{"id":9662,"date":"2023-05-23T06:55:53","date_gmt":"2023-05-23T06:55:53","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=9662"},"modified":"2022-05-16T18:52:35","modified_gmt":"2022-05-16T18:52:35","slug":"what-is-secret-network","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network","title":{"rendered":"What is Secret Network?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#a_bit_of_history\" >A bit of history<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#sec_issues_and_rebranding\" >SEC issues and rebranding<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#so_what_is_secret_network\" >So, what is Secret Network?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#secret_network_and_its_particular_operation\" >Secret Network and its particular operation<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#scrt_the_native_currency\" >SCRT, the native currency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#scrt_stakes\" >SCRT Stakes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#secret_contracts\" >Secret Contracts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#private_tokens\" >Private Tokens<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#secret_bridges\" >Secret Bridges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#secret_foundation_and_governance\" >Secret Foundation and Governance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#the_future_of_secret\" >The future of Secret<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-secret-network\/#conclusion_on_secret\" >Conclusion on Secret<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 7<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>When choosing a blockchain, with a DeFi ecosystem, to start interacting, \u201ccrypto-users\u201d generally\u00a0<strong>analyze transaction fees<\/strong>, network\u00a0<strong>speed, available applications and their connections.<\/strong><\/p>\n<p>Until now, no one has been able to choose a blockchain like Secret Network, which allows interaction with decentralized finance and meets the requirement of offering total privacy on the movements made on it.<\/p>\n<p>But in this irrepressible ecosystem everything comes. Today I have the pleasure to answer the question \u201cWhat is Secret Network? And bring you the necessary information to have a first contact with this\u00a0<strong>blockchain that offers a DeFi ecosystem with completely private transactions.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"a_bit_of_history\"><\/span><strong>A bit of history<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As usual in my articles, let\u2019s first go to the context, to understand how Secret Network became what it is today.<\/p>\n<p>It was\u00a0<strong>2015<\/strong>\u00a0when Guy Zyskind and Can Kisagun\u00a0<strong>noticed that the Ethereum network lacked an attribute<\/strong>\u00a0they considered extremely necessary and that was, of course,\u00a0<strong>privacy<\/strong>.<strong><br \/>\n<\/strong><br \/>\nThey started working on a project that they envisioned at the time as an\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-third-generation-blockchain\/\">L2 or second-layer solution<\/a>\u00a0for the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-eth-and-how-does-it-work\/\">Ethereum<\/a>\u00a0network, which they called\u00a0<strong>Enigma<\/strong>. The goal of this network was to offer transactions whose data is private.<\/p>\n<p>They advanced steadily, with a solid documentation, which holds the record in this ecosystem,<strong>\u00a0having been cited more than 1,500 times in the academic field.\u00a0<\/strong><\/p>\n<p>All this hard work led to an<strong>\u00a0ICO in 2017<\/strong>, through which they\u00a0<strong>raised no less than $45 million.<\/strong><\/p>\n<p>But this was the first step on a tortuous path for the creators of Enigma.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"sec_issues_and_rebranding\"><\/span><strong>SEC issues and rebranding<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Following the successful\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-an-ico-initial-coin-offering\/\">ICO<\/a>,\u00a0<strong>Enigma was indicted by the SEC on charges of offering \u201cSecurities\u201d without a license<\/strong>. According to the SEC definition, a \u201cSecurity\u201d is a fungible, exchangeable financial instrument used to raise money in either a public or private market.<\/p>\n<p>The outcome of this accusation was the return to its investors of the US$45 million raised plus a US$500,000 fine that the team had to pay.<\/p>\n<p>However, this setback was far from discouraging the team behind Enigma from moving forward.\u00a0<strong>They decided to rebrand the project as \u201cSecret Network\u201d<\/strong>\u00a0and move away from the idea of being an Ethereum L2 solution to\u00a0<strong>being a standalone blockchain within the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-cosmos-atom-the-key-to-interoperability\/\">Cosmos<\/a>\u00a0ecosystem.