Secret Network is a descendant of Enigma, which is a cryptocurrency founded by MIT graduates Can Kisagun and Guy Zyskind in 2014. Now, Enigma MPC has turned into SCRT Labs, and it is only one of the parties involved in it.
Secret Network is a cryptocurrency blockchain that offers completely private smart contracts, and it is one of the first cryptocurrencies to do so. Transactions made on Secret Smart Contracts cannot be viewed by the nodes that run the blockchain. Therefore, all of the inputs and outputs are encrypted. Secret Network has created a balance of transparency and privacy by making transactions publicly viewable, while also preserving privacy by default. This balance offers multiple uses – cases for cryptocurrencies that were impossible to do before since blockchains revealed sensitive information about both users and the token itself.
Secret Network (SCRT) Fundamental Analysis
Secret Network is a Proof-of-Stake (PoS) protocol. It is an independent, base-layer blockchain network, which was built by the utilization of the Cosmos SDK and Tendermint consensus engine.
Their main concern is preserving the privacy of the users. There have been reports of several government agencies creating tracing tools for cryptocurrencies to keep track of transactions which is exactly what Secret Network has set a goal on disrupting. They want their customers to have the ability to make digital purchases or trades without the presence of a centralized authority watching every step.
Secret Network’s solution to this problem is encryption from the ground up, which the founder of Secret Foundation, Tow Bair, refers to as “programmable privacy.” This policy relies on a network of computers called “secret nodes,” which perform the computation of the smart contracts built on the platform. These nodes use a trusted execution environment (TEE), which enables security and privacy. TEE is a widespread technology used by smartphones amongst other platforms to handle sensitive data such as fingerprints or face IDs.
Secret Contracts are the Secret Network’s version of smart contracts. They have been designed to preserve data privacy by default. These contracts are written in the Rust programming language and allow DApps to use the data without exposing it to anyone, including the sacred nodes that perform the computations required to make transactions. The users are in complete control over their data, and they are the ones who decide what is shared and who they share it with. They can give access to their data to third parties by creating viewing keys.
Secret Token (SCRT)
The Secret Token (SCRT) is the native coin of Secret Network. They are made using the SNIP-20 standard. These tokens can be used in Secret Contracts and pay for fees required to use apps on Secret Network. In order for users to become nodes, they must stake their tokens. Additionally, these tokens are a requirement when it comes to the participation of users in the governance of the network and voting on proposals.
Secret Bridges allow holders of assets in Ethereum and Binance Smart Chain to create a version of their assets that is private. These tokens can then be used in the Secret Network, and they are known as Secret Finance. It is important to note that not all blockchains are functional, so it is important to check in advance.
The Secret Network has gotten involved in the new but booming NFT trend. They give their users the chance to view the NFT, which comes with a watermark or thumbnail before buying, rather than getting the full version after making the purchase which is the case with other networks.
One of the most interesting features of Secret NFTs is the involvement of movie director Quentin Tarantino who has expressed his desire to create Pulp Fiction NFTs.
The secret network has displayed a Roadmap that emphasizes the following projects:
- Secret Lottery – works similarly to a normal lottery. Users can purchase one ticket or buy them in bulk, they choose 6 digits per ticket, and the winning ticket is chosen based on the order of the matching numbers. For example, let’s say that the winning number is 657854, those who match the number 6 get a prize, those who match on 65 get a bigger prize, and so on. However, if you do not match on the first digit yet match on the other digits, you do not get a prize.
- Secret Terra Bridge – this is a collaboration between the Secret Network and Terra. Both parties should be able to profit from this collaboration. Terra can benefit from Secret’s privacy features that appeal to its users. Secret wants to get Terra users to start using SecretSwap, becoming their go-to blockchain.
- Orbem Wars – is a Play to Earn (P2E) Tower Defense game. Users can play this game in modes such as Single-player, Event, League, and Contract. In addition, it allows the winners to earn NFT, so it is expected to be very popular amongst users.
