Secret (SCRT) is the native coin of the Secret Network, a decentralized blockchain focused on computational privacy rather than solely transactional privacy. Built within the Cosmos ecosystem, the network operates as a layer-1 smart contract platform whose nodes, called secret nodes, are able to perform generalizable computations on encrypted data. This capability allows developers to deploy "secret contracts," a form of smart contract capable of processing private and sensitive information without exposing it on-chain. The network's privacy-preserving design supports the creation of decentralized applications, commonly referred to as Secret Apps, across a range of fields including decentralized finance, access control, Web3 services, and machine learning, where the use of confidential data is otherwise difficult to achieve on public blockchains. Development and governance of the ecosystem involve multiple independent groups, with the Secret Foundation, Enigma, and other community entities contributing to network growth and tooling. By enabling encrypted computation as a core feature, the Secret Network positions itself as infrastructure for privacy-focused decentralized applications within the broader interoperable Cosmos landscape.
Encrypted balances hid the shortfall for a week — the real cost is the absent monitoring layer and a $770K recovery window Axelar has declined to act on.
Secret is the native coin of the Secret Network, a decentralized network for private / secure computation.
Secret (SCRT) is categorised as: Artificial Intelligence (AI), Infrastructure, Smart Contract Platform.
The official Secret site is https://scrt.network.
Most recent Secret coverage: "Secret Network's Axelar bridge drained for $4.67M in exploit" — read at /en-US/a/secret-networks-axelar-bridge-drained-for-467m-in-exploit.
TheBlock
