Secret Research Hub | SCRT information, history and analysis

Secret Network is a layer one solution built with the Cosmos SDK, leveraging proof-of-stake (PoS) using Tendermint’s Byzantine fault-tolerant consensus algorithms. The project was founded in 2017 and officially went live on February 13, 2020 under the name of Enigma to bring a second-layer private computation solution to Ethereum. 

Secret Network is designed to enable developers to create and use decentralized applications while protecting user privacy. Secret Network is built as a decentralized network of computers (secret nodes) utilizing trusted execution environments (TEEs) to enable secure, private computation over encrypted data. Furthermore, Secret Network supports EVM compatibility, allowing Solidity developers to transition to building applications on Secret Network easily.

SCRT is a native token of the Secret Network ecosystem and can be used to: 

• Delegators and Validators stake SCRT in the platform to secure the network and receive SCRT tokens as a reward.
• Pay transaction fees in the network.
• Users stake SCRT in the platform to participate in the governance of the network.