SCRT Price Today
The live Secret Network price today is $0.35399498 with a 24-hour trading volume of $2,920,040.49. Secret Network is -1.35% in the last 24 hours.The current MyToken ranking is #--,with a live market cap of $71,939,043.26. It has a circulating supply of 203,220,431 SCRT and a max supply of 203,220,431 SCRT.
What Is Secret Network?
The Secret Network project was named Enigma in the early days, and it first hoped to rely on the Ethereum ecosystem for development. Later, after encountering a performance bottleneck, the technical route was adjusted, and an independent public chain that supports privacy computing was developed through the Cosmos SDK. This public chain is now the Secret Network. Of course, as a member of the Cosmos ecosystem, Secret Network can also seamlessly integrate the IBC cross-chain protocol, and can easily interact with other public chains in the Cosmos ecosystem. Secret Network's native token SCRT is mainly used for Gas, PoS pledge, governance and other purposes.
By default, data on the blockchain is public. This is a problem for applications that use sensitive information. The Secret Network aims to solve this problem by enabling in-use data privacy by decentralizing private computation for applications. It enables decentralized applications to perform cryptographic computations. Rust code that enables applications to use private data is known as a "secret contract" on the Secret Network. Secret contracts are similar to smart contracts, such as those used with Ethereum. The key difference is that secret contracts can accept encrypted inputs and generate encrypted outputs without exposing any data when used. Additionally, the contract state (its internal, persistent database) remains encrypted throughout execution.
As a blockchain secret contract that supports encrypted input, encrypted output, and encrypted state, Secret Network allows developers to build new types of powerful decentralized applications. This can unlock significant value across multiple verticals and industries, including: decentralized finance, data sharing, machine learning, healthcare, gaming, and more. To enable meaningful use cases and achieve global adoption, users and organizations need to control how their data is used and shared - a concept known as "programmable privacy".
One of the core development teams behind Secret is SCRT Labs, a software development company from the famous Massachusetts Institute of Technology (MIT), formerly known as Enigma. Secret Network, as the first privacy public chain on the subdivision track to launch the main network, has a first-mover advantage; the $400 million ecological development fund plans to support the development of the ecology on the Secret Network chain; use encrypted smart contracts to prevent miners from running ahead; The chain is developed based on the Cosmos technical architecture, connected to the IBC protocol, and opens up the relationship with each Zone of the Cosmos ecology. The development of the Cosmos ecology can empower it.
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