SCRT has a token supply of 170M, which are allocated as:
- 75M (44.12%) reserved for the community.
- 36M (21.18%) reserved for the team (Past, present, and future).
- 30M (17.65%) reserved for the Enigma and affiliates treasury.
- 20M (11.76%) reserved for the Ecosystem pool.
- 1M (0.59%) reserved for the Foundation.
- 8M (4.71%) reserved for inflation.
Secret Network (SCRT) Price Analysis
At the time of writing, SCRT is trading at around $5.76. This token hit an all-time low of $0.25 in November of 2020 and then an all-time high of $10.64 in October of 2021. SCRT’s market cap is $940,376,669.35, with a circulating supply of 163 million SCRT.
Crypto Academy Secret Network (SCRT) Price Prediction 2022
|Months||Minimum Price||Average Price||Maximum Price|
Secret Network (SCRT) Price Prediction February 2022: In February of 2022, the minimum price of SCRT might be around $5.54, whereas the maximum is predicted to reach $6.11. The average price could be around $6.01.
Secret Network (SCRT) Price Prediction March 2022: In March of 2022, the maximum price of SCRT could be around $6.47, the average $6.22, and the minimum of $6.03.
Secret Network (SCRT) Price Prediction April 2022: As of April of 2022, the minimum price of SCRT might hit $6.14, and the maximum could reach up to $6.87. The average price is predicted to be around $6.45.
Secret Network (SCRT) Price Prediction May 2022: In May of 2022, SCRT could reach a maximum of $7.04 and an average of $6.85, with a minimum price of $6.53.
Secret Network (SCRT) Price Prediction June 2022: In June of 2022, the maximum price of SCRT might hit $7.32, with an average of $7.18. The minimum could be $7.03.
Secret Network (SCRT) Price Prediction July 2022: In July, the minimum price of SCRT is predicted to be around $7.03. The maximum price could hit $7.67, whereas the average price might be $7.44.
Secret Network (SCRT) Price Prediction August 2022: During August, SCRT’s maximum price is predicted to be above the $8 mark by potentially hitting $8.06, with an average of 7.85 and a minimum of 7.54.
Secret Network (SCRT) Price Prediction September 2022: In September, the maximum price of SCRT is predicted to be around $8.29, with an average of $8.14. The minimum price could be $7.98.
Secret Network (SCRT) Price Prediction October 2022: In October of 2022, the maximum price of SCRT has been predicted to be around $8.47. The minimum might be $8.18, and the average price $8.35.
Secret Network (SCRT) Price Prediction November 2022: In November, the minimum price of SCRT is predicted to be $8.53, with an average of $8.74 and a maximum of $8.94.
Secret Network (SCRT) Price Prediction December 2022: During the last month of the year, SCRT’s minimum price is expected to decline to $8.03. However, the maximum could surpass the $10 mark, and its average trading price might be $9.12.
Secret Network (SCRT) Price Prediction 2022 Q1
The first quarter of the year is expected to be one of the lowest points of SCRT when it comes to the price, with a minimum of $6.47. However, from this point on, SCRT could grow.
Secret Network (SCRT) Price Prediction 2022 Q2
The gradual price increase has been predicted to be quite obvious during these months, where the minimum trading price is expected to be $6.14 and the maximum $7.32.
Secret Network (SCRT) Price Prediction 2022 Q3
During this quarter, SCRT could surpass the $8 mark by hitting a maximum price of $8.06 and a minimum of $6.95.
Secret Network (SCRT) Price Prediction 2022 Q4
This period is expected to be the most successful for SCRT, with a minimum price of only $8.18 yet a booming maximum of $10.12.
Crypto Academy Secret Network (SCRT) Price Prediction 2023,2024,2025,2026
Secret Network (SCRT) Price Prediction 2023
In 2023 we can expect SCRT to have a slight decline in price during the beginning of the year. However, it should climb back up and maybe even surpass $15 by the end of the year, therefore hitting a new all-time high.