<\/strong><br \/>\nIt was\u00a0<strong>2020<\/strong>, which saw the launch of Secret Network arrive.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"so_what_is_secret_network\"><\/span><strong>So, what is Secret Network?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As I anticipated in the introduction of the article,\u00a0<strong>Secret Network is a blockchain, designed to support multi-purpose smart contracts, but its main and also unique feature<\/strong>\u00a0is that it allows developers to configure these contracts in such a way\u00a0<strong>that the interactions that users make with them are private.<\/strong><\/p>\n<p>Before detailing how privacy works in Secret, it is important to note that\u00a0<strong>Secret\u2019s blockchain is located within the Cosmos ecosystem,<\/strong>\u00a0where it shares space with other important networks such as\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-terra-luna-the-blockchain-that-unites-two-worlds\/\">Terra<\/a>, Osmosis and Cosmos itself. The fact that it has been assembled within this ecosystem, using the Cosmos SDK (software development kit), gives us a preview of several features:<\/p>\n<ul>\n<li>\n<ul>\n<li aria-level=\"1\"><strong>It is a Proof of Stake network, which uses the Tendermint consensus mechanism for the creation and validation of its blocks.<\/strong><\/li>\n<li aria-level=\"1\"><strong>Its TPS, or number of transactions per second, reaches 10,000.<\/strong><\/li>\n<li aria-level=\"1\"><strong>The time in which a new block is generated is between 6 and 7 seconds.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>With this foundation in place, we can now dive into the workings of this unique and revolutionary blockchain.<\/p>\n<div id=\"image_1647589380\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu%C3%A9-es-Secret-Network2.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network2-300x205.jpg 300w\" alt=\"\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network2-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network2.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"secret_network_and_its_particular_operation\"><\/span><strong>Secret Network and its particular operation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of today, Secret users already have several options to invest their capital within its incipient DeFi ecosystem powered by its secret contracts and tokens. They can also, of course, participate in providing security by delegating their\u00a0<strong>SCRTs<\/strong>.<\/p>\n<p>But, let\u2019s take a step-by-step approach to understand how this network works.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"scrt_the_native_currency\"><\/span><strong>SCRT, the native currency<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Obviously, like all\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-proof-of-stake-and-how-does-it-work\/\">Proof of Stake<\/a>\u00a0networks,<strong>\u00a0Secret has its own native currency<\/strong>\u00a0that fulfills important functions, and is identified by the\u00a0<strong>ticker SCRT<\/strong>.<\/p>\n<p><strong>It is the currency that serves as a means of payment for transactions carried out on the network and is also the reward that validators and those who delegate their SCRT to them receive with the creation of each new block.<\/strong><\/p>\n<p>As for SCRT numbers and tokenomics, I must come clean, and reveal that they are not entirely to my liking. As of today\u00a0<strong>there is no limit to the issuance<\/strong>, some 149,109,567 SCRTs are issued and their annual inflation is as high as 15%. We will have to stay tuned to find out if the team plans some kind of mechanism to control this issuance or its total supply.<\/p>\n<p>As for its price, it is around US$5. It saw its highest price ever a few days ago, on October 11 at around US$6.88, and its lowest on November 3, 2020, when each SCRT traded at US$0.25.<\/p>\n<p><strong>It is remarkable and perhaps surprising to learn that SCRT and its transactions are not private.\u00a0<\/strong>Every movement or holding of<strong>\u00a0SCRT\u00a0<\/strong>can be observed in the block explorer as in any other blockchain.<strong>\u00a0Patience that we will get to the secret tokens\u2026..<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"scrt_stakes\"><\/span><strong>SCRT Stakes<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As in the entire Cosmos ecosystem,\u00a0<strong>the consensus used by Secret is Tendermint<\/strong>, so we have a good choice in delegating SCRT to network validators and thus contributing to the security of Secret Network.<\/p>\n<p>Given its tokenomics, the SCRT delegation is very attractive,\u00a0<strong>offering a return of around 30% per annum.