Axelar and Secret Network have a new strategic alliance, according to the announcement on Twitter. Through this integration, Secret Network will be able to link to Axelar’s interoperability system, opening up new channels for communication with other blockchains beyond IBC.
What is Secret Network?
The very first blockchain with adjustable privacy is Secret Network. You get to decide what, who, and how you share. This safeguards consumers and gives developers the ability to create a better Web 3. Secret Network was created as a standalone, base-layer blockchain network using the Cosmos SDK. Developers may create decentralized applications that also safeguard user data and uphold privacy thanks to its support for smart contract creation and the introduction of data security by the standard for these contracts.
What does Secret Network mainly focus on?
Smart contracts are pieces of self-executing software that are handled on a blockchain. Most blockchain systems that endorse smart contracts, like Ethereum, are open to the public by default. This means that all of the information that is used in their consensus mechanism is available to the general public. Secret Network enhances traditional smart contracts by allowing for encoded inputs, encrypted outputs, and a secured state for smart contracts – data privacy for sensitive data stored on the blockchain.
From DeFi to NFTs and beyond, privacy is critical to the safety and adoption of Web3. Secret Network introduces new and distinct privacy functionality to the market and will serve as the foundation for the next era of popular Web3 applications.
When was Secret Network launched?
The mainnet of the Secret Network went live on February 13, 2020. It began as Enigma, a 2017 project to carry a second-layer private computation alternative to Ethereum. The Enigma team confirmed the network’s release on the same day it announced its settlement with the US Securities and Exchange Commission over Enigma’s $45 million ICO in 2017. In May 2020, the project was renamed Secret Network.
How do I get Secret Network’s SCRT token?
If you want to buy the SCRT token, the best exchanges are Binance, MEX-C global, and Osmosis DEX if you are already holding crypto in your digital wallet.
