Secret (SCRT) - a native coin of the network, called Secret Network, which is positioned by the developers as a decentralized network for private and secure computing. Nodes on the network (known as Secret Nodes) can perform generic computations on encrypted data, which allows smart contracts (known as Secret Contracts) to use private and confidential data as input.
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What is Secret (SCRT)?
Secret Network is based on Cosmos SDK and Tendermint consensus. In fact, the Secret Network is a test network of the second level of the ancient Enigma (ENG) project. Secret - the native coin of the Secret Network, a blockchain with data privacy for smart contracts by default, allowing the creation and use of applications that do not have permission and maintain privacy. This feature protects users, secures applications and unlocks hundreds of unprecedented Web3 use cases.
Main functions of the platform
To use applications on Secret, you need to save and spend SCRT. Just like ETH works on Ethereum, SCRT helps to pay for all computing and transaction fees, associated with applications on the network.
Project features:
| Breakdown | By “putting” SCRT on the validators that support the secret network, “secret nodes,” you help to the SCRT network and rewards. |
| Control | All members can participate in the governance of the Secret Network, helping to determine the future direction of the network and the community. |
Secret Network is committed to providing a level of privacy and security while maintaining what people love about blockchain technology. This is a concept that could be key to driving the future of certain decentralized applications (dapps), especially in the field of decentralized finance (DeFi). Secret - a first-level blockchain with its own consensus and chain of command, built on the Cosmos / Tendermint platform. It relies on a network of distributed nodes that compute smart contracts, created on a secret network, but the nodes use a Trusted Execution Environment (TEE) - like a black box - to do this away from prying eyes.
This is similar to how a smartphone's processor uses TEE to process sensitive data like fingerprints, but it's a block chain node. The network advertises its smart contracts as "secret contracts" because they help to keep stored data private.
Where to buy a project token?
You can purchase SCRT on these centralized exchanges, operated by traditional companies:
- Biinance;
- Mandala Exchange;
- Huobi Global;
- Gate.io;
- Pionex.
You can buy mainnet SCRT from DEX on Secret Network or a linked version of Secret from DEX on Ethereum.