Secret Network
Name
Secret Network
Summary
Secret (SCRT) is a privacy-oriented blockchain built on Cosmos.
Secret Network was founded by Tor Bair in 2020 as a part of Secret Foundation, an organization dedicated to building, researching, and scaling open-source, privacy-first technologies.
Built by leveraging proof-of-stake (PoS)using Tendermint’s Byzantine fault-tolerant consensus algorithms.
Rating
Symbol
SCRT
Overview
The Secret Network is a decentralized network of computers (which we call “secret nodes”) that use hardware-based and software-based privacy technologies to enable secure computation.
On top of this network, developers can build Secret Apps - unstoppable, permissionless applications that can utilize encrypted data without ever exposing the data itself, even to the nodes in the network performing computations.
Secret can be used to advance privacy as a human right and a public good; to empower individuals through development and use of decentralized technologies; and to protect freedom and create more valuable systems by eliminating data monopolies.
Historical Price Movement (in INR)
Technology
The native token of Secret Network is “SCRT”. Computations are performed by each node on the network for verifiability, security, and consensus purposes. Due to being a layer one solution, Secret Network is chain-agnostic and capable of interoperability with a range of networks using the Cosmos InterBlockchain Communication protocol (IBC).
Data privacy is guaranteed by combining encryption protocols and key management within a Trusted Execution Environment (TEE). This allows Secret Contracts to compete for several privacy-related use cases that traditional blockchains have found difficult to accommodate. For instance, private voting mechanisms or credit scoring applications become possible since they do not expose sensitive user data on-chain with Secret.
The functionality of the smart contracts is based on CosmWasm, the smart contracting platform of the Cosmos ecosystem.
Use of Native tokens in the ecosystem:
SCRT can be used for staking, voting, and paying network transaction fees. It is also necessary to operate a node in the network, with the validators receiving rewards and a share of the transaction fees from token swaps.
Investors
46.3%
Founders & Project
41.4%
Premined Rewards & Airdrops
12.3%
Volume ( as of 9th May 2022)
$16,989,981
Total Supply
190,165,060 SCRT
Circulating Supply
168,968,064 SCRT
Crowd Sales
NA
Funding
04-03-2019-Venture - NA
02-02-2022-Venture fund- $400M
Country
United States
Name of Organisation
ENIGMA MPC, INC
Year Incorporated
2018
Registered Address
186 MUSEUM WAY, SAN FRANCISCO, 94114, CA
Dispute Resolution and Governing Law
United States
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Tor Bair | Founder | MIT Sloan School of ManagementMaster of Business Administration (MBA) | 13 yrs |
| Guy Zyskind | Co-Founder | Massachusetts Institute of TechnologyMaster of Science (M.S.), Media Lab | 15 yrs |
