Learn about the details of the NEO partnership and the TomoChain project

NEO Founder: We Aim to Be Different from Bitcoin and Ethereum