Secret (SCRT)

Overview

Secret (SCRT) is a Layer 1 “confidential computing” network that brings privacy to smart contracts. On the Secret blockchain, inputs, outputs, and contract state can be encrypted, so apps can use sensitive data without exposing it to the whole world. Developers call these private programs Secret Contracts. The SCRT token powers the network for fees, staking, and governance. Users often track SCRT price for context, but the number itself changes and is shown in live widgets; what matters here is what the network does.

Secret’s value proposition is simple to state and hard to copy: programmable privacy. Instead of making every transaction and data field public by default, Secret lets builders choose what stays public and what remains private, while still being verifiable on-chain. This opens use cases in Secret DeFi, NFTs, gaming, identity, and more—areas that need privacy to work well at scale. Secret runs on Cosmos technology, so it can connect to other chains over IBC, and it uses trusted execution environments (TEEs) to keep computations confidential. (docs.scrt.network)

History & Team

Secret grew out of research on privacy-preserving computation that began at MIT in 2015 under the Enigma project. In February 2020, over 20 independent validators launched a new Cosmos-based blockchain, which became Secret Network. Private smart contracts went live on mainnet in September 2020, making Secret the first chain to support encrypted inputs, outputs, and state at the smart-contract level. In November 2021, the “Supernova” upgrade enabled IBC, connecting Secret to the wider Cosmos interchain. (docs.scrt.network)

Key contributors include SCRT Labs, led by founder Guy Zyskind (MIT Media Lab alumnus), and a broad set of community builders. The Secret Foundation, founded by Tor Bair, helped grow the ecosystem in earlier phases. Today, SCRT Labs is the core development organization, while independent validators and teams build apps and infrastructure. In January 2022, SCRT Labs announced $400M in ecosystem funding (an accelerator pool and an ecosystem fund) with commitments from firms such as CoinFund, DeFiance Capital, HashKey, and Alameda Research, to accelerate Secret’s application layer and tooling. (docs.scrt.network)

Technology & How It Works

Cosmos + Confidential Computing

Secret is built with the Cosmos SDK and Tendermint consensus. That means fast finality, delegated proof of stake (DPoS), and native IBC for cross-chain transfers. What makes Secret different is the privacy layer: Secret Contracts (CosmWasm smart contracts) execute inside Intel SGX secure enclaves on validator nodes. The enclave is a protected memory area. Data enters encrypted, gets decrypted within the enclave to compute, and leaves as encrypted output. No validator, user, or observer can read the protected data. (docs.scrt.network)

Remote attestation, keys, and viewing

Before a node can run private computation, its enclave goes through remote attestation. This proves the enclave is genuine and running the expected code. Secret uses sealing to securely persist certain keys in the enclave between restarts. On the user side, Secret introduces “viewing keys” for SNIP-20 and SNIP-721 tokens. A viewing key lets you or a permitted third party see balances or specific data fields without making them public to everyone. This is useful for audits, compliance, or customer support—privacy with selective transparency. (docs.scrt.network)

Developer stack and standards

Secret extends the CosmWasm stack with privacy. Token and NFT standards include SNIP-20 (fungible), SNIP-721 (NFTs), and SNIP-1155 (multi-asset). SDKs like Secret.js and Secret.NET help developers encrypt/decrypt messages and interact with Secret Contracts. Builders can also use Secret’s on-chain verifiable randomness (Secret VRF) for fair games, lotteries, or trait generation in NFTs—randomness is derived inside the enclave and injected at execution time. (github.com)

Tokenomics & Utility

Secret tokenomics at a glance

The SCRT token secures the network through staking and pays for gas. Secret tokenomics use variable inflation with a bonding target around two-thirds of the total stake. Historically published materials describe an inflation band that adjusts based on the percentage of tokens staked, with governance able to tune parameters over time. The network also uses a 21‑day unbonding period for staked SCRT, common in Cosmos chains, to support security. Validators may set a commission on rewards. These mechanics are designed to balance security, participation, and long-term sustainability. (scrt.network)

