Today, September 15th, 2020, is a momentous day for Secret Network.
After years of research and development work alongside community coordination, "secret" smart contracts have finally launched on mainnet. This successful upgrade means that Secret Network is now the first layer-one blockchain to enable general purpose private computation.
Why is this such a critical development?Currently, everything that happens on a blockchain is public by default: your data, your transactions, your identity. That means that all the data used in a smart contract is exposed to everyone. For blockchain technology to achieve global adoption, users (including companies and other organizations) need control over how their data is used – they can’t just expose it to everyone.
This mainnet upgrade makes Secret Network the only blockchain running live smart contracts with encrypted inputs, outputs, and state. That is possible because every node operator validating the network activity uses a secure enclave – the same type of technology securing your fingerprint on your smartphone. You can think of Secret Network as combining the programmability of Ethereum with the privacy of Zcash. This capability for "programmable privacy" now allows developers to begin building their own permissionless and privacy-preserving “Secret Apps.”Learn more about some powerful Secret Apps that have been built to date: Secret Tokens: Programmable Privacy for DeFi How Secret Network can create network effects for privacy, providing the missing piece for DeFi mass adoption. Secret Vaults: Programmable Access Control The generalized Secret Vault contract gives developers tremendous power to build many useful access control solutions, including content monetization, key management, and overall protection for digital rights! Secret Staking Derivatives: Liquidity Meets Privacy Staking derivatives unlock liquidity for DeFi while keeping networks secure. Now wi...