Secret (SCRT) — price, overview & secure storage

What is Secret and who created it?

Secret is the native coin of the Secret Network, a decentralized platform designed to provide privacy and security in computational processes. Unlike traditional blockchain networks that focus solely on transactional privacy, Secret Network emphasizes computational privacy, allowing smart contracts to handle private and sensitive data securely. This unique feature enables developers to create decentralized applications, known as Secret Apps, that preserve user privacy.

Key features of Secret blockchain

The Secret Network is built to support a wide range of applications that require privacy, including decentralized finance (DeFi), Web3, machine learning, and access control. The network's privacy functionality is crucial for these fields, as it allows for secure and private data handling. Secret nodes, which are the network's nodes, perform computations over encrypted data, ensuring that sensitive information remains confidential.

How Secret transactions work

Secret Network operates through secret nodes that execute generalizable computations on encrypted data. This process allows smart contracts, referred to as secret contracts, to utilize private data as inputs without exposing it. The network is supported by various independent development teams and entities, such as Enigma, Secret Foundation, Secretnodes.org, and Chain of Secrets, which contribute to its growth and development.