a16z lead investment, privacy public chain Inco nanny-level interactive tutorial

Reprinted from panewslab

04/27/2025·19D

Original | Odaily Planet Daily

Author |Asher

On Friday, Inco, the Web3 protocol that promotes the resolution of blockchain confidentiality issues, announced the completion of a US$5 million strategic round of financing, led by a16z crypto CSX, and participated by 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 evaluations of existing developers and test users, Inco's performance in privacy protection has begun to show its strength, with a stable infrastructure and a positive feedback on the privacy experience.

Next, Odaily Planet Daily will take you to gain an in-depth understanding of the Inco project and teach you step by step to participate in the test network interaction of three key projects under the current Inco ecosystem.

Inco Project Introduction: Web3 Confidentiality Agreement

Inco is an EVM-compatible Layer 1 solution that utilizes Fully Homomorphic Encryption (FHE) technology to achieve composable and actionable privacy state. With fhEVM (FHE + EVM), it is possible to write privacy smart contracts and perform calculations on encrypted data. This innovation has opened the door to many use cases, such as card games, decentralized authentication (DID), private voting, dark pools, and more, paving the way for possibilities in the new era. Its technical side has the following major characteristics:

The storage of on-chain encrypted state 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;
It supports state transitions based on encrypted data. This function is completely on the chain, greatly enhancing the traceability and credibility of data;
On-chain random number generation service is provided, adding more uncertainty and security to smart contracts and dApps.

Regarding financing, in addition to completing a US$5 million strategic round of financing yesterday, as early as February last year, Inco announced that it had completed a US$4.5 million financing, led by 1kx, and participated in the investment by Circle Ventures, GSR, Polygon Ventures, Robot Ventures, Alliance DAO, and zkSync developer Matter Labs.

Remi, founder of Inco, said, “Inco is not only a modular Layer1 that combines “full homomorphic encryption” (FHE) and EVM, but also serves as a common privacy layer for Web3. The importance of privacy for blockchain is that in addition to the basic public needs for privacy, many organizations are unable to build on existing blockchains due to the need to properly handle sensitive data. In addition, some specific types of applications such as games also have urgent needs for privacy. With Inco’s privacy services, developers will be able to explore more potential use cases around games, DeFi, business activities and more.”

Interactive tutorial

Regarding interaction, it is mainly about participating in the project experience supported by Inco. Currently, there are three projects worth interacting with.

STEP 1. Enter the test coin collection website (link: https://www.alchemy.com/faucets/base-sepolia ), select the "Base Sepolia" test network, enter the address to collect the test coin ETH after completing the human-computer authentication (you need a wallet to have 0.001 ETH on the Base main network to collect).