Secret Network (SCRT) Price Prediction 2024
The year 2024 has been forecasted to be a very successful one for SCRT; the minimum price should average $11.50 while the maximum price should be above $20.
Secret Network (SCRT) Price Prediction 2025
Like the previous year, in 2025, SCRT should continue to flourish with a minimum price of around $15 and a maximum price over $30.
Secret Network (SCRT) Price Prediction 2026
In 2026, SCRT is expected to grow even more. During this year, the maximum price is likely to be above $40, with a minimum not lower than $20.
Secret Network (SCRT) Market Price Prediction
Forecasters are very optimistic when it comes to the increase of SCRT’s price in the future. Below you will find some of the predictions they have made:
This website predicts that SCRT may reach $9,21 by the end of 2022.
According to Priceprediction.net, SCRT could reach a maximum price of $13.84 in 2023, $19,74 in 2024, $28.38 in 2025, $40.71 in 2026, and then hit and surpass $100 in 2029.
CryptonewsZ states that SCRT might be a good investment as well because its price is expected to increase. Based on their predictions, SCRT might reach a maximum price of $11.22 by the end of this year.
Digital Coin Price
This website has a slightly less bullish stance when it comes to SCRT’s price. They predict that SCRT could end 2022 with a maximum price of $7.94 and may only reach $29.94 by 2031.
Ryan Matta – YouTube
This YouTuber does an in-depth analysis of SCRT as well as a price prediction. According to his research, SCRT’s price might go up to $15 by the end of this year, and no matter how bearish the market gets, it should not drop below $1.53.
How to buy Secret Network (SCRT)
Step 1: Choose an exchange that supports SCRT and create your account
Exchanges differ from each other in terms of fees, security, and payment methods. Some of the exchanges that support SCRT are Binance, Gate.io, Huobi Global, Mandala Exchange, Osmosis, CoinEx, and so on. It’s important to do your research before choosing the one you want to create an account on. After making your choice, you should create an account where you need to fill in the required details, such as your name, email address, and password.
Step 2: Deposit your funds
There are many ways in which you can fund your account. For example, you can do a bank transfer, pay with a credit or debit card, or deposit other cryptocurrencies from your crypto wallet.
Step 3: Make the purchase
Although most platforms function differently, in most of them, purchasing cryptocurrencies with a fiat currency is easier than purchasing it with another crypto. However, most platforms offer guides to help you out and make the purchase process easier. Once you have decided whether you want to buy SCRT with a fiat currency or another form of crypto, you need to confirm your transaction and find the best wallet to store your SCRT. Some wallets that support SCRT are Keplr and Ledger.
Frequently Asked Questions (FAQ)
Can SCRT reach $100?
SCRT has a lot of potential and their new incoming projects should help it rise in price. As a result, this cryptocurrency might hit the $100 mark between 2028 and 2029.
Will the price of SCRT increase?
SCRT has planned many new projects that should only help it increase in price and popularity. Based on our predictions as well as the predictions made by other parties, the price increase might not be immediate and a little slow, but there is a lot of potential for an increase.
Where can I buy SCRT?
You can purchase SCRT in exchanges such as SCRT are Binance, Gate.io, Huobi Global, Mandala Exchange, Osmosis, CoinEx, and more. It is important to do your own research and see which one of these exchanges is the most suitable for you.
Where can I store SCRT?
One of the most popular wallets amongst users is Keplr. However, you can also use Ledger and Citadel.one for staking.
- Secret Network (SCRT) is the first cryptocurrency to offer completely private smart contracts.
- If users wish to share their transaction details with a third party, they can create and utilize a “viewing key.”
- Secret Network nodes utilize the Trusted Execution Environment (TEE).
- Secret Contracts have been designed to protect their users’ privacy by default.
- Movie director Quentin Tarantino wants to be involved in the creation of the Pulp Fiction NFTs.
- Secret Network is planning on releasing two games during this year; Secret Lottery and Orbem Wars.
- SCRT could hit $100 during 2028 or 2029.