Secret Price (SCRT)

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$0.3976-7.84%1D
Binance
SCRT
USD
1 SCRT =$0.3976Last updated:
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About Secret (SCRT)

Secret Network is the first layer 1, privacy-enabled blockchain, featuring "secret" smart contracts with encrypted inputs/outputs/state. This innovative blockchain allows applications built on Secret to utilize encrypted data without revealing it to anyone, even the nodes in the network. For the first time, developers can create powerful, permissionless, privacy-preserving applications known as Secret Apps.

To address the issue of public blockchains exposing all data used in smart contracts, Secret Network provides a solution for privacy, enhancing security and scalability for the decentralized web. Built on Tendermint SDK and using Delegated Proof of Stake consensus, Secret Network's native coin, SCRT, is utilized for transactional/computational fees, staking, and on-chain governance. Additionally, Secret Tokens can be issued on the network, offering programmable features like ERC-20s but with privacy by design similar to Monero.

Secret Network's data privacy technologies enable the development of various decentralized applications across fields such as decentralized finance, access control, NFTs, gaming, data sharing, and more. With interoperability through Secret Bridges like the Secret Ethereum Bridge, this blockchain ecosystem opens up new possibilities for privacy-focused dApps. For those seeking control over their data in blockchain applications, Secret Network provides a groundbreaking solution with its privacy-preserving smart contracts.

How does Secret work?

Secret (SCRT) is a privacy-focused cryptocurrency that operates on a decentralized network, allowing for peer-to-peer transactions without the need for intermediaries. Built on the Cosmos blockchain, Secret utilizes privacy-preserving technologies such as secure enclaves to protect sensitive data and transactions. Its consensus mechanism, known as "Secret Network," relies on a network of validators to secure the network and validate transactions. One of its unique features is the ability to create and execute smart contracts with encrypted inputs, ensuring data privacy. Secret can be used for various applications such as decentralized finance (DeFi), secure messaging, and data sharing, offering a secure and private alternative to traditional financial systems. Its diverse functionalities and potential applications across industries make it a promising solution for those seeking privacy and security in their transactions.

How to keep your Secret (SCRT) safe?

To keep your Secret (SCRT) safe, consider using hardware wallets such as Ledger for enhanced security measures. These wallets store your private keys offline, making it harder for hackers to access your funds. Additionally, trusted platforms like Kraken and Binance offer advanced security features such as two-factor authentication and encryption to protect your assets. Be sure to enable these security measures and regularly update your passwords to keep your SCRT safe from potential threats.

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