Secret network or SCRT (SCRT/USDT – Trade it here) is a blockchain protocol that allows encrypted smart contract and preserves data privacy at the same time. This enables decentralized applications (dApps) to carry out encrypted computations. With encrypted smart contracts, users have more control over how their personal information is shared when that information is encrypted. This article will help you have a better understanding on how to buy SCRT token, its tokenomics and features of Secret network.
Core Features of Secret Network
Secret Contracts protect data while converting encrypted inputs into encrypted outputs. The contract states that are encrypted during execution enable this advantage. Let’s explore more:
- Trusted Execution Environment (TEE). This is a combination of encryption protocols and key management that ensure data privacy. With TEE, Secret network is able to compete with traditional blockchains where privacy is a concern.
- Secret Node. It serves as validators that creates the Secret network’s infrastructure with asymmetric encryption before adding transactional data on the blockchain. It is worth mentioning that the encrypted data can only be accessed or decrypted on TEE by the receiver.
- Programmable privacy. A network of nodes on the platform safely execute the computation of smart contracts created using the Secret. These nodes put into practice the data privacy protections that let programmers create dApps that safeguard user data.
How many SCRT tokens are out there?
The total supply of SCRT is 170 million, please see below for token distribution in the network:
- 75 million in community
- 30 million for treasury
- 36 million for the team
- 1 million for the foundation
- 8 million for inflationary purpose
How to buy SCRT tokens?
You can buy SCRT token on MEXC following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “SCRT” using the search bar to see the available trading pairs. Take SCRT/USDT as an instance.
- Scroll down and go to the [Spot] box. Enter the amount of tokens you would like to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy SCRT] to confirm your order. You will find the purchased tokens in your Spot Wallet.
Recent Token Price & Performance
Secret token reached the highest price (ATH) of 10.7150 USDT on October 27th, 2021. On the other hand, the lowest price since the date of ATH was 0.8640 USDT on June 17th, 2022.
History of Secret Network
The mining of Secret’s genesis block enabled the network to go live in February 2020. Many elements of the protocol were from the MIT Decentralizing Privacy paper from 2015. The Secret Network is made up of numerous development teams and collaboration. Guy Zyskind created the business. SCRT Labs are the primary developer. Last but not least, it’s interesting to note that SCRT Labs originally went by the name Enigma before changing its name to better reflect the project’s overall goals.
Interested in crypto like Secret Network?
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