Altcoin project Secret (SCRT), which focuses entirely on privacy, is among the top 100 cryptocurrencies by market value. The coin has increased 120% in the last seven days and has qualified to enter a new league. Cryptocoin. com, we have compiled the details for you, let’s examine the subject together…
Altcoin project Secret (SCRT) has skyrocketed and entered the top 100!
According to the latest data, the cryptocurrency called Secret (SCRT) has risen 120% in the past seven days, jumping from $4.46 to $9.7. SCRT’s rapid rise has far outstripped Bitcoin (BTC) and Ethereum (ETH), which rose around 1% and 11%, respectively, in the same timeframe. The altcoin has a market cap of $1.18 billion at the time of writing, with a market rank of 92.
Formerly known as “Enigma,” Secret originally aimed to bring privacy features to smart contract platforms like Ethereum. The mission of the platform has since changed, and Secret is now a delegated proof-of-stake blockchain designed to support a new ecosystem of decentralized applications (DApps) that protect users’ privacy.
Secret states that there are 13 decentralized applications running on the network
The platform uses the Cosmos SDK and Tendermint consensus protocol, and users can unlock the local government token SCRT to help secure the network and earn rewards. Secret says that there are 13 decentralized applications running on the network to date. Secret has the following comment on the subject:
Incognito Apps are made from powerful, privacy-preserving smart contracts (i.e. secret contracts). Leveraging the computing privacy of Trusted Execution Environments (TEEs) and confidential contracts, users have privacy by default when interacting with Hidden Applications, unlocking the full value of decentralized applications.
Secret switched from Enigma (ENG) to SCRT late last year, making cryptocurrency exchange Binance the first major exchange to support the new crypto asset.