Utility of SCRT

• Gas and computation: Every on-chain action (deploying a Secret Contract, creating a viewing key, minting a Secret NFT, or swapping on a Secret DEX) consumes gas paid in SCRT.
• Staking and governance: Delegators stake SCRT to validators to help run the chain and earn block rewards. Staked SCRT gives voting power in on-chain proposals and parameter changes.
• Privacy wrapper: Users can wrap SCRT into sSCRT (a SNIP-20 token) to transact privately within apps that use Secret token standards. (docs.scrt.network)

Readers often search for “Secret tokenomics” and “SCRT price” together. Price is dynamic; tokenradar.ai displays up-to-date metrics. This section focuses on the structure—how SCRT secures and powers the network.

Ecosystem & Use Cases

Secret’s ecosystem spans DeFi, NFTs, gaming, identity, messaging, and cross-chain privacy services.

• DeFi: Shade Protocol’s ShadeSwap is a privacy-preserving AMM with concentrated liquidity and stable-swap curves, purpose-built to resist front-running by keeping order flow private. Shade also issues SILK, a collateralized, basket-pegged stablecoin designed to pair across pools. Sienna Network launched private swaps and lending, showing how confidential positions can reduce manipulation risks such as targeted liquidations. (docs.shadeprotocol.io)
• NFTs and digital media: Stashh is a marketplace for Secret NFTs using the SNIP‑721 standard. Creators can keep content private-by-default (for example, full-resolution files only visible to owners), while still proving authenticity and ownership on-chain. This model supports subscription content, unlockable media, and private memberships. (blog.stashh.io)
• Messaging and access control: ALTER integrated a “stake‑to‑access” model where staking SCRT unlocks private, end-to-end encrypted communications. Apps can also use viewing keys for selective disclosures, helpful for audits or customer reporting. (scrt.network)
• Gaming and randomness: Secret VRF offers verifiable randomness inside enclaves, enabling fair games, sealed-bid auctions, and transparent lotteries without leaking sensitive state. (docs.scrt.network)
• Interoperability: Through IBC, Secret connects to Cosmos chains (e.g., via Osmosis channel-88). Secret also migrated from its early Ethereum bridge to Secret Tunnel (Axelar-powered) to modernize cross-chain flows. Builders can bring assets in and out while keeping application-level privacy. (docs.osmosis.zone)

In short, Secret DeFi, NFTs, gaming, and more benefit from programmable privacy—keeping data useful to apps but hidden from prying eyes.

Advantages & Challenges

Advantages

• Programmable privacy: Secret Contracts keep inputs, outputs, and state encrypted, enabling use cases that public-only chains can’t support (private DeFi positions, hidden NFT metadata, sealed bids, private identities). (docs.scrt.network)
• Front‑running resistance: Encrypted mempools and private execution reduce information leakage, helping protect trades and auctions. ShadeSwap is a prominent example. (docs.shadeprotocol.io)
• Interoperability: Built on Cosmos with IBC, Secret can bring privacy to assets across the interchain and beyond via bridges. (docs.scrt.network)
• Selective transparency: Viewing keys let users and institutions prove balances or activity without exposing everything publicly, supporting audits and controlled disclosures. (docs.scrt.network)

Challenges

• Complexity: TEEs, viewing keys, and privacy-aware UX can be harder for newcomers to grasp than standard wallets and ERC‑20s.
• Hardware trust assumptions: Intel SGX provides strong isolation, but it adds a hardware trust model that differs from purely cryptographic approaches.
• Exchange policies: Privacy-focused features sometimes trigger listing frictions. Classification varies by exchange and region, though Secret has emphasized that base SCRT transfers are public while contract data is private. (finance.yahoo.com)

Where to Buy & Wallets

If you’re wondering where to buy SCRT, two common paths are:

• Interchain DEXs: Secret connects to Cosmos via IBC. On Osmosis, for example, SCRT flows through IBC channel-88 between Osmosis and Secret (osmosis-1 ↔ secret-4). Users can route from other Cosmos assets and transfer to Secret Network with one wallet flow. (docs.osmosis.zone)
• Secret‑native DEXs: ShadeSwap runs on Secret and supports SNIP‑20 tokens, stable pairs, and privacy-preserving swaps. It’s designed to reduce front‑running by encrypting order flow. (docs.shadeprotocol.io)