<\/strong><\/p>\n<p>It is not a minor detail that once we delegate our SCRTs, we start receiving rewards automatically,<strong>\u00a0but when it is time to withdraw them we must wait a period of 21 days to dispose of them.<\/strong><\/p>\n<p>As for the risks, it is necessary to know that\u00a0<strong>there are three types of penalties on validators<\/strong>, which are also detrimental to those who have delegated their currencies:<\/p>\n<ol>\n<li aria-level=\"1\"><strong>\u201cSoft slashing -&gt;\u00a0<\/strong>occurs when a validator is disconnected for a period exceeding 10 minutes<strong>. The fine is 1% of the total staked.<\/strong><\/li>\n<li aria-level=\"1\"><strong>\u201cHard slashing -&gt;\u00a0<\/strong>if a validator validates the same block twice,<strong>\u00a0he\/she will receive a 5% penalty.<\/strong><\/li>\n<li aria-level=\"1\"><strong>\u201cTonobostoned\u201d -&gt; means, to be imprisoned forever.\u00a0<\/strong>This sanction is reached when there are numerous misdemeanors or a serious misdemeanor occurs.<\/li>\n<\/ol>\n<p>Taking into account these penalties,\u00a0<strong>when choosing a validator it is necessary to know its background.<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"secret_contracts\"><\/span><strong>Secret Contracts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This is the name given to the contracts that allow the network to provide its most valuable feature, privacy. Like everything developed within the Cosmos ecosystem,\u00a0<strong>these contracts are written in Rust<\/strong>, a programming language created by the Mozilla team, and<strong>\u00a0compiled using WASM.<br \/>\n<\/strong>Each interaction with a Secret Contract will be carried out in such a way that <strong>only the user who executed it will be able to access the transaction data<\/strong>. Not even the validators will be able to see the data to be validated,\u00a0<strong>since the transactions and their amounts are encrypted.<\/strong><\/p>\n<p>The technology used by Secret\u2019s validators to process these transactions is known as\u00a0<strong>Trusted Execution Environment (TEE).<\/strong>\u00a0This is specific hardware that allows them to protect the area where the code is executed in isolation.\u00a0<strong>The code executed in the trusted execution environment cannot be seen or modified<\/strong>. Through the implementation of this technology, Secret Network was able to achieve the level of privacy so desired since the birth of the project.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"private_tokens\"><\/span><strong>Private Tokens<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>To comply with their own standards,\u00a0<strong>Secret\u2019s team designed a proprietary standard they called SNIP-20,<\/strong>\u00a0similar to and with the same function as\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-an-erc-20-token\/\">ERC-20 tokens<\/a>, but with the addition of privacy.<\/p>\n<p>This standard is compatible with Secret Contracts and by default, since its creation,\u00a0<strong>its balances and transactions are private<\/strong>. Whoever owns one of these tokens,<strong>\u00a0which are identified with an \u201cs\u201d at the beginning,<\/strong>\u00a0(e.g. sSCRT or sBTC)<strong>\u00a0will have the \u201cDisplay Key\u201d<\/strong>. This key allows to prove the ownership of the tokens, if necessary. We can imagine that this precaution derives from the team\u2019s first experience with the\u00a0<strong>SEC<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"secret_bridges\"><\/span><strong>Secret Bridges<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The network has bridges that connect it with other blockchains,\u00a0<strong>this being one of the most important points of Secret,<\/strong>\u00a0since a user, without the need to sell his tokens, could delete his traces if he wished to do so.<\/p>\n<p><strong>The operation of Secret Bridges is similar to REN VM, from the Ethereum network, achieving communication between networks by blocking tokens in one blockchain to create or \u201cmine\u201d equal amount in the other blockchain.<br \/>\nOnce a token crosses these bridges to Secret, it will land on the network as a secret token which, as I discussed earlier, is identified with an \u201cs\u201d in front of it, for example: sETH.<\/strong><\/p>\n<p>At the time of writing,\u00a0<strong>active bridges connect Secret to Ethereum<\/strong>, Binance Smart Chain and Monero networks.\u00a0<strong>Work is in progress on connecting to Bitcoin and Polkadot.