1 00:00:14,230 --> 00:00:19,191 [HOST] Welcome to X1 Report, your source for the latest in blockchain technology. Today, we're 2 00:00:19,191 --> 00:00:24,208 diving into the world of X1 Privacy, a new feature that allows users to send and receive 3 00:00:24,208 --> 00:00:26,774 tokens with hidden amounts on the X1 network. 4 00:00:27,024 --> 00:00:33,186 [ANALYST] X1 Privacy is designed to provide confidentiality for two specific tokens: XNT and USDC.x. 5 00:00:33,186 --> 00:00:39,074 By wrapping these tokens into their confidential versions, users can send transactions 6 00:00:39,074 --> 00:00:45,236 where the amounts are encrypted on-chain, ensuring that only the sender and recipient know 7 00:00:45,236 --> 00:00:47,632 the exact amount being transferred. 8 00:00:47,882 --> 00:00:52,917 [HOST] The feature went live on October 2, 2026, on the X1 mainnet. It's a simple process: users 9 00:00:52,917 --> 00:00:57,783 can wrap their tokens into confidential versions, send them privately, and then unwrap 10 00:00:57,783 --> 00:01:00,725 them back to their original form whenever they want. 11 00:01:00,975 --> 00:01:06,228 [ANALYST] The app itself is straightforward, with just three actions: creating an account, wrapping 12 00:01:06,228 --> 00:01:11,423 tokens, and sending or unwrapping them. The process uses zero-knowledge proofs to ensure 13 00:01:11,423 --> 00:01:15,673 the transaction's integrity without revealing any sensitive information. 14 00:01:15,923 --> 00:01:21,371 [HOST] One of the key features of X1 Privacy is that it doesn't require any new cryptography. 15 00:01:21,371 --> 00:01:26,376 Instead, it leverages existing mechanisms on the X1 network, such as Token-2022 16 00:01:26,376 --> 00:01:30,430 confidential balances and a native zero-knowledge proof program. 17 00:01:30,680 --> 00:01:36,259 [ANALYST] The whitepaper clearly states that X1 Privacy hides amounts but not who is paying whom. An 18 00:01:36,259 --> 00:01:41,776 observer can see that A paid B, but they cannot determine the exact amount or what either 19 00:01:41,776 --> 00:01:42,520 party holds. 20 00:01:42,770 --> 00:01:47,841 [HOST] To ensure full backing, X1 Privacy maintains a reserve for each token. We checked the 21 00:01:47,841 --> 00:01:53,031 reserves on October 15, 2026, and found that the supply matches the reserve to the last 22 00:01:53,031 --> 00:01:55,954 unit, providing strong assurance of full backing. 23 00:01:56,204 --> 00:02:01,591 [ANALYST] Usage is still small, with only 12 wallets and about 21 XNT wrapped two weeks after 24 00:02:01,591 --> 00:02:07,432 launch. However, the project publishes its own statistics page, which shows that wraps and 25 00:02:07,432 --> 00:02:11,521 unwraps are public by design, but the amounts remain encrypted. 26 00:02:11,771 --> 00:02:16,444 [HOST] The main trust point is the upgrade key, which controls adding new tokens, lowering supply 27 00:02:16,444 --> 00:02:21,065 caps, and upgrading the program. The team acknowledges this as a potential risk and plans 28 00:02:21,065 --> 00:02:23,142 to move to shared control in the future. 29 00:02:23,392 --> 00:02:28,582 [ANALYST] Security-wise, the code has undergone internal and independent reviews, with no issues 30 00:02:28,582 --> 00:02:33,953 found that could allow third parties to take funds. However, users must be cautious about 31 00:02:33,953 --> 00:02:38,539 losing their wallet keys, as they are essential for decrypting and spending. 32 00:02:38,789 --> 00:02:43,687 [HOST] For developers, X1 Privacy provides a comprehensive integration guide, making it easy to 33 00:02:43,687 --> 00:02:48,474 build on top of the platform without needing to ask anyone for permission or approval. 34 00:02:48,724 --> 00:02:53,998 [ANALYST] Looking ahead, the roadmap includes more tokens with verifiable reserves, confidential 35 00:02:53,998 --> 00:02:59,517 swaps, further audits, and native wallet integration. The team is committed to making this 36 00:02:59,517 --> 00:03:02,889 a default part of using X1 rather than a separate site. 37 00:03:03,139 --> 00:03:08,266 [HOST] In summary, X1 Privacy offers a clear, narrow promise: hiding amounts and balances without 38 00:03:08,266 --> 00:03:13,392 requiring new cryptography or a custodian. It's fully backed and provides a free exit with 39 00:03:13,392 --> 00:03:15,214 no freeze or pause instructions. 40 00:03:15,464 --> 00:03:20,433 [ANALYST] While the usage is still small, the project names both its limits and its metadata 41 00:03:20,433 --> 00:03:25,827 publicly, making it an honest and transparent solution for privacy-conscious users on the 42 00:03:25,827 --> 00:03:26,493 X1 network. 43 00:03:26,744 --> 00:03:32,299 [HOST] If you're interested in trying out X1 Privacy, you can visit x1privacy.xyz. Remember, this 44 00:03:32,299 --> 00:03:37,731 is a review of an untrusted source material, and we advise exercising caution when using 45 00:03:37,731 --> 00:03:38,903 any new technology. 46 00:03:39,154 --> 00:03:44,263 [ANALYST] That's all for today. Thank you for tuning into X1 Report. Stay tuned for more updates on 47 00:03:44,263 --> 00:03:45,468 the blockchain world.