While the broader crypto market remains uncertain, a project leading the way in the world of Web 3.0 blockchain privacy is kicking off the new year by posting significant gains.
Secret Networkis a blockchain designed specifically for data privacy. The platform supports encrypted entries, exits, and smart contract states, enabling programmable smart contracts that protect user data. While Monero and Zcash are privacy-centric evolutions of Bitcoin, Secret Network’s smart contracts are evolutions of Ethereum’s own smart contracts, providing secure transfer of private data while building on this premise.
A privacy-focused smart contract platform Secret (SCRT), As Web 3.0 expands into the mainstream, it features a permissionless and privacy-preserving network that aims to unlock new perspectives on a new use case.
To this end, the project will include a series of initiatives aimed at expanding its ecosystem. shockwaveannounced the release of .
According to the announcement, Shockwave will prioritize new funding and incubation opportunities, improvements in developer tools and support, scaling, and increasing the availability of the project’s native token, SCRT.
Secret had an impressive start to 2022 and challenged the market. The altcoin, which was worth $5.26 in the new year, rose to $8.99 with a 71 percent gain at the time of writing. SCRT has increased nearly 40 percent in just the last four days.
Secret also offers privacy and cross-chain features. front runningIt also runs Secret Swap, its own decentralized finance (DeFi) protocol that protects against SEFI (Secret Finance) is currently worth $0.06.
The alias Guy of popular YouTube channel Coin Bureau also mentioned Secret’s new Shockwave initiative in his weekly review. The popular analyst informed his 1.88 million subscribers as follows:
“[Secret]plans to involve hundreds of projects and tens of thousands of users on its privacy-protecting blockchain.
Shockwave’s latest game is to turn Secret Network into cryptocurrency’s privacy protection center; this was made possible thanks to Secret’s ability to use IBC, Cosmos’ inter-blockchain communication protocol.
SCRT seems to be approaching a $10 price resistance zone where there has been a lot of profit in the past.”
SCRT also performed impressively in October, rallying from $2 to an all-time high of $10.38.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.