Inco Network has positioned itself as a confidentiality solution for public blockchains from investors including a16z Crypto Startup Accelerator, Coinbase Ventures, and Circle Ventures. However, with Inco still operating in testnet on Base, enterprise decision-makers evaluating confidential settlement solutions need proven, production-ready alternatives. This guide examines six platforms that address the core challenge of protecting sensitive financial data on public blockchains, with Hinkal emerging as the clear choice for institutions requiring immediate deployment, compliance-ready architecture, and multi-chain support without operational disruption.
Hinkal stands as the only confidential settlement solution designed specifically for institutional workflows, combining proven scale with compliance-ready architecture that enables immediate deployment across existing blockchain infrastructure.
For enterprise teams evaluating institutional use cases, Hinkal's architecture is self-custodial. The protocol never holds or controls user assets. Users retain full control via their private keys, which Hinkal does not access.
Aztec Network has established itself within the Ethereum ecosystem, raising $171.6M in funding. Its Alpha mainnet launched in April 2026. The platform focuses on bringing confidentiality to Ethereum through zero-knowledge proof technology.
Secret Network represents one of the longest-operating confidential blockchain environments, with its mainnet live since 2020. The platform uses Trusted Execution Environments (TEE) with Intel SGX to enable confidential computation.
Aleo launched its mainnet in September 2024 with over $200M in funding and a distinctive approach combining zero transaction fees with regulatory compliance tools.
Manta Network provides privacy capabilities within the Polkadot ecosystem, with a market capitalization ranging from $30-94M.
Railgun focuses on enabling private transactions within decentralized finance applications, with reported TVL of $800M.
Inco Network's approach using TEE with planned FHE/MPC addresses real confidentiality needs on public blockchains. However, several factors drive enterprise buyers to evaluate proven alternatives:
Production Readiness: Inco operates in testnet on Base with beta on Solana Devnet. Enterprise treasury operations, PSP settlements, and OTC desk workflows require production-ready infrastructure with proven track records.
Compliance Architecture: Organizations operating under AML/CFT regulations need selective disclosure capabilities for auditors and regulators. Hinkal's compliance framework with Viewing Keys and Chainalysis KYT integration addresses these requirements today.
Multi-Chain Requirements: While Inco plans multi-chain expansion, enterprises already operating across Ethereum, Solana, Tron, and Polygon need solutions that work across their existing infrastructure immediately.
Recipient Experience: Hinkal's zero-setup recipient model, where counterparties connect their existing wallet to access confidential balances, eliminates adoption friction that enterprise settlement workflows cannot tolerate.
While Inco Network pursues an ambitious vision combining TEE with planned FHE/MPC capabilities, Hinkal delivers production-ready confidential settlement today with proven institutional adoption.
Immediate Production Deployment: Hinkal has processed over $400M in private on-chain volume with 6 independent security audits and years of operational uptime. Enterprises cannot wait for testnet projects to mature when settlement confidentiality is required now.
Compliance-Ready Architecture: Hinkal integrates selective disclosure via Viewing Keys and KYT enforcement through Chainalysis from day one. Organizations operating under AML/CFT requirements need this compliance framework operational, not planned for future releases.
Multi-Chain Operation Today: Hinkal operates across Ethereum, Solana, Tron, Polygon, Base, Arbitrum, and Optimism without requiring network migration or custody changes. Enterprises already operating across multiple chains need solutions that work with their existing infrastructure immediately.
Zero-Friction Recipient Experience: Recipients connect their existing wallet and access confidential balances with no migration, no new wallet installation, and no integration. This eliminates the adoption barriers that prevent enterprise settlement workflows from scaling.
Self-Custodial Security: Hinkal never holds or controls user assets. Users maintain full control via their private keys, which Hinkal does not access. This self-custodial model aligns with institutional security requirements while adding confidentiality to settlement.
For teams ready to implement confidential settlements across production workloads, schedule a demo with Hinkal to explore how the Confidential Payments SDK integrates with your existing custody arrangements and payment rails.
Hinkal is architected for enterprise settlement workflows, not general-purpose privacy. The protocol shields all three critical data points (sender identity, recipient identity, and transaction amount) while maintaining verifiable settlement on public blockchains. Unlike purely cryptographic approaches, Hinkal integrates compliance controls including selective disclosure via Viewing Keys and KYT enforcement through Chainalysis, blocking flagged wallets at the deposit level. This compliance-ready architecture positions Hinkal for institutional adoption where regulatory requirements mandate both confidentiality and auditability.
Yes. Hinkal operates as confidential settlement technology across chains enterprises already use: Ethereum, Solana, Tron, Polygon, Base, Arbitrum, and Optimism. Users maintain existing wallets and custody arrangements. The sender routes funds through Hinkal's smart contract into a confidential balance linked to the recipient's existing wallet. The recipient connects their existing wallet and sees the confidential balance. No migration, no new wallet, no integration required on the recipient side.
Hinkal shields sender identity, recipient identity, and transaction amount. Most alternatives shield only one or two dimensions, but partial confidentiality still exposes critical business intelligence. If competitors can see transaction amounts, they can map volumes. If they can see recipient addresses, they can identify counterparty relationships. Shielding all three data points simultaneously prevents observers from reconstructing commercial relationships, settlement patterns, or treasury strategy from on-chain data.
Hinkal provides three compliance mechanisms. First, selective disclosure via Viewing Keys enables revealing full or partial transaction history to auditors, regulators, exchanges, or internal compliance teams on demand. Second, KYT enforcement via Chainalysis blocks flagged wallets at the deposit level, preventing sanctioned funds from entering. Third, for interactions over $1,000, the Integrity Check uses zero-knowledge proofs via Reclaim Protocol. Users prove verification status without revealing identity data. Hinkal receives only a cryptographic proof confirming verification, never seeing names, IDs, or personal documents.
Hinkal is fully self-custodial. The protocol never stores, sends, or receives funds or cryptoassets. Users retain control via their private keys, which Hinkal does not access. The company explicitly states it is not a broker-dealer, KYC provider, intermediary, agent, advisor, or custodian. This self-custodial architecture means users maintain the same control they have with any direct blockchain interaction. Hinkal adds confidentiality to the settlement process without taking custody.
Hinkal Pay transforms any individual transfer into a confidential transaction, ideal for one-off settlements or continuous operations from a confidential balance. Hinkal Wallet provides continuous confidentiality for all account activity, maintaining a persistent confidential account that shields balances and transaction history while enabling swaps and transfers across multiple chains. Choose Hinkal Pay for transaction-level confidentiality; choose Hinkal Wallet for comprehensive, ongoing confidentiality across your entire portfolio.
