Original | Odaily Planet Daily ( @OdailyChina )
Author | Asher ( @Asher_0210 )
This Friday, Inco, a Web3 protocol that promotes solutions to blockchain confidentiality issues, announced the completion of a $5 million strategic round of financing, led by a16z crypto CSX, with participation from Coinbase Ventures, 1kx, Orange DAO, South Park Commons and Script Capital.
Inco is currently in the initial construction stage, and the existing user experience feedback mainly comes from the test network environment and a small number of early dapps. However, judging from the evaluation of existing developers and test users, Incos performance in privacy protection has already shown its edge, the infrastructure is stable, and the privacy experience has also received positive feedback.
Next, Odaily Planet Daily will take you to an in-depth understanding of the Inco project, and teach you step by step to participate in the test network interaction of the three key projects under the current Inco ecosystem.
Inco Project Introduction: Web3 Confidentiality Protocol
Inco is an EVM-compatible Layer 1 solution that uses fully homomorphic encryption (FHE) technology to achieve a composable and operable privacy state. Through fhEVM (FHE + EVM), it is possible to write privacy smart contracts and perform calculations on encrypted data. This innovation opens the door to many use cases, such as card games, decentralized identity (DID), private voting, dark pools, etc., paving the way for a new era of possibilities. Its technical end has the following major features:
The storage of encrypted state on the chain is realized, which means that all encrypted data can be directly and securely stored on the blockchain, ensuring the integrity and privacy of the data;
Supports state transition based on encrypted data. This function is completely performed on the chain, which greatly enhances the traceability and credibility of the data.
It provides on-chain random number generation services, adding more uncertainty and security to smart contracts and dApps.
Regarding financing, in addition to completing a $5 million strategic round of financing yesterday, as early as February last year, Inco announced the completion of a $4.5 million financing round, led by 1kx, with participation from Circle Ventures, GSR, Polygon Ventures, Robot Ventures, Alliance DAO, zkSync developer Matter Labs, and others.
Remi, founder of Inco, said, Inco is not only a modular Layer 1 that integrates Fully Homomorphic Encryption (FHE) and EVM, but also a universal privacy layer for Web3. Privacy is important to blockchain. In addition to the basic need of the public for privacy, many institutions cannot build on existing blockchains because they need to properly handle sensitive data. In addition, some specific types of applications such as games also have a rigid demand for privacy. With Incos privacy services, developers will be able to explore more potential use cases around games, DeFi, commercial activities and more.
Interactive Tutorial
Regarding the interactive operation, it is mainly about participating in the project experience supported by Inco. Currently, there are three projects worth interacting with.
STEP 1. Go to the test coin website (link: https://www.alchemy.com/faucets/base-sepolia ), select the Base Sepolia test network, complete the human-machine authentication, and enter the address to receive the test coin ETH (you need to have 0.001 ETH in your wallet on the Base main network to receive it).
STEP 2. After entering the Hangman project interactive website (link: https://hangman.inco.org/ ), click Connect Wallet to Play to connect the wallet and start the word guessing game (select letters to form the correct word, and each wallet selection requires 2 confirmations).
STEP 3. After entering the Comfy project interactive website (link: https://comfy.inco.org/ ), click Connect Wallet and select Mint now to mint USDC.
STEP 4. Select “Shield” to convert part of USDC to cUSDC, and then click “Unshield” to convert part of cUSDC to USDC.
STEP 5. Send cUSD to other addresses (can also be sent to personal interaction addresses).
STEP 6. After entering the Melee project interactive website (link: https://www.melee.game/consensus ), click Connect Wallet to switch the network to the Monad test network and vote for the following 8 crypto experts (at least 0.5 MON test coins).
