Secret Price Chart Update [SCRT]

Secret Network is a blockchain network constructed with the Cosmos SDK, with a primary focus on ensuring data privacy for smart contract development. In its default state, Secret Network guarantees the protection of user data and upholds privacy, enabling developers to build decentralized applications that prioritize data privacy. Within this network, users can implement "programmable privacy," which allows for the integration of intricate data privacy controls within applications. These privacy-preserving applications are referred to as Secret Apps, and Secret Network firmly believes that providing users and organizations with granular control over their data is essential for the widespread adoption of blockchain technology.

Genesis of the Mainnet Secret Network's mainnet was launched on Feb. 13, 2020, under the name Enigma. Initially established in 2017, Enigma aimed to provide a private computation solution for Ethereum. Coinciding with the network's launch, Enigma settled with the U.S. SEC regarding its $45 million ICO in 2017. In May 2020, the project rebranded itself as Secret Network. Enigma MPC, the company behind the original Enigma protocol, now operates as one of several development groups contributing to the advancement of Secret Network's technology.

Secret Network, unlike Enigma's initial vision, is a Proof-of-Stake (PoS) protocol built using the Cosmos SDK and Tendermint consensus engine. It operates with its native token SCRT. During its launch, the network received support from over 20 validators. Another significant milestone in the Secret Network ecosystem was the establishment of the Secret Foundation in early June. This organization is dedicated to fostering the growth and acceptance of the Secret Network ecosystem, advocating for privacy as a public good, and equipping users with the necessary tools, technologies, education, and support to safeguard their privacy.

In Jun. 20, 2020, the Secret Games Incentivized Testnet was conducted, lasting nearly two months and engaging over 100 participants. This event provided developers with an opportunity to stress test the chain in a live adversarial environment. The testnet played a crucial role in preparing for the "Vulcan" hard fork upgrade, which introduced smart contracts, known as Secret Contracts, to the mainnet.

ENG Token Swap & Wallet Support On Jun. 24, 2020, the burn contract for SCRT was initiated, enabling owners of ERC-20 token ENG to convert their cryptocurrency to SCRT. As of now, approximately 62 million SCRT have been sent from the burn contract. On Sep. 29, 2020, Binance facilitated the swap of over 35 million SCRT, becoming the first major exchange to list SCRT for trading. SCRT holders gained the ability to participate in governance, stake their tokens, and execute secret contracts.

Secret Network and SCRT tokens are supported by the Keplr and MathWallet wallets. SCRT holders voted in favor of funding the team responsible for developing the Keplr wallet through Secret Network's governance proposal #19. The objective was to create a MetaMask UX equivalent for the Secret Network, offering support for Secret Contracts and applications.

Revolutionizing with Secret Contracts & Applications On Sep. 15, 2020, the Secret Network successfully underwent a hard fork, upgrading the protocol from "secret-1" to "secret-2". This upgrade ushered in the era of Secret Contracts, which are smart contracts designed with privacy as a core element. By Dec. 4, 2021, the Secret Network had achieved a milestone of fifty active validators. Subsequently, on Dec. 15, 2021, the Secret Ethereum Bridge was launched, marking the initiation of a series of bridges to other ecosystems. The bridge enables users to wrap Ethereum and other ERC-20 tokens to their Secret Network equivalents, operating under the SNIP-20 standard. To promote liquidity and adoption, over two million SCRT were offered as bridge mining rewards.

On Mar. 31, 2021, SecretSwap, the first significant application-layer DeFi application on Secret Network, was introduced. It revolutionizes cross-chain Automated Market Making (AMM) protocols with a privacy-first approach. Secret Swap leverages secret contracts to offer features like prevention of front-running and transaction privacy.

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