<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"secret_foundation_and_governance\"><\/span><b>Secret Foundation and Governance<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Behind the Secret network,\u00a0<strong>providing sustenance, is a non-profit foundation known as the \u201cSecret Foundation\u201d<\/strong>. Its creator is\u00a0<strong>Tor Blair<\/strong>\u00a0who received, at the beginning of this foundation, funding from the team that came from Enigma. This foundation promotes the adoption of Secret Network, the development within the network and they are the ones who implement the changes decided by the community.<br \/>\n<strong>The Secret Foundation\u2019s funding<\/strong>\u00a0comes from the staking of the network, 15% of the total generated is derived for this purpose.<\/p>\n<p>With respect to\u00a0<strong>governance<\/strong>, all decisions on the future of Secret Network are\u00a0<strong>made by the community<\/strong>. The voting system indicates that to create a proposal, 1000 SCRTs must be \u201clocked\u201d and for it to be approved, at least 33% of the SCRT holders must vote and receive more than 50% positive votes. In this system,\u00a0<strong>each SCRT represents one vote<\/strong>.<\/p>\n<div id=\"image_815086455\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu%C3%A9-es-Secret-Network.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network-300x205.jpg 300w\" alt=\"\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/10\/Qu\u00e9-es-Secret-Network.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"the_future_of_secret\"><\/span><b>The future of Secret<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>In addition to the bridges available today and the important new connections being worked on, users\u2019 attention is focused on the \u201cSupernova\u201d update. This is the arrival of the IBC at Secret. The IBC is a general upgrade to be made to the Cosmos networks, whereby the blockchains that make up this ecosystem will be able to connect with each other. The opportunities arising from this connection are innumerable.<\/strong><\/p>\n<p>On the other hand, the network expects the arrival of several applications that will continue to enhance the\u00a0<strong>DeFi<\/strong>\u00a0ecosystem that today only includes\u00a0<strong>Secret Swap and Sienna<\/strong>, two decentralized exchanges whose main feature, beyond their liquidity pools and attractive rewards, is\u00a0<strong>the elimination of front-running.<\/strong><\/p>\n<p><strong>The front-run is a practice we met in the Ethereum ecosystem.\u00a0<\/strong>When a user sends a transaction to the network, it stops in the mempool where it waits for a miner, today and a validator in the future, to take it. As these transactions are public, any user or usually a bot, could observe it, replicate it with more gas and thus get a validator to execute it first.<\/p>\n<p>Secret Network with its privacy standard, provided by Secret Network and Secret Tokens,<strong>\u00a0eradicates this problem forever and opens up countless options<\/strong>, until today out of reach of the \u201caverage user\u201d.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"conclusion_on_secret\"><\/span><strong>Conclusion on Secret<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the last month, the growth of this blockchain, in terms of users and capital<strong>\u00a0was undoubtedly impressive<\/strong>. Driven by the growth of the networks, and the ecosystem itself, of\u00a0<strong>Cosmos<\/strong>, Secret was able to take advantage of this bullish wave that projects with important fundamentals are enjoying by communicating its benefits.<\/p>\n<p>Undoubtedly, S<strong>ecret has a lot to offer and its future looks very positive<\/strong>. A thriving DeFi ecosystem that seeks connections with other networks and provides a unique layer of privacy is very attractive. And while we await the arrival of new applications that will propel the growth of this\u00a0<strong>DeFi<\/strong>\u00a0ecosystem plus the arrival of the precious\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/top-5-blockchain-or-nft-video-games-to-make-money\/\"><strong>NFTs<\/strong><\/a>, as a friend says,\u00a0<strong>\u201cwhat better than the explosion catching us on the inside?<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 7<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>When choosing a blockchain, with a DeFi ecosystem, to start interacting, \u201ccrypto-users\u201d generally\u00a0analyze transaction fees, network\u00a0speed, available applications and their connections. Until now, no one has been able to choose a blockchain like Secret Network, which allows interaction with decentralized finance and meets the requirement of offering total privacy on the movements made on it. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=9662"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/6749"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=9662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=9662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=9662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}