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Price Updates, Recent Developments, Future Events, Community -Breaking

by Mike Robinson

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Secret (SCRT): Price Updates, Recent Developments, Future Events, Community
  • SCRT Labs’ first major network upgrade has been completed, Supernova, one year after Secret Contracts was released.
  • Supernova offers greater scalability and security. It also has up to 10x lower gas prices than the previous generation.
  • SCRT Labs has established November 22http://nd.Integration of IBC will allow the Secret Network to be connected with other blockchains in the Cosmos ecosystem.
  • Quentin Tarantino is now able to enter NFTs thanks to Secret Network.

Secret brings privacy to an entirely new level. Privacy is one of the most important features in cryptocurrency. Secret Network, the first cryptocurrency to offer data privacy as a default feature, allows you to create and use privacy-preserving and permissionless applications.

Although blockchains are helping to create a better internet for everyone, Web 3.0 or the decentralized Web, is primarily accessible by default. As such, the user data is ‘exposed,’ posing a risk.

Secret Network addresses this issue by implementing decentralized privacy. Secret Contracts (a type of smart contracts) are used to manage private and sensitive information. Secret nodes run generalizable calculations and secret nodes can perform generalizable computing. The project was hailed as a unique technological breakthrough. How has the project performed on the market in recent years?

Pricing Updates

Secret (SCRT), Secret Network’s native currency, is Secret. SCRT was very fortunate in October, when the coin rose to an all-time high at $10.64.

Secret’s October Price Chart (SCRT) Source: Tradingview

SCRT’s October November performance has been difficult to duplicate in November. However, the coin is mainly consolidated around $8.5. SCRT fell 12.5% under bearish pressure in the last 24hrs.

Secret’s 24 Hour Price Chart (SCRT). Source: Tradingview

SCRT now stands at $7.21005 as a result of the current downtrend. CoinMarketCap has ranked the Secret Network at 101st place among digital assets. It has a market capital of $1.1 million.

Recent developments

SCRT Labs’ Supernova Mainnet was launched on November 11, improving on the already excellent tech. Supernova represents the Secret Network’s first major network upgrade since Secret Contracts was launched in September 2020.

Supernova has now been operational so the Secret Network is now a cross-chain privacy first platform for Web 3.0. It is expected that the network upgrade will enable hundreds more unique applications for DeFi, NFTs and the larger metaverse.

Supernova’s most prominent feature is its drastic decrease in gas prices. SCRT Labs promises fees that will be up to 10x cheaper than the previous. Supernova’s mainnet also makes transactions more efficient.

Binance expressed its support for network upgrades before Supernova’s transition.

Future Events

The Secret Ecosystem is buzzing with hype around the network’s future releases. Quentin Tarantino, a member of the Secret Network will be making his first foray into the NFT world. Sometime in November, the “front cover,” the initial, uncut, handwritten scripts of “Pulp Fiction,” will be auctioned on Opensea, the largest ETH-based NFT marketplace.

After these seven uncut scenes from “Pulp Fiction” have been auctioned, the Tarantino NFT team will auction ten NFT art pieces of iconic and unique props from Quentin Tarantino’s movies. After the Tarantino set, more hidden artists are likely to auction their NFTs.

SCRT Labs announced the integration of its Supernova mainnet with IBC. SCRT Labs wants to improve decentralization of its network. Therefore, SCRT Labs will submit a proposal for inclusion into IBC’s network. This proposal will be made on November 15, 2015.

IBC, which has the integration date of November 22nd, will link the Secret Network to blockchains throughout the Cosmos ecosystem.

Integration of IBC into the Secret Network allows for the support and addition of LUNA/UST. The Secret Network will provide programmable privacy to native assets if both of these proposals are approved.

LUNA holders and USDT holders also have access to Secret DeFi apps on the network. Users will now be able move and trade digital assets between Terra supported chains.

Flipside

  • SCRT’s price has not been affected by Supernova’s mainnet upgrade. This is despite all the hype.
  • SCRT Coin’s price has declined by 18% over the years since it was launched.

The Community

Although transactions made on the network are anonymous, the secret community does not remain completely anonymous. The Secret Community members are known for contributing their voice to the development of the project.

The Secret ecosystem will allow members to be more involved in decision making thanks to its emphasis on decentralization.

Confirming the decrease in gas fees after Supernova’s launch, @rannyg wrote:

AtScrtIndonesia felt inspired by the expected NFTs on the network and wrote:

In discussing the Secret NFTs one Twitter user (NYSE:), @CryptoMoss_ said:



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