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pUniswap incognito feature - Private Decentralize Exchange
Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no financial advisor, trader or expert, this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, never follow what I or other people say on internet
pUniswap incognito feature - Private Decentralize Exchange
On 2020 Decentralize Exchanges became popular, they already exited since 2018 although nobody didn't really use them, some where just too ugly or difficult or buggy so everybody kept using centralize exchanges like Bitrex or Binance just to mention two of the most famous, I still use this centralize with always the risk of loosing everything one day because of a hack and not only that, the moment you enter a centralize exchange you start loosing, you loose your privacy.
I have written about privacy for the past week and I think this is going to become a topic I'm going to keep exploring the main reason is I'm not an expert on the subject and don't pretend to become one but I would really like to know way more about it, people talk about inflation, decentralization and many other terms that affect crypto but don't really know deep down what they referring to, so I have decided to look more into privacy.
Been Uniswap at the moment the most popular Decentralize Exchange many people use it on a daily basis to a point that it already has way more volume than Binance, there are a ton of coins listed that are not on Binance, some of them very promising some others not so much and a bunch of rug pulls but to be honest that's just how crypto has been for a long time and I don't its going to change anytime soon, with the rug pulls and the massive gains comes this I would call it "safe heaven feature" that you trade directly from your wallet so nobody else than you hold your coins, your coins are not just a number on a database anymore, on a DEX (Decentralize Exchange) you actually hold your coins it's a direct "SWAP" you exchange with other people directly but nothing its perfect since there is not an order book" although some front ends are starting to pop for UNISWAP there is slippage, to make this part of the post short, there is no free lunch in crypto, nothing is easy. Besides all this UNISWAP probably holds the record for the biggest AIRDROP in the history of crypto giving away $1,200 to each wallet that interact with the DEX before the release of their UNI tokens
UNISWAP is not only an exchange its an actual protocol and they have recently added a key feature and its a privacy feature, INCOGNITO.
INCOGNITO as describe on their site https://incognito.org
"Incognito is a global community of privacy-minded builders seeking to protect the world from surveillance and control."
"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."
This project started on 2018, as mention with decentralization comes 100% transparency, every computer running a node, miner or system that support the blockchain can run a full copy of an open ledger and if your wallet is identify then all your transactions can be track down, is this bad? not it's not but as I mention on a earlier post
"how would you feel if someone prints out your entire financial history with your name on it and start to give it out to everyone on the streets?"
Thats a bit extreme but it's just what happens with an open ledger system open on the internet, at some point you will be ok for others to know part of your transactions although not your entire worth network to every single penny, in crypto you may be ok with people knowing your trades but probably not your long-term holds or not even your trades because then it can be track down, my point is that INCOGNITO gives you the option to decide if you want others to know this information.
INCOGNITO is not a coin, its a system that allow you to deposit your coins on a wallet using a shield transaction, meaning that its private and can't be traced down, this are temporary wallets that becomes unavailable after a certain amount of time.
UNISWAP knowing that their users love it, they love the DeFi tokens on UNISWAP and many of this user also value their privacy and you should start evaluating this because now days privacy has become an asset. INCOGNITO will not only help with its privacy but also with lower fees for small trades and for large trades the system will select UNISWAP as its default, this new integration of INCOGNITO is known as pUNISWAP that uses INCOGNITO shield smart contract to interact between both protocols with INCOGNITO acting as proxy in between UNISWAP and the trader, allowing for a p2p swap without interacting with the Ethereum blockchain.
I'm a pro Crypto user but for me the future is not so clear, with institutions coming heavily into Bitcoin it's just a matter of time that they go into DeFi start doing dumb sht and regulations go heavy into crypto, Its my believe that at some point privacy wont be a choice but it will become a necessity same as breathing oxygen, they already want to know everything you are doing, what you buy, sell or hold, solutions like pUNISWAP is one of the first step.
Here links to tutorials on how to use INCOGNITO app with pUNISWAP
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