Electrodes and BCN connector

Hello!
I am working on a project for university, and for this I am using the Gravity pH sensor. I am looking at the connection diagram of the PCB, and I don't understand how it works. Supposedly, you need to measure the voltage difference between the two electrodes, but only one signal and the shielding go to the circuit through the BNC connector. So how does it work?
Does the reference electrode connect to the shielding of the BNC?
In a pH probe with a BNC connector, you typically have:
Center pin: Connected to the measuring electrode (signal).
Outer shield: Connected to the reference electrode (and internally tied to system ground in the signal conditioning circuit).
This is why only one "signal" wire and one ground (shield) wire are needed — you're measuring the voltage between the measuring electrode (center) and the reference electrode (shield).

By the way, the schematic is here: https://www.zimmerpeacocktech.com/2018/09/14/ph-with-arduino/
