There is one problem with blockchain networks: all the user’s data is public, and Secret has a solution to it.
Secret (COIN: $SCRT) is a sophisticated layer-1 decentralized blockchain network, which is built on Cosmos SDK / Tendermint. It is the first project that gives decentralized apps (dApps) the privilege to manipulate private data on Secret and maintain privacy publicly and privately.
Moreover, this project also fills the gap in the privacy protection of Web3, providing coherent privacy solutions. There are enchanting tools and resources for developers on the Secret platform.
What Makes Secret Blockchain Standout?
This project’s primary focus is programmable privacy, which allows smart contracts and other dApps to leverage encrypted output, input, and state, which gives them granular control over their data. It also protects them from anonymous acts performed by different communities and hackers surreptitiously.
Secret has quick-witted compliance tools, wallets, and yield optimizers; such as CryptoClerk, Fina Card, Leap, and more to enhance your experience on the platform.
You can also get yourself enrolled in Secret University to learn how to develop your customizable private dApps on the platform.
Privacy as a Service (PaaS)
Secret offers another feature called “Privacy as a Service,” or we can call it PaaS. It provides privacy computation beyond the boundaries of its own networks. It is enabled by the Inter Blockchain Network (IBC) and Axelar General Message Passing (GMP). This allows developers to take advantage of different blockchain features, getting the “best of both worlds.”
Smart contracts are produced by the use of a network of computers known as security nodes on Secret. These nodes are the infrastructure of the whole Secret Network, which uses asymmetric encryption before passing out the data to the blockchain as transactions.
Furthermore, users can also experience advanced Secret NFTs metadata, which is available to them with non-private NFTs. With Secret NFTs, the creators can enable view-only versions. It allows them to put watermarks or thumbnails on their owned NFTs, protecting them from hackers. In addition, the users can show their collection to potential buyers while keeping their NFT wallet secret.
Why is Secret a Unique Choice?
One of the key features of Secret Network is its focus on privacy. It achieves this by allowing developers to create and deploy “secret contracts” that operate on encrypted data. Unlike many other blockchain networks, Secret keeps data confidential, preventing any node, including validators, from accessing sensitive information processed by smart contracts. This privacy protection is achieved through a technology called Trusted Execution Environment (TEE).
The Secret TEE protocol and vital management outgrow other blockchains, such as Ethereum, that found difficulties in accommodating users’ privacy and data.
DeFi apps built with secret privacy-preserving smart contracts, come with MEV resistance, making them invulnerable to anonymous attacks by hackers.
Secret’s Coin: $SCRT
$SCRT is the project’s native cryptocurrency, which is used for clearing gas fees, participating in on-chain governance, staking towards network security, and transaction fees. Alternatively, $SCRT coins can be used to purchase and sell NFTs, allowing you to participate in DeFi, and maintain your financial privacy.
When developers transfer bridged tokens such as Ethereum, Monero, and BNB Smart Chain onto Secret’s blockchain, you’ll get immediate privacy for those tokens.
[Click The $SCRT Chart Above To View On CoinMarketCap]
Tokenomics
$SCRT is currently trading at $0.323, which represents a 96.7% discount from its ATH of around $10.
The token’s circulating supply is 211M with a total supply of as much as 259.7M. The project still holds an impressive market cap at $68.5M. Daily trading volume are consistently reaching over $1M.
Secret’s growth continues to skyrocket on social media with over 189.3K followers on Twitter / X alone.
Final Thoughts
Secret has become a pioneer among other blockchain networks. The project is working on providing splendid tools and features for developers and users to encrypt their public and private data. The $SCRT token is an excellent choice for a long-term investment, as it provides users with real-time privacy technologies.
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