Wallet options for SCRT include:

• Keplr (browser and mobile), which supports Secret accounts, Secret.js integration, and viewing keys for Secret tokens.
• Ledger hardware wallets used together with Keplr for added key security.
• Other supported wallets listed by the project include Cosmostation, Starshell, Citadel One, and Fina. (docs.scrt.network)

Note for Secret tokens (SNIP‑20/721): balances are private by default. To view them in a wallet, you create a viewing key once per asset. This is a simple on-chain action and gives you (and only those you choose) read access without making the data public. (keplr.gitbook.io)

Regulatory & Compliance

Secret’s design separates public coin transfers (SCRT) from private smart‑contract data. That distinction matters because some regulators focus on assets that hide basic transaction details at the base layer. In 2023, Binance initially grouped Secret with “privacy coins” in certain EU countries, then revised its approach after engagement with projects. SCRT leaders emphasized that while Secret Contracts are private, regular SCRT transfers and balances are public on-chain. Exchange policies have continued to evolve under EU MiCA and related AML rules. (finance.yahoo.com)

Secret’s viewing keys and selective disclosure can support compliance workflows—users can share read access with auditors, tax professionals, or counterparties when needed, without exposing all data to everyone else. This “privacy with provability” is one reason Secret positions itself as a confidential computing layer rather than a classic “privacy coin.” (docs.scrt.network)

Shariah considerations: Is Secret halal? At the time of writing, there is no widely recognized public ruling by a major Shariah advisory board that certifies the SCRT token as halal or haram. Whether SCRT is considered “SCRT shariah compliant” can depend on how it is used and the specific dApps involved. Because conclusions vary across Islamic finance scholars and screening services, the broader community often describes the “Secret halal” status as not formally determined. This section reflects the general state of public information and not a legal or religious ruling.

Overall, Secret’s regulatory posture (“Secret regulatory status”) will keep evolving with global rules on privacy-enhancing technologies, data protection, and disclosures. The project’s selective-transparency features are designed to help apps meet requirements while keeping users in control.

Future Outlook

Secret is moving beyond a single-chain experience toward a broader confidential computing layer for Web3. The team continues to improve its developer stack (Secret.js, Secret.NET, CosmWasm integrations) and emphasizes interchain use: IBC connectivity, Axelar-powered bridging (Secret Tunnel), and toolkits that let apps on other chains consume Secret services like VRF randomness. Ecosystem initiatives, including the previously announced funding programs, aim to grow Secret DeFi, NFTs, gaming, and real-world data use cases that need programmable privacy. (docs.scrt.network)

In practice, that means more apps using private state for things like:

• Private credit and undercollateralized lending models where sensitive data matters.
• Encrypted order books, sealed auctions, and anti-MEV trading.
• Private NFTs for memberships, health records, or enterprise content.
• Multiplayer games with hidden information and fair randomness.

As rules around data privacy (like GDPR-style norms) become embedded in Web3, networks that offer selective disclosure—keeping users in control—can become infrastructure for compliant, user-friendly apps. Secret’s approach is built for that future. (docs.scrt.network)

Summary

Secret (SCRT) brings privacy to smart contracts without leaving the blockchain. By combining Cosmos interoperability with trusted hardware enclaves, Secret lets apps compute on encrypted inputs and keep state private, while still allowing selective transparency through viewing keys. The SCRT token powers fees, staking, and governance; Secret tokenomics use variable inflation and a 21‑day unbonding period to secure the chain. The ecosystem spans Secret DeFi, NFTs, and gaming, with projects like ShadeSwap, Stashh, and Sienna showing how privacy unlocks new designs. On the compliance side, base-layer SCRT transfers are public, and apps can share data selectively when needed, supporting evolving regulations and institutional needs. If you are exploring programmable privacy—for finance, content, identity, or games—the Secret blockchain and the SCRT token offer a mature stack to build with today while keeping an eye on tomorrow’s rules and user expectations. (docs.scrt.network)