In the Wallet Mode, users interact with the protocol by minting, burning, and transferring encoins with the help of their CIP-30 compatible hot wallet. Currently, the dapp supports Nami and Eternl.
This mode makes your ADA holdings private. On various blockchain explorers, your wallet will look like it has some encoins in it, but the amount of ADA they are worth cannot be deciphered.
The ENCOINS Ledger is the on-chain script that acts as your stealth account. Sending coins to another user is as simple as sharing the minting keys off-chain. To receive a coin, import the minting key and re-mint the coin to gain